China News Service, April 9 (China News Finance Reporter Zuo Yukun) Selling one for one, selling old and buying new, buying small and buying big... These are all important needs for housing improvement and consumption upgrade in the current real estate market. cycle.

　　How to make this cycle smoother? New attempts are ongoing. Since 2023, more than 30 cities have expressed support for the "old-for-new" housing market, and more and more "national teams" have entered the market to participate in acquisitions, which has become a new trend.

  Data map: A scene in Zhengzhou. Photo by Ding Youming

The "old for new" policy is further strengthened

　　According to the "Hai'an Release" WeChat public account, on April 2, a centralized issuance ceremony for "old-for-new" room tickets for commercial housing in Hai'an City, Jiangsu Province was held. After signing the contract, the first batch of 15 replacement owners immediately received room tickets produced by staff on site. This marks that Hai'an City's "old-for-new" house purchase policy is the first in the province to enter the substantive implementation stage.

　　According to reports, an owner who received the house ticket at the scene said that he replaced his 116-square-meter old house with a 236-square-meter new house. He used the 1.32 million yuan appraised for the old house as a down payment and the remaining 1.31 million yuan as a down payment. A 20-year repayable provident fund plus commercial loan.

　　"The policy operations in Hai'an are similar to those in other places in the past two years, which further illustrates that the 'trade-in' operation has increasingly become a mainstream policy tool this year, and has gradually transformed from a pilot and spontaneous nature in the past to a systematically planned and wide-coverage policy." Yi Yan Yuejin, research director of Ju Research Institute, said.

　　Also attracting attention recently is Zhengzhou, Henan. On April 1, Henan Zhengzhou Housing Management Bureau and other departments released the "Zhengzhou City's Work Plan to Promote "Selling Old, Buying New, and Trade-in the Old for New" in the Real Estate Market (Trial)". In 2024, Zhengzhou City plans to complete the "Sell the Old, Buy New, and Trade-in the Old for New" second-hand housing1 million units, further activating the second-hand housing market.

　　Yan Yuejin pointed out that in the past, "old for new" operations in various places were mostly spontaneous and scattered by enterprises, while Zhengzhou's operation was an "official version" with official guidance and systematic and orderly planning. This also shows that various localities are paying more and more attention to the "old-for-new" policy, and the support they provide is becoming more and more scientific and systematic.

　　Currently, the demand for improved housing is one of the focuses of real estate policy support. Data from the China Index Research Institute shows that since 2023, more than 30 cities have expressed support for "replacement of old with new".

  Data map: A salesperson introduces a property to a customer.

The entry of state-owned assets has become a trend

　　Sino-Singapore Finance found out that the way local governments support “replacement of old with new” can be roughly divided into several stages.

　　Initially, the focus was on encouragement, actively communicating with real estate companies, brokerage agencies and property owners, and launching services such as "replacement for new purchases"; secondly, the launch of subsidies, including transaction tax subsidies and home purchase subsidies, subsidies for individuals and developers, etc.; latest What is more, the "national team" takes action to purchase houses within a limited time under certain conditions as affordable housing or talent housing, completing the transaction of existing housing and the cycle of new housing.

　　Take Zhengzhou's newly released policy as an example. In addition to encouraging market transactions, it also proposes that Zhengzhou Urban Development Group Co., Ltd. (designated by the government as the acquisition entity) acquires second-hand housing, allowing the public to purchase improved new commercial housing through "selling old, buying new, trading old for new" .

　　"The acquired old houses will be used to enrich the supply of affordable rental housing. On the one hand, it can quickly achieve the supply target of affordable housing. On the other hand, it will also help revitalize second-hand housing, further smoothen the chain of first- and second-hand housing, and promote the restoration of the real estate market. " said Chen Wenjing, market research director of Zhongzhi Research Institute.

　　Similar operations also occurred in Taicang, Jiangsu last year. In November 2023, Taicang City will trial the "old-for-new" policy for commercial housing. Citizens can sell qualified second-hand houses to designated state-owned companies and then exchange them for new houses designated by the state-owned companies. The acquired old houses will be used for the supply of talent apartments and affordable housing. .

　　Yan Yuejin believes that in the process of continuous improvement of policies, various localities have gradually connected with the "three major real estate projects" in an orderly manner, so the work goals are clearer and more consistent.

  Data map: Commercial residential high-rise buildings. Photo by China News Service reporter Chen Chao

What issues need attention?

　　However, as a policy that is still being improved, there are inevitably some unclear aspects in the process of promoting the "old-for-new" housing.

　　Lawyer Wang Yuchen, director of Beijing Jinliu Law Firm, reminded that "trade-in for new" is actually the fusion of two house transaction processes, which is relatively more complex, has more points to consider, and affects the whole body. Therefore, the process settings need to be more clear and detailed, and the process control also needs to be rigorous.

　　In Liangxi District, Wuxi City, where the "old-for-new" program for commercial housing is being trialled, the owner, Mr. Cheng, not long ago went to consult about the details of the event, and there were several details that impressed him.

　　"First of all, the property rights of the old houses need to be clear, including paying off the loan to buy the house, paying the land transfer fee for the resettlement house, etc.; secondly, some of the new houses have not yet been handed over, and the handling of the transition period needs to be considered; and then there is the maximum deduction for the old house. 60% is valued by a third-party agency. Compared with selling by yourself, it is still uncertain whether it can meet psychological expectations." Mr. Cheng told a reporter from Sino-Singapore Finance.

　　Wang Yuchen said that if buyers want to purchase a house smoothly, they must understand the policy content in detail, review whether they meet the relevant conditions, choose the property carefully, and read the contract carefully.

　　"For example, in the relevant process design, the situation of the old house needs to be investigated and verified, such as the certificate of commercial property ownership, the letter of commitment on whether the property is rented/unleased, and whether there are any transaction restrictions on the commercial house to be replaced. Moreover, for the replacement, The individual owner of the house also needs to pay attention to verify some basic issues, such as credit information, etc.," Wang Yuchen said. (over)