In recent days, a piece of news that the delivery of a common property house in Chengyang District, Qingdao City has been difficult to deliver has attracted widespread attention in the industry.

　　According to the news, at the beginning of the year, a house buyer left a message in the mayor’s mailbox of Chengyang District, Qingdao, saying that he bought a joint property housing project in a local project two years ago, with a down payment of about 1.5 million, and a local state-owned company was responsible for contributing 760,000.

When it was time to hand over, the developer claimed that the municipal company had not paid, so the house could not be handed over. If you want to check out, you need to pay a 20% liquidated damages. The state-owned assets said that "there is no money."

　　Chengyang Municipal Investment Group replied that Chengyang City Investment Group is now actively raising funds to solve the payment problem, and has explained the relevant situation to the buyers.

Another similar citizen left a message saying that the co-ownership house he purchased had been approved and signed online in 2021, but because the municipal investment company had not yet paid the down payment, he could not get the key when the house was handed over at the end of 2022.

　　After the incident was noticed, it triggered discussions in the industry on the issue of joint property housing and investment funds in local cities.

So, what is the truth behind it?

District talent purchase policy

　　According to a person from a local real estate company, Yicai told Yicai that the content of the online rumors is indeed true, mainly due to the payment of local state-owned funds, and the liquidated damages for checking out are also stipulated in the purchase contract.

"Some projects involve a small amount of real estate, and some are in arrears. Before that, four local state-owned companies were working on it. Currently, the one reported on the Internet has payment problems, and the other three are fine."

　　It is worth noting that the co-ownership housing that has attracted attention in Chengyang District this time is not the same as the traditional ones.

　　Generally speaking, co-ownership housing means that the government provides policy support, adopts market-oriented methods to build and raise funds, limits the area, sales price, use and disposal rights, etc., and supplies to qualified residents. Shared ownership housing.

In the land auction stage, regulations will be made on the nature, selling price, and transfer conditions of the corresponding plots of land.

　　The shared property housing in Chengyang District is more similar to the support policy for talents to buy houses. It is a phased policy independently introduced by the district and independent of Qingdao’s talent housing policy. It has been popular in the local market for a while before.

　　As early as March 2020, Chengyang District of Qingdao City introduced six measures to gather talents. Among them, aiming at the difficulties of "difficult to buy a house" and "expensive to buy a house" for talents, the proportion of property rights between different levels of talented house buyers and district-owned state-owned enterprises was divided. , 30% of the house payment will be advanced or donated by the state-owned enterprises in the district.

The policy was originally envisaged to last until 2023.

　　Specifically, the talents who can apply for housing include seven categories, from academicians to college graduates, belonging to the first to fourth levels of talents. If talents at different levels purchase houses with joint property rights, the property rights ratio between the buyers and state-owned enterprises in the district shall be 7:3, and the co-ownership period shall be 5 years.

　　According to the proportion of property rights, individuals bear 70% of the total purchase price and enjoy 70% of the property rights. They need to pay the down payment of holding 70% of the house property rights and use it as collateral for mortgage loans; district-owned state-owned enterprises bear 30% of the total purchase price , Enjoy 30% of the property rights, which will be settled by their own funds or other funds, and this part of the property rights will not be used as collateral for personal mortgage loans.

　　According to an article published by the local official media at the time, for example, a house of 1 million yuan: talent 210,000 yuan + unit 300,000 yuan + loan 490,000 yuan.

The talent pays 21% first, the policy pays 30%, and the rest is a loan. In this way, the down payment ratio is low, and the pressure on loan repayment will also be reduced.

　　After the expiration of the common property rights, the talents of the first to fourth levels who have worked in Chengyang District and enjoyed the common property rights policy for 8 years, shall apply individually, and after the approval of the state-owned enterprises in the district and the approval of relevant departments, 30% will be donated free of charge Property rights: Talents at levels 5 to 7, after 5 years, individuals will repurchase 30% of the property rights held by state-owned enterprises in the district, and the repurchase price will be based on the principle of "whichever is lower".

　　After more than a year of implementation, the issue of capital advances poses a certain test for state-owned enterprise platform companies. Some real estate projects actively intervene and cooperate with the four major platform companies to advance capital; there were also voices at the time that some real estate companies chose to withdraw from cooperation in joint property rights projects.

However, in the official list released in 2021, there are 52 real estate residential projects for sale in the district that are certified projects for joint property rights housing for talents.

Temporary exit after boosting the property market

　　The announcement of the shared property housing policy in Chengyang District has caused great waves in the local property market.

