Big signal! The whole city of Wuhan has relaxed the purchase restrictions, families with multiple children can buy a new suite, and the threshold for foreigners to buy a house for the first time is lowered...
Another city relaxes purchase restrictions!
On the afternoon of May 22, Hubei Provincial People's Government's official Douyin account "Hubei Release" announced that all four major urban areas in Wuhan have lifted purchase restrictions.
Subsequently, the "Hubei Publishing" official Weibo and the official WeChat account announced that Wuhan has introduced the latest measures to support reasonable housing needs, including families with two or three children living in the city who are dependent on parents or children, and can purchase a new suite in the restricted area , For foreigners who purchase a house for the first time in the restricted area, the tax or social security period will be adjusted from 2 years to 1 year.
This means that the purchase restriction policy in Wuhan has been loosened.
Industry insiders interviewed by Securities Times Securities China reporters believe that this fully shows that policy relaxation in hot second-tier cities or new first-tier cities has become a major trend. After cities such as Nanjing, Hangzhou, and Chengdu relax, expectations and calls for relaxation in Wuhan are higher. The easing was in line with expectations.
However, judging from the suspension of the second-hand housing purchase restriction policy in Nanjing, although the exit of the regulatory policy or the bailout of the property market is the main policy tone of the current property market, we must adhere to the bottom line of "housing, not speculating".
Wuhan eases purchase restrictions
On the afternoon of May 22, the Hubei Provincial People’s Government’s official Douyin account “Hubei Announcement” announced that all four far-flung urban areas in Wuhan have lifted purchase restrictions, including Jiangxia District, Dongxihu District, Economic Development District, and Huangpi District.
At the same time, these four remote urban areas are no longer in the qualification verification area.
Subsequently, the "Hubei Release" official Weibo announced that Wuhan has introduced the latest measures to support reasonable housing needs.
There are three specific measures:
For families with household registration in the city whose parents come to Han to look for their children or whose children come to Han to look for their parents, and who already have two houses in Wuhan, they can buy one new house in the restricted area;
For households with household registration in the city who have two or three children in accordance with the national fertility policy, and who already have two houses in Wuhan, they can purchase one new house in the purchase-restricted area;
For non-resident households who purchase ordinary housing for the first time in the restricted areas, the period for paying social security or personal tax in this city is adjusted from 2 years to 1 year.
Then, the official account of "Hubei Release" also issued a document saying that Wuhan has introduced the latest measures to support reasonable housing demand.
In addition to mentioning the above three measures, the article also stated that on May 15, the central bank and the China Banking Regulatory Commission issued a number of financial support measures such as a 20 basis point reduction in the first home loan interest rate. Newly issued commercial personal home loan interest rates.
In addition to the above-mentioned measures to support rigid and improved housing demand, the New Deal also includes a number of measures to support the reasonable financing needs of real estate development companies, including:
Guide financial institutions to support the reasonable financing needs of real estate development enterprises on the premise of preventing risks, and steadily increase the city's real estate development loans;
Increase the intensity of personal housing loans, shorten the loan approval and issuance cycle, and actively support the reasonable housing capital needs of households;
Increase financial support for the long-term rental market and the construction of affordable housing;
At the same time, maintain the order of the housing loan market, strengthen the management of consumer loans and business loans, and prevent credit funds from flowing into the real estate market in violation of regulations.
Policy relaxation in hot second-tier cities has become a trend
Regarding the relaxation of the purchase restriction policy in Wuhan, Yan Yuejin, research director of the Think Tank Center of the E-House Research Institute, told the Securities Times Securities China reporter that this fully shows that the policy relaxation in hot second-tier cities or new first-tier cities has become a major trend, including Nanjing, Hangzhou, Chengdu, etc. After the city relaxes, expectations and calls for Wuhan to relax are higher, and this relaxation is in line with expectations.
Wuhan's relaxation of purchase restrictions for three types of groups and the lifting of purchase restrictions in suburbs have released positive signals.
