Author: Renyu.
On December 15, the National Bureau of Statistics released data showing that from January to November, the national real estate development investment was 104045 billion yuan, the national commercial housing sales were 105318 billion yuan, and the sales of newly built commercial residential buildings in 59 of the 70 cities were **month-on-month**.
Second-hand residential sales, 70 cities second-hand housing **none**, this situation for the first time since statistics.
The capital is Beijing.
In the case of low housing prices, which are both volume and price declines, it is difficult for market confidence to recover, and the marginal effect of property market policies continues to decrease.
However, at the same time, the two first-tier cities of Beijing and Shanghai have successively issued blockbuster new policies for the property market, which have released significant benefits on the expansion of the scope of ordinary residential standards, the proportion of down payment for house purchases, the interest rate of housing loans, the reduction of the threshold for housing purchase funds, and the reduction of mortgage interest expenses.
As the two major first-tier cities that are recognized as truly national, in the current situation of the national property market, the two first-tier cities have joined forces to boost the confidence of the national real estate market, which can be said to be "full of sincerity" and "significant"!
Lujiazui, Huangpu River, Shanghai.
The property market policy, coupled with the previous announcement of the implementation of the policy of "recognising housing without recognising loans" in Beijing and Shanghai, is expected to continue to guide the national property market to gradually stabilize.
The property market in Beijing and Shanghai is good, and the most concerned is the reduction of the down payment ratio and the expansion of the scope of the standard for adjusting ordinary residences.
In the second-hand housing market, due to the continuous housing prices in Beijing and Shanghai, most of the properties were previously identified as non-ordinary residences, so they all need a high down payment ratio of 7 percent.
With the lowering of the standard for the identification of ordinary residences, many second-hand houses that have been held for more than 5 years can now be identified as ordinary housing, therefore, when the first time can be exempted from value-added tax and personal income tax, the approved levy ratio has also decreased year-on-year, and the scope of commercial housing of ordinary residential buildings has been greatly expanded, which will increase from about three percent to about seventy percent in the past, and the number of willing buyers will also increase significantly, and the market will usher in more willing buyers.
The adjustment of the mortgage interest rate will reduce the burden of interest and monthly payment on the buyers, so that the second-hand housing transaction can enjoy more preferential tax policies, effectively reduce the cost of housing transactions, and let the people get more benefits.
On December 13, at the 2023-2024 China Economic Annual Conference held at the China Center for International Economic Exchanges, Dong Jianguo, Vice Minister of the Ministry of Housing and Urban-Rural Development, said that from January to November this year, the country's primary and second-hand housing as a whole achieved positive year-on-year growth, and the proportion of second-hand housing transactions in the country reached 371%, creating a record high, the transaction volume of second-hand housing in 7 provinces and municipalities directly under the central government has exceeded the transaction volume of new commercial housing, "this total positive growth indicator, indicating that housing demand continues to remain stable, there is no obvious contraction, but the transaction structure side has changed, second-hand housing transactions have replaced some new housing transactions."
Driven by policies, the future housing demand will continue to be released steadily, the property market as a whole will also show a recovery, with the overall economic recovery and a series of real estate policies continue to play a significant role, the main indicators in the real estate sector will also show signs of marginal improvement.
If the market of Beijing and Shanghai heats up, it will likely play a leading role in the overall market, and the two first-tier cities will release a major benefit synchronously, which will help support residents' demand for rigid and improved housing, activate the market, and bring "real money" to home buyers.
This time, Beijing and Shanghai have successively relaxed the conditions for buying houses and released multiple preferential policies, which undoubtedly sends a positive signal to the market, so the trend of the real estate market rebounding in 2024 is expected to be more clear. Beijing, Shanghai, Beijing property market, Shanghai property market