　　According to Zhuoyi data, the property market in Chengyang in 2019 was very depressed, with the lowest transaction in the past five years. The annual transaction of commercial housing was 14,094 sets, and the transaction of commercial housing was 10,331 sets.

After the implementation of shared property rights in 2020, both the volume and price of the Chengyang property market have risen. In 2020, 21,216 units were sold in the whole year. Shared property houses have become a "stimulant" for the Chengyang property market. External factors have triggered demand for early release.

　　Qingdao's online real estate data also shows that in the whole year of 2020, more than 11,000 housing units with shared property rights have been signed online in Chengyang District.

Stimulated by the New Policy on Shared Property Rights, the property market in Chengyang District will be exceptionally bright in 2020. A total of 24,850 new houses were sold throughout the year, with a transaction area of ​​2,818,985.65 square meters, second only to the West Coast, and new house transactions accounted for 16% of the city's total transaction volume.

　　The price of some real estate projects has also risen under the stimulus of this policy. Some projects have risen from 15,500 yuan/square meter at the end of 2019 to 19,000 yuan/square meter, and some projects have risen from 12,000 yuan/square meter at the end of 2019 to 15,500 yuan / square meter.

The local area also once relaxed the threshold for talents to buy houses, and the number of buyers of co-owned houses has increased again, which will constitute the main force of transactions in the district's property market in 2021.

　　However, starting from the second half of 2021, Chengyang District’s policy on joint property rights for talents has been tightened, canceling the policy on the purchase of second suites for talents at levels 5 to 7, and the policy on purchasing the first suite remains unchanged.

In addition, with more and more buyers of joint property rights, the financial pressure on the four major platforms, namely Municipal Group, Urban Development Group, Kaitou Group, and Dynamic Investment Group, has increased. The case of borrowing.

　　Later, the policy that was supposed to end in 2023 pressed the pause button ahead of schedule.

In April 2022, a house buyer asked about the suspension of registration for joint property rights. The Chengyang District Finance Bureau replied that due to the upcoming introduction of a new housing policy for talents, in order to ensure a smooth connection with the new policy, the suspension of talents will start on March 31, 2022. Shared Ownership Housing Policy.

　　In August of the same year, Chengyang District announced the Implementation Plan for Issuing House Purchase Vouchers for Newly-Introduced Talents (Trial Implementation), which will be issued to all kinds of talents newly introduced into Chengyang District after April 1, 2022, and who have no commercial housing in Chengyang District. Vouchers of the same amount.

　　At the level of Qingdao as a whole, there is a housing policy for talents with property rights. The project sales price should be determined no higher than 80% of the selling price of commercial housing in the same area at the time of sale; The construction area standard of the talent housing is approved, and the excess part is purchased at the price of commodity housing in the same area.

　　Li Yujia, chief researcher of the Housing Policy Research Center of the Guangdong Provincial Urban Planning Institute, believes that there are corresponding management methods for shared property housing in various places, and there are rigid requirements for all links such as construction and delivery.

The case of Qingdao is more similar to the model of common property rights to attract talents and help destocking. However, the investment funds in the city are generally tight, and it is unlikely to continue to pay so much money, which will lead to a series of delivery problems caused by funds.

　　Yan Yuejin, research director of Shanghai E-House Real Estate Research Institute, believes that in the past, when the economic situation was good and the government's financial situation was good, such problems were difficult to amplify.

But the problem is that the current economic pressure is increasing, and if local state-owned assets cannot bear the relevant responsibilities, problems will be exposed.

From this perspective, the above-mentioned situation will not be an isolated case, and local governments need to sort out the various funding issues behind the common property rights.

　　Regarding the problems in the property market in Chengyang District and even Qingdao, Kerui said that even if the local market is restored, it will not break through the high point of 2016. First, the probability of population growth by leaps and bounds is not high, and the purchase base is relatively stable. Although policies were introduced in the early stage to attract a group of talents to settle down, the phenomenon of "separation of households" is relatively serious.

As the market decline intensifies, the core first and second tiers in the southeast coast have lowered the threshold for settlement, but the so-called new talent policy does not have a "first-mover advantage", and the talents absorbed in the early stage are likely to flow into these core first and second tiers.

　　In addition, the housing price-to-income ratio in Qingdao, Jinan and other places is at a staged high. In 2021, Jinan and Qingdao will reach 8.6 years and 9.8 years respectively. It is not easy for residents to buy houses as a whole.

According to the latest statistics from Zhuoyi Data, in January 2023, a total of 4,460 new commercial housing units in Qingdao were sold, a month-on-month decrease of 53.36% and a year-on-year decrease of 47.32%.