On December 14, five departments, including the Beijing Municipal Commission of Housing and Urban-Rural Development, the Beijing Branch of the People's Bank of China, the Beijing Supervision Bureau of the State Financial Supervision Administration, the Beijing Housing Provident Fund Management Center, and the Beijing Municipal Taxation Bureau of the State Administration of Taxation, jointly issued the Notice on Adjusting and Optimizing the City's Ordinary Housing Standards and Individual Housing Loan Policies. The notice clarifies that from January 1, 2024, ordinary housing in the city enjoying preferential tax policies shall meet the following conditions at the same time: the building floor area ratio of the residential community is 10 (inclusive) or above;The floor area of a single house is less than 144 square meters (inclusive);Housing transactions within the 5th Ring Road are below 85,000 yuan square meters (inclusive), housing transactions in the 5-6th Ring Road are below 65,000 yuan square meters (inclusive), and housing transactions outside the 6th Ring Road are below 45,000 yuan square meters (inclusive).
In addition, the down payment ratio for the first and second homes will be adjusted, and the down payment ratio for the first home will be uniformly reduced to 30%, and the minimum down payment ratio for the second home will be 40%. In addition, the lower limit of the interest rate policy for new housing loans issued by commercial banks will also be adjusted, and the interest rate for the first home loan will be as low as 42%。
On the same day, the Shanghai Municipal Commission of Housing and Urban-Rural Development and other departments issued a notice to adjust the standard of ordinary housing in Shanghai. The notice makes it clear that ordinary housing that can enjoy preferential policies should meet the following conditions at the same time: first, multi-high-rise housing with more than five floors (including five floors), as well as old-fashioned apartments, new-style alleys, and old-style alleys with less than five floors;Second, the construction area of a single house is less than 144 square meters (including 144 square meters). It will come into force on December 15.
In addition to adjusting the standard of ordinary housing, Shanghai has also further optimized the differentiated housing credit policy. The lower limit of the interest rate of the commercial personal housing loan for the first home is adjusted to not be lower than the market interest rate (LPR) of the corresponding term loan minus 10 basis points, and the minimum down payment ratio is adjusted to not less than 30%;The lower limit of the interest rate of commercial personal housing loans for second housing is adjusted to not be lower than the market interest rate (LPR) of the corresponding term loan (LPR) plus 30 basis points, and the minimum down payment ratio is adjusted to not less than 50%.
At the same time, in order to support the promotion of the high-quality development of the "five new cities" and the key areas of north-south transformation, and promote the integration of industry and city, and the balance between jobs and housing, differentiated policies will be implemented in the Lingang New Area of the Free Trade Zone and the six administrative regions of Jiading, Qingpu, Songjiang, Fengxian, Baoshan and Jinshan, and the lower limit of the interest rate of commercial personal housing loans for second housing will be adjusted to not be lower than the interest rate of the corresponding term loan market (LPR) plus 20 basis points, and the minimum down payment ratio will be adjusted to not less than 40%. According to China News Weekly).