The Paper reporter Ji Simin
Since the beginning of this year, many cities across the country have issued new property market policies to optimize the regulation of the real estate market. Among the many property market policies, Changsha, Hunan Province’s “revitalizing stock” with “rent-for-house ticket” has aroused heated discussions in the market, and was once regarded as “one stone, many birds” Act of.
On May 8 this year, the Changsha Municipal Leading Group for the Cultivation and Development of the Housing Rental Market issued the "Pilot Implementation Plan for Promoting the Multi-subject Supply of Changsha's Rental Housing and Multi-channel Guarantee to Revitalize the Existing Housing" (referred to as the "Program").
The "Plan" pointed out that the houses that have been handed over by online signing and filing or have been registered for real estate will not be included in the calculation of the number of family housing units after they have been revitalized for rental housing.
The pilot program introduced by Changsha aims to unblock the market channels of new houses, second-hand houses and rental housing, guide the overall planning and diversion of rigid demand, modified demand and rental demand, and promote a virtuous circle of the real estate market.
Today, the pilot program of "revitalizing existing housing" in Changsha is a full month. What is the situation of the property market?
3,025 existing housing units have been applied for as rental housing
Since the beginning of this year, Changsha has introduced two policies related to the real estate market.
According to information from the Changsha Municipal Bureau of Housing and Urban-Rural Development, starting from May 6, the interval between the purchase of a second set of commercial housing by families in the purchase-restricted area of Changsha will be calculated as 4 years.
This means that the determination of the time of purchase of a house recognizes both the online signature and the registration of ownership.
According to the regulations promulgated by Changsha in 2018, households with registered permanent residence in Changsha who already have one set of housing in the restricted area can purchase the second set of commercial housing after obtaining the real estate ownership certificate for 4 years.
However, due to the limitation of the time limit for housing online signing, some home buyers are still unable to obtain the qualification to buy a house.
On May 8, Changsha issued the "Pilot Implementation Plan for Promoting the Multi-subject Supply of Changsha's Rental Housing and Multi-channel Guarantee to Revitalize the Existing Housing", releasing some of the demand for improvement.
According to the "Changsha Evening News" report, Ms. Li, who lives in Yuelu District, wants to buy a house because her 5-year-old daughter is about to enter school, so that her children can enjoy better educational resources, but she has no qualifications to purchase a house because her online housing has not been signed for 4 years. .
On May 28 this year, Ms. Li successfully revitalized the house under her name as a rental house in just 7 days, and obtained the qualification to purchase a house to improve the house.
Changsha has revitalized the existing housing for rental housing, so that buyers can obtain new "room tickets" for entering the market.
According to public information, as of June 8, the full moon when the New Deal was implemented, a total of 3,025 existing housing units have applied for rental housing, of which 833 units have been signed.
Eligible for first home loan
One month after the "Plan" was released, according to the "Changsha Release" news on June 10, in response to the issue of how to identify the commercial loan or provident fund loan after the citizen has provided the stock house as a rental house, it is clarified that the citizen will be the only house under his name. If you purchase a house after it is used as a rental house, those who meet the conditions can enjoy the loan policy for the first house; if there are two houses, one house can be revitalized and used as a rental house, and the loan can be used for the second house.
At the same time, Changsha is currently studying the issue of purchasing a set of improved housing according to its reasonable housing needs after revitalizing multiple existing houses for rental housing.
According to the previous response of the relevant person in charge of the Changsha Housing and Urban-rural Development Bureau, the existing houses are revitalized for rental housing, and if one or more houses are revitalized for leasing on a family basis, the reduction will be temporarily reduced according to the principle of "one household is reduced by one". The total number of family houses, that is, families with multiple houses for rent, will only be deducted by one when calculating the number of family houses, which does not affect the revitalization of multiple houses for rental.
Industry insiders believe that Changsha's plan to revitalize existing housing is a major innovation. This policy can effectively revitalize existing housing and is also beneficial to some improvers, but it cannot effectively stimulate the replacement demand of "buy one, sell one".
A local resident in Changsha said, "The regulation in Changsha has always been very strict. This policy mentions that the family housing can be used for rental housing to obtain a house ticket, which is a great deal for families with multiple houses with a capital base. It's a good thing, but it doesn't have much effect on the replacement customers, because there is no principal to buy a house after getting the house ticket, and if there is a loan for the current family house, there is also pressure to buy another set."
Liang Nan, an analyst at Zhuge Housing Data Research Center, believes that the "rent-for-purchase" method means that the purchase policy is no longer restricted, which is conducive to promoting the release of improving demand, releasing a certain amount of purchasing power for the market, and improving market sentiment. It has a positive effect, but it is worth noting that although the new policy has the intention of relaxing the purchase restriction, it is only a kind of support for the improvement demand, which echoes the policy orientation of the central government to support the reasonable housing needs of residents, and is in line with the "housing is not necessary." Fried" is the main tone.
New home transactions increased by 35% month-on-month, down nearly 50% year-on-year
From the data point of view, Changsha's property market has picked up in May.
