China News Service, Beijing, February 8: Title: Four major first-tier cities relaxed housing purchase restrictions before the holidays to send a major policy signal
China News Service reporter Pang Wuji
From January 27 to February 7, in just 12 days, China’s four major first-tier cities, Beijing, Shanghai, Guangzhou and Shenzhen, all introduced new property market policies to relax housing purchase restrictions. Industry experts believe that as the "wind vane" of China's real estate market, first-tier cities' "tacit agreement" on the demand-side policy of relaxing housing purchase restrictions will be closely related to the supply-side risk prevention and the construction of "three major projects" (affordable housing construction, "both leisure and emergency" public infrastructure Facilities construction, urban village renovation) create a resonance effect, which is expected to drive stability in the second-tier and even national commercial housing markets.
On the evening of the 7th, Shenzhen introduced new policies for the property market. After the purchase restriction policy is adjusted, people who have settled in Shenzhen can buy a house immediately. For those who do not have Shenzhen household registration, the number of years for paying social security or income tax will be reduced from the original 5 years to 3 years.
On February 6, Beijing adjusted its purchase restriction policy and relaxed the "double purchase restriction" on housing in Tongzhou District. If families who have settled or are employed in Tongzhou District need to purchase commercial housing in Tongzhou District, they only need to meet Beijing's purchase restrictions. The restrictions on settling in Tongzhou or paying taxes and having social security for three years have been removed. Shanghai announced that it would relax purchase restrictions for singles starting from January 31; on January 27, Guangzhou relaxed purchase restrictions for houses with a construction area of more than 120 square meters.
Optimizing and adjusting the strict control policies introduced during the overheating period of the real estate market is the main direction of recent real estate market policies across China. Most second- and third-tier cities have withdrawn from purchase restriction policies. According to agency statistics, currently only some areas in Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Tianjin, Xi'an, Hangzhou, Hainan and other places still maintain purchase restrictions.
This time, the four major first-tier cities have a tacit understanding in adjusting and optimizing property market policies and basically maintain the same rhythm. From the previous implementation of "recognize a house but not a loan" to the reduction of down payment ratio and mortgage interest rate, to the recent adjustment of purchase restriction policy, Yan Yuejin, research director of E-House Research Institute, believes that the four first-tier cities have basically maintained the same pace.
This also sends an important signal: various localities and various property market policies are expected to resonate.
Li Yujia, chief researcher of the Housing Policy Research Center of the Guangdong Provincial Institute of Urban Planning, pointed out that the four first-tier cities concentrated on adjusting home purchase restriction policies before the Spring Festival in the hope of releasing a positive signal to the market through consistent and moderate policy adjustments, and at the same time saying goodbye to fighting alone and forming synergy. , boosting market expectations.
Comparing the current round of home purchase policy adjustments in first-tier cities, Li Yujia said that the specific policies between Beijing, Shanghai, Guangzhou and Shenzhen are obviously different, and the characteristics of "one city, one policy" are prominent. Classified from the city level, the property market in Beijing and Shanghai is relatively stable and the policies are more stringent. They are relatively cautious in relaxing the purchase restriction policy. They focus on implementing the new model of housing for living, not speculation and promoting real estate development. They are not based on the short-term real estate market. Stable consideration and eager to exit the purchase restriction policy. Guangzhou-Shenzhen property market policies are relatively strong, but there are also differences between Guangzhou and Shenzhen.
In general, Yan Yuejin said that first-tier cities still maintain the rhythm of "small steps and fast running" and have not completely canceled purchase restrictions, but maintain the flexibility of the policy. This is an important feature of policy adjustment in core cities.
Looking forward to the market outlook, Li Yujia believes that in addition to the centralized adjustment of purchase restriction policies in first-tier cities, the loan prime rate (LPR) and mortgage loan interest rates are also expected to be lowered in the first quarter of this year. In addition, the list of projects supported by the "three major projects" on the supply side has been implemented. After the recent launch of the real estate financing coordination mechanism, more and more project financing has been implemented, which will ultimately boost the real estate market from both supply and demand ends. The property market is expected to be strong in the first quarter of this year Performance will be better than last year's fourth quarter. (over)