Recently, officials have voiced their voices on the real estate market one after another, involving the reduction of down payment and mortgage interest rates, the reduction and exemption of taxes and fees for changing houses, and the implementation of the policy of "recognizing houses without recognizing loans", among which the relevant expressions of "recognizing houses without recognizing loans" have attracted much attention from the market. Industry experts said that from the perspective of different urban energy levels, the policy of "recognizing housing but not recognizing loans" has the greatest impact on first-tier cities, which will significantly reduce the cost of improving housing demand. At present, the four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen have expressed their views and will implement them in accordance with the requirements of relevant meetings to support rigid and improved housing demand.
Ministry of Housing and Urban-Rural Development (MOHURD): Implement the policy
of "recognizing houses without recognizing loans" on July 28. According to China Construction Daily, Ni Hong, Minister of Housing and Urban-Rural Development, recently held a forum for enterprises, stressing the need to continue to consolidate the trend of stabilization and recovery of the real estate market and vigorously support rigid and improved housing demand. We will further implement policies and measures to reduce the down payment ratio and loan interest rate for the purchase of the first home, reduce and exempt taxes and fees for the purchase of improved housing, and "recognize the house without recognizing the loan" for individual housing loans. We will continue to do a good job in guaranteeing the delivery of buildings, speed up the delivery of project construction, and effectively safeguard the legitimate rights and interests of the people.
A few days ago, the meeting of the Political Bureau of the Central Committee just made the latest adjustment to the real estate market. The meeting pointed out that we should effectively guard against and resolve risks in key areas, adapt to the new situation of major changes in the supply-demand relationship of China's real estate market, timely adjust and optimize real estate policies, make good use of the policy toolbox according to the city, better meet the rigid and improved housing needs of residents, and promote the steady and healthy development of the real estate market. Yan Yuejin, research director of
Yi Ju Research Institute, told CCTV: "The enterprise forum of the Ministry of Housing and Construction mentioned three policies in the real estate market, including reducing down payment and mortgage interest rates, reducing and exempting taxes and fees for changing houses, and canceling the policy of" recognizing houses and recognizing loans ", involving financial and taxation fields. It fully reflects the guidance of relevant departments to implement the spirit of the meeting of the Political Bureau of the Central Committee, adjust and optimize the policies related to house purchase, and also helps to guide local governments to continue to relax policies in such areas. Among them, the implementation of the policy of "recognizing houses without recognizing loans" is more innovative. From the actual operation of various places, especially the first-tier cities, the policy in this field is too tight, which leads to the high cost of second suite subscription.
Reporters noted that the Ministry of Housing and Construction held a symposium on enterprises, which was another Ministry's voice on real estate policy after the People's Bank of China's recent statement on the "stock mortgage interest rate" policy. Among them, the relevant expression of "recognizing houses but not recognizing loans" has attracted much attention from the market.
The so-called "recognizing the house but not the loan" usually means that when commercial banks determine the loan ratio, they only determine whether there is a house under the name of the family, regardless of whether the family has a housing loan record. At present, some key cities to implement "recognize the housing and recognize the loan", that is, "sell one buy one" as long as there is a nationwide purchase loan record, the purchase of residential loans are recognized as the second set. Zhang Dawei, chief analyst
of Centaline Property, said: "Take Beijing as an example, the current housing policy is to'recognize the house and recognize the loan '. The minimum down payment ratio for commercial loans for second homes is 60% for ordinary houses and 80% for non-ordinary houses.". The strict policy of "recognizing houses and recognizing loans" has indeed hit speculators, and at the same time, it has also caused "accidental injury" to the demand for improved housing, which restricts the release of reasonable housing demand. Since
last year, Zhengzhou, Hangzhou, Nanjing, Suzhou, Tianjin and other cities have optimized the policy of "recognizing houses and recognizing loans". According to the monitoring data of Zhongzhi Research Institute, the cities with strict purchase restrictions and the implementation of the policy of "recognizing houses and recognizing loans" mainly include Beijing, Shanghai, Guangzhou, Shenzhen, Chengdu, Xi'an, Xiamen, Changsha, Hefei, Wuhan, Qingdao, Fuzhou, Ningbo, Chongqing, Shijiazhuang and Zhuhai. After the meeting of the Political Bureau of
the Central Committee and the Enterprise Symposium of the Ministry of Housing and Construction, up to now, the four first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen have expressed their views on the spirit and requirements of the meeting. The Beijing Municipal Commission of Housing and Urban-Rural Development and the Shenzhen Municipal Bureau of Housing and Urban-Rural Development have successively issued documents saying that they will work with relevant departments to implement them in light of the actual situation, vigorously support and better meet the rigid and improved housing needs of residents, and promote the steady and healthy development of the local real estate market. In an interview with the media, Guangzhou Housing and Construction Bureau said that it would introduce relevant policies and measures as soon as possible to support and better meet the rigid and improved housing demand and promote the steady and healthy development of the real estate market in Guangzhou. The Shanghai Municipal Housing and Construction Commission and the Housing Administration held a special meeting, saying that they would implement policies according to the city, support rigid and improved housing demand, do a good job in ensuring the delivery of buildings, people's livelihood and stability, and promote the steady and healthy development of the real estate market in Shanghai.
"So far, the four first-tier cities have made statements, and there may be relevant policy adjustments in the follow-up." Yan Yuejin pointed out that the policy of "recognizing houses but not recognizing loans" has the greatest impact on first-tier cities. Taking Shanghai as an example, under the policy of "recognizing houses and recognizing loans", the down payment ratio of many buyers is as high as 70% and the mortgage interest rate is as high as 5.25%. If it is changed to "recognizing houses but not recognizing loans", the down payment ratio can be adjusted to 35% and the mortgage interest rate can be reduced to 4.55%. It can significantly reduce the down payment and interest rate cost of improved housing demand.
He further pointed out: "If the first-tier cities relax the policy of'recognizing houses but not recognizing loans', the market in such cities will recover and rebound in the near future, which is expected to have the greatest impact on new houses, while second-hand houses still need time to digest due to the large number of listings.". Generally speaking, both sellers and buyers should pay close attention to such policies in the near future and actively adjust their strategies.
As for the policy landing, Zhang Dawei believes that "recognizing houses but not recognizing loans" is not expected to be fully implemented in first-tier cities, and is likely to take the lead in pilot projects in remote areas of first-tier cities. "This policy is considered to be the most likely to be loosened from top to bottom, but from the perspective of Beijing, how to loosen it will have a huge impact. The market thinks it will be one-size-fits-all, but it is likely to be targeted at a small number of people.". For example, "one district, one policy", two-child families, job-housing balance or old-age families.
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