According to data from Hunan Zhongyuan Research Institute, in May, the transaction volume of newly built commercial housing in the five districts of Changsha was 650,000 square meters, a month-on-month increase of 35%. The average transaction price in May was 13,842 yuan/square meter, a month-on-month increase of 2%.
But it is worth noting that compared with the same period last year, the transaction volume is still low, down by nearly 50%.
Yang Guo, an analyst at the Sha Branch of the China Index Research Institute, said that after the new policy in Changsha, the transaction volume of commercial housing rebounded slightly in May, but the market is still in a period of deep adjustment, and the transaction volume is far less than the same period last year.
On the whole, although Changsha has optimized its policies recently, it is weaker than other cities and has not yet met the expectations of homebuyers, which has limited boost to the market.
Chen Shixia, executive director of Hunan Central Plains Research Institute, also said that the model Changsha was still a model for national learning in the first half of the stable property market, but there was not much substantial supportive policy release.
Local intermediaries in Changsha said that the housing prices in Changsha have always been relatively stable, and they are basically just need and replacement customers.
From the perspective of the second-hand housing market, some intermediaries said that it is a buyer's market now, with more houses and fewer customers.
For homebuyers, now is a good time to buy a house, but for landlords, it’s still a bit of a bargain if it’s not urgent for money.
The above-mentioned intermediaries mentioned that the overall housing prices in Changsha have always been relatively stable, and the listed prices of second-hand houses are relatively stable.
However, the agency reported that the prices of some second-hand houses in its area have dropped compared with last year.
Taking a house of about 132 square meters in Kaifu District, Changsha as an example, the Zhuge Housing Search Platform data shows that the house was quoted at 1.778 million yuan when it was put on the shelves on June 10, 2021, and the latest price of the house is 1.688 million yuan. , down about 5% year-on-year.
Another example is a rough house of about 117 square meters. The house was listed on July 18, 2021 for 1.65 million yuan. The current lowest price is 1.5 million yuan, and the price has dropped by 9%.
The intermediary said that for some buyers, there is a mentality of "buying up and not buying down", so Changsha's housing prices have been tepid.
Another agent in Furong District said that the price of second-hand housing in Changsha has dropped slightly compared with the previous year or two.
The above-mentioned intermediaries said that the current policies are favorable for improving customers. The rent-for-purchase policy, preferential tax and fee policies, and reduction of bank interest rates are all conducive to real estate transactions. As more people buy, housing prices will gradually improve.
The preferential tax policies and bank interest rates mentioned by the intermediary have not yet been implemented.
The Hunan Provincial Development and Reform Commission and the Hunan Provincial Department of Commerce issued "Several Measures on Further Promoting the Sustained Recovery of Consumption" on June 9. It mentioned that to stabilize housing consumption, adopt policies and measures to support talent purchases, financial subsidies, exhibitions and sales promotions, etc. , and implement differentiated housing credit policies based on city policies to better meet residents' reasonable housing needs.
Guide financial institutions to lower housing loan interest rates and reduce the down payment ratio of housing commercial loans.
Improve the long-term rental policy and increase the supply of affordable rental housing.
Support Changsha City to resume the implementation of the preferential deed tax rate for second homes.
Encourage the increase of the maximum loan amount of the housing provident fund, and the first home can be borrowed or loaned.
Qualified cities and states are encouraged to explore housing support policies for families with "two children" and "three children".
Currently, the deed tax rate is 4% for the purchase of a second home in Changsha, regardless of the size of the house.
Prior to this, Hunan levied deed tax at a reduced rate of 1% for individuals who purchased the only house in a family with an area of 90 square meters and below; deed tax was levied at a reduced rate of 1.5% for those over 90 square meters.
For two sets of improved housing, the deed tax shall be levied at a reduced rate of 1% for houses of 90 square meters and below; the deed tax shall be levied at a reduced rate of 2% for those over 90 square meters.
However, since April 22, 2019, the preferential deed tax rate for the second improved housing for families has been stopped within the city of Changsha.
Chen Shixia pointed out that in general, the superposition effect of policies will gradually become prominent, and customer confidence will gradually recover. It is expected that the Changsha property market in June will increase in volume and price, but at the same time, the biggest uncertainty facing the property market now is customers' expectations for the future. The uncertainty of income expectations, especially the decline in the purchasing power of the working class, is expected to perform well in the luxury housing market in the future, and the affordability of the rigid demand and the first reform market will be affected by the economic downturn in the general environment.
At present, the property market is still a buyer's market. In the future, the recovery of Changsha property market transaction volume needs to be escorted by larger-scale policies, otherwise there will be a period of low-volume stalemate.
In this regard, Chen Shixia suggested that, in view of the current market and the large economic environment, Changsha can also appropriately reduce the down payment ratio for first-time home buyers and self-occupier customers who need to improve their second home, so as to activate the vitality of the market.
In addition, the restrictions on sales have been appropriately relaxed, such as shortening the period of sales restrictions to two years; the purchase restriction policy for second-hand houses has been adjusted appropriately to activate part of the demand for house replacement; in addition, in response to the national adjustment to the birth policy, for families with two children and three children It is recommended to add one more suite of housing qualifications.