Yan Yuejin believes that the lifting of restrictions on purchases in the suburbs of Wuhan will objectively help promote the destocking of projects in the suburban markets of Wuhan, and will also help boost the market.
At the same time, Wuhan has relaxed the purchase restrictions for three groups of families, families with multiple children, and non-local families, which has a positive effect on increasing the qualifications of relevant groups to purchase houses and reducing the cost of house purchases.
"This time, Wuhan has carried out targeted relaxation of various groups of people who are currently attracting attention in the society, especially the relaxation of the house purchase policy for families with multiple children. It is the mainstream practice of policy relaxation in various places." Yan Yuejin said that previously, including Nanjing, Wuxi, Dongguan, Hangzhou, etc. have all relaxed the house purchase policy for families with multiple children, and it is a trend that localities will implement the relaxation of the purchase restriction policy in the future, which not only increases the population's birth size, but also reduces the cost of purchasing houses for families with multiple children. The development of real estate in such cities faces new opportunities, which will help to promote the short-term and medium-to-long-term dynamism of the real estate market.
Yan Yuejin also said that the current relaxation of such policies and superimposed other policies will have a positive effect.
In other words, under the "five restrictions lifted + mortgage interest rate cut + other policies", the real estate market does have the possibility of getting out of the bottom and bottom of the market.
Moreover, the relaxation of policies in such provincial capital cities also has a very good demonstration effect, which will help to promote the adjustment of market sentiment in surrounding cities and prefecture-level cities in the future.
With the current increase in the relaxation of policies in various places, it should be said that the development environment of the real estate market tends to improve, and the rhythm of buyers' subsequent entry into the market will also accelerate.
The improvement in real estate transaction data will also lead to an improvement in the sales and operating data of real estate companies, which is something worth looking forward to.
It is worth noting that although many cities have relaxed the purchase restriction policy, there is also the first city where the loosening policy has been suspended.
On May 20, Nanjing completely abolished the purchase restriction policy for second-hand houses, arousing widespread concern.
However, from the announcement that the purchase restriction was lifted in the afternoon, there was no need to provide proof of purchase for second-hand housing transactions. In the evening, the "official announcement" article of the Nanjing Housing Association was deleted, and an intermediary confirmed to the Securities Times and brokerage China reporters that the purchase restriction was restored, and the whole process took half a day. At the same time, Nanjing canceled the "half-day tour" policy of restricting the purchase of second-hand houses.
In this regard, Yan Yuejin said that the cancellation of the second-hand housing purchase restriction in Nanjing was suspended, indicating that there may be some new situations and new problems in the current policy relaxation.
From the perspective of second-hand housing, it is similar to the fact that foreigners can buy houses without restrictions, which may lead to a new round of speculation and even increase the demand for real estate speculation.
Therefore, when the policies of various regions are relaxed, they also need to adhere to a basic red line, that is, "housing and not speculating."
It is necessary to pay close attention to the market's absorption and feedback of policies, and prevent the sudden increase of various speculative demands, which interferes with the stable and healthy development of the real estate market.
Li Yujia, chief researcher of the Housing Policy Research Center of the Guangdong Provincial Planning Institute, also told the Securities Times Securities China reporter that the deregulation policy in Nanjing was stopped because it caused huge public opinion and touched the bottom line of "housing and not speculating."
The main policy tone of the current property market is to withdraw from regulatory policies or bail out the property market. However, we must adhere to the bottom line of "housing, not speculating," and gradually promote policy loosening and bailouts. We cannot run out of ammunition all at once.
"Recently, the central bank first lowered the lower limit of the first-home loan interest rate, and then lowered the LPR, and the interest rate quickly dropped from 5.4% to 4.4%. A lot of policies to bail out the property market have been introduced, in order to prevent the superposition of a package of policies to promote a substantial rise in house prices, especially in the second half of the year after the epidemic is completely controlled, the superimposed effect of the previous policies will be obvious, so cities should strengthen the guidance of regulatory policies." Li Yujia said.
Brokerage China Author: Zhang Da