China News Service, March 27 (China News Finance Reporter Zuo Yukun) Recently, the real estate industry has been receiving frequent reports of good news, driving real estate stocks to continue to strengthen on the 25th and 26th. As of the close of trading on the 26th, Dalong Real Estate, Beijing Investment Development, Tianbao Infrastructure, and Shanghai Industrial Development were trading at their daily limit, while leading companies such as Vanke, Poly Development, and China Merchants Shekou were generally higher.
Looking back at the news, financial policies continue to inject confidence into the real estate market, and first-tier cities such as Shenzhen are still exploring ways to relax policies. Is the next “big move” in the property market on the way?
Data map: There are many buildings in the city. Photo by reporter Wang Dongming
With intensive vocalization, real estate has gained attention again
According to the official website of the People's Bank of China, Pan Gongsheng, Governor of the People's Bank of China, attended the China Development Forum on the 25th and pointed out that the real estate market has shown some positive signals and has a solid foundation for long-term healthy and stable development. The fluctuations in the real estate market have limited impact on the financial system.
Positive signals can be understood in many ways. For example, judging from the real estate market data from January to February released by the National Bureau of Statistics on March 18, the decline in real estate development investment narrowed for the first time since it continued to expand in February last year, which is considered a signal of marginal improvement. In terms of market performance, data from the Shell Research Institute shows that from January to February 2024, the transaction volume of second-hand houses in China's key 50 cities continued to recover upwards. Although it was not as high as the high base in the same period last year, it increased by 28.5% compared to the same period in 2022.
In addition, the State Council executive meeting held on March 22 put a lot of emphasis on real estate. While emphasizing the importance of the real estate industry, it also made it clear that real estate policies should be further optimized, continue to ensure the delivery of buildings, people's livelihood, and stability, and further promote urban real estate. The financing coordination mechanism has been implemented and effective, and relevant support policies have been systematically planned to effectively stimulate potential demand.
The industry believes that this State Council executive meeting emphasized the need to "effectively stimulate potential demand", and local demand-side support policies are expected to accelerate follow-up.
During the National Two Sessions this year, Ni Hong, Minister of Housing and Urban-Rural Development, also emphasized that cities have now been given full autonomy in regulation, and urban governments must shoulder their responsibilities. According to the population situation, supply and demand situation and security needs, we must prepare and implement housing development plans, implement city-specific policies, and optimize real estate policies to stabilize the real estate market.
Chen Wenjing, market research director of China Index Research Institute, said that first-tier cities may continue to optimize purchase restriction policies, and second-tier cities are expected to completely cancel restrictive policies. Core cities still have room for policies such as lowering down payment ratios, lowering mortgage interest rates, and lowering transaction taxes and fees.
"Among them, policy support for diversified improvement needs is also expected to continue to increase. For example, core cities such as Beijing, Shanghai, and Shenzhen can relax purchase restrictions on large-scale housing. In addition, more cities can also lower the home purchase threshold for families with multiple children and elderly families. , increasing the provident fund loan limit and increasing the number of provident fund loans to support improvement needs." Chen Wenjing said.
Data map: Shenzhen Bay Talent Park. Photo by reporter Chen Wen
Supply and demand are linked, and many places are hearing the news
Recently, a notice document issued by the Shenzhen Municipal Planning and Natural Resources Bureau regarding the cessation of the implementation of the "Notice on Implementing Requirements for Residential Unit Size Proportions in accordance with National Policies" has been circulated on the Internet. On the 26th, staff of the bureau confirmed the authenticity of the document, which means that the household ratio requirement known as the “7090 policy” has officially been withdrawn from Shenzhen.
"This policy originated from the regulations of the Ministry of Housing and Urban-Rural Development in 2006, which requires that the proportion of housing area below 90 square meters in residential projects must account for more than 70%. It aims to adjust the supply structure of the real estate market to ensure that real estate residential products are more reasonable. However, as the market Supply and demand relationships and market conditions change, and policies are adjusted along with market changes," explained Sun Hongmei, senior analyst at the South China Branch of the China Index Research Institute.
"In layman's terms, it actually means 'the era of buying big houses has arrived.'" Yan Yuejin, research director of E-House Research Institute, said that this fully reflects the idea of "people, housing, land and money", that is, based on the changing needs of "people", It is very important to actively make adjustments and optimizations in terms of "housing" and "land". The development direction of "making high-quality residences" is very important.
At the same time, on the financing side, the real estate financing coordination mechanism is considered to be an important measure to meet the reasonable financing needs of real estate companies of different ownerships equally and to solve real estate financing problems.
On March 25, according to the latest data from the Guangdong Supervision Bureau of the State Administration of Financial Supervision and Administration, 21 cities in Guangdong have established urban real estate financing coordination mechanisms and completed the push of the first batch of project "whitelists." Among them, the bureau has completed more than 60 credit approval projects within its jurisdiction, with an approved credit amount of 16.194 billion yuan, and has actually provided financing of more than 7 billion yuan.
In addition, Guangzhou, Lanzhou, Wuhan and other cities have successively released the second batch of "white list" projects, and many leading real estate companies have announced the financing status of real estate projects shortlisted for the "white list".
"The urban real estate financing coordination mechanism is an important starting point for promoting the stable development of real estate. It is expected that relevant supporting measures will continue to be implemented. The cash flow of real estate enterprises, especially some private enterprises, is expected to be improved, and the overall positive impact on the market may be further apparent." Chen Wenjing said. (over)