Towards the end of the year, many places have introduced a new round of new policies for the property market, involving housing provident fund loans and supporting real estate enterprises to launch new models such as "new purchases". Looking forward to 2024, the institution believes that the real estate policy will continue to be optimized and adjusted, and the policies at both ends of supply and demand have room for force, while the corporate financing environment is expected to be improvedIt is expected that the land auction rules will continue to be relaxed, which will increase the activity of the land market and promote the stabilization and recovery of property market demand. The construction of the three key projects of affordable housing, urban village transformation, and "level-emergency dual-use" public infrastructure will become the starting point for building a new real estate development model.
Better play the role of the provident fund
On December 8, the Zhengzhou Housing Provident Fund Management Center issued the "Notice on Matters Concerning the Housing Provident Fund's Support for Families with Many Children to Rent and Purchase Housing", and decided to provide housing provident fund policy support to families with many children who rent and purchase housing. According to the notice, families with many children who do not have their own housing in the administrative area of Zhengzhou City and withdraw the housing provident fund due to rental housing can withdraw according to the annual contribution amount of the family or the maximum amount of rental withdrawal. If a family with many children uses a housing provident fund loan to purchase the family's first house for the first time within the administrative area of Zhengzhou City, the loan amount can be executed at 1 of the maximum loan amount2 times, currently available for 1.2 million yuan;For the purchase of the second improved housing of the family, the maximum amount of the loan shall be implemented, and 1 million yuan can be applied for at present.
On the same day, the Zhengzhou Housing Provident Fund Management Center issued the Notice on Matters Concerning the Housing Provident Fund to Support the Construction of Talents. The supported talents include: high-level talents, talents in urgent need of key industries, outstanding talents in social undertakings, and doctors. The support object can apply for a housing provident fund loan if it has paid into the housing provident fund for more than 6 months, and the housing provident fund payment records of the place where the work is moved out and the place where the person moves in can be combined. When the recipient of the support purchases the family's first house within the administrative area of Zhengzhou City, the loan amount can be determined in accordance with the housing provident fund loan policy for the first double-paying family. When the recipient of the support applies for a housing provident fund loan, the repayment ability can be determined according to the housing provident fund contribution base of the family in the place where the work is moved out or the place where the family moves in.
The "Notice on Adjusting Part of the Housing Provident Fund Policy" issued by the Nanjing Housing Provident Fund Management Center clearly states that from December 1, the maximum loan amount for the second use of housing provident fund loans to purchase a second house will be increased from the current 300,000 yuan and 600,000 yuan to 500,000 yuan and 1 million yuan.
On November 30, the Ministry of Housing and Urban-Rural Development held a key work promotion meeting and experience exchange meeting for housing provident fund in Chengdu, Sichuan Province. The meeting proposed that the housing provident fund system is facing new opportunities and challenges, and it is necessary to strive to accurately recognize changes, respond scientifically, and actively seek changes, accurately grasp the main tasks of building a new model of real estate development, deeply understand the work deployment of promoting the virtuous cycle of finance and real estate, and better play the role of housing provident fund in promoting the construction of a new model of real estate development.
Stimulate demand for improved housing
Recently, a series of new policies for the property market have been introduced in many places, involving a wide range of contents.
Hubei has recently introduced a new policy for the property market to promote the appropriate extension of the loan term. At the same time, we will support real estate enterprises to launch new models such as "new purchases" to better stimulate the demand for improved housing such as "exchanging small for large" and "selling old for new".
Dongxiang District, Fuzhou City, Jiangxi Province issued the "Notice on Printing and Distributing Supplementary Measures to Further Promote the Virtuous Cycle and Healthy Development of the Real Estate Industry in Dongxiang District". Strengthen provident fund policy support. The first is to increase the maximum amount of personal housing provident fund loans. Housing provident fund depositors who purchase the family's first self-occupied house within the city and apply for a personal housing provident fund loan will be increased from 600,000 yuan to 700,000 yuan. The second is to reduce the down payment ratio of personal housing provident fund loans. If the depositor purchases the first self-owned house within the city, the down payment ratio of the provident fund loan shall be adjusted to 20%;For the purchase of a second owner-occupied house, the down payment ratio of the provident fund loan will be adjusted to 30%. No more staging or re-trading houses. At the same time, it is encouraged to independently negotiate the postponement of principal repayment in accordance with the law. For the owners who are unable to deliver the house on time due to the reasons of the development enterprise, according to the wishes of the buyers, guide the financial institutions to relax the repayment period of the housing loan within the scope permitted by the policyFor personal housing loans that have been changed or terminated due to the purchase contract, financial institutions may independently negotiate with home buyers in accordance with the principles of marketization and rule of law.
Looking forward to 2024, the agency believes that the real estate policy is expected to continue to loosen, promoting the stabilization and recovery of property market demand. According to the China Index Research Institute, the relevant policies of the real estate market will continue to be optimized and adjusted, and there is room for policies at both ends of supply and demandCorporate financing conditions are expected to improve;The funds and supporting measures of "guaranteed delivery of buildings" may be further followed up to promote the resolution of project delivery risks;At the same time, it is expected that the rules for land auctions in various regions will continue to be relaxed, driving the activity of the land market to increase. China Securities Construction Investment** believes that the construction of three key projects, including affordable housing, urban village transformation, and "level-emergency dual-use" public infrastructure, will become the starting point for building a new real estate development model and help the market to repair and build a bottom.