On the one hand, we will increase the construction and supply of affordable housing, so that wage and salary income groups can gradually realize home ownership; On the other hand, commercial housing such as "large households" is mainly oriented to improving demand, and it is the general trend to relax purchase restrictions and return to commodity attributes.
Xia Jinbiao. At the beginning of the new year, after the first-tier city of Shanghai loosened the purchase restrictions in the suburbs, Guangzhou further relaxed the purchase restrictions of "large households".
Recently, the General Office of the Guangzhou Municipal People's Government issued the "Notice on Further Optimizing the Policies and Measures for the Stable and Healthy Development of the Real Estate Market in Our City" (hereinafter referred to as the "Notice"), within the scope of the purchase restriction area, the purchase of housing with a construction area of more than 120 square meters is not included in the scope of the purchase restriction.
In addition, the "Notice" also supports "rent-one-buy-one" and "sell-one-buy-one", where resident families and individuals use their houses as leases or listing plans**, and the number of housing units under their names will be reduced accordingly when purchasing housing; Commercial service properties are no longer limited to the objects of transfer, which can be transferred to legal entities or individuals.
In fact, in September 2023, Guangzhou took the lead in adjusting the housing purchase restriction policy, lifting the purchase restriction in four towns of Huangpu, Panyu and Baiyun District. This time, Guangzhou once again optimized the property market purchase restriction policy, and relaxed the purchase restriction measures for "large units" of more than 120 square meters in Yuexiu, Haizhu, Liwan, Tianhe, Baiyun (excluding Jianggao Town, Taihe Town, Renhe Town, Zhongluotan Town), Nansha and other housing purchase restriction areas.
That is to say, regardless of whether they are registered in Guangzhou or not, households and individuals who purchase new houses with a construction area of more than 120 square meters, including newly built houses and second-hand houses, are not included in the scope of purchase restrictions, and "large units" of more than 120 square meters in Guangzhou can be bought at will.
From an objective point of view, Guangzhou's relaxation of the "large house" purchase restriction is a policy choice based on the real estate development situation in Guangzhou. At present, China's real estate market is still in the process of adjustment. Compared with other first-tier cities, Guangzhou is facing relatively large pressure on real estate decentralization.
According to the statistics of CRIC, a comprehensive real estate information service provider, in 2023, a total of 20,090 first-hand residences of more than 120 square meters will be traded in Guangzhou, accounting for 27%; 21,221 second-hand residential units of more than 120 square meters were sold, accounting for 20%. Specifically, in terms of the areas where Guangzhou is still implementing purchase restrictions, the supply and demand of first-hand residences of more than 120 square meters account for a larger proportion, with a total of **10,456 units in 2023, accounting for 42% of the restricted purchase area, and the transaction volume is 8,409 units, accounting for 37% of the restricted purchase area.
Since the second half of 2023, China's real estate policy has been continuously adjusted and improved. On July 24, 2023, the Politburo meeting proposed to adapt to the new situation of major changes in the relationship between supply and demand in the real estate market, and adjust and optimize the real estate policy in a timely manner.
Subsequently, all localities accelerated the adjustment and optimization of real estate policies, and the purchase restriction policy of "large-house" improved commercial housing was gradually relaxed. In September 2023, Suzhou will cancel the purchase of 120 square meters; In September 2023, Chengdu will cancel the purchase of 144 square meters with a ...... capGuangzhou's new policy marks the relaxation of the purchase restriction policy for "large households", which has spread from Suzhou, Chengdu and other new first-tier cities to first-tier cities. At present, the downward pressure on real estate still exists, and policies such as the relaxation of purchase restrictions for "large households" are also likely to be implemented in other first-tier cities.
In addition to the policy choice made based on Guangzhou's real estate development situation, it is also an exploration of building a new housing system of "security + market".
On August 25, 2023, the "Guiding Opinions on Planning and Construction of Affordable Housing" deliberated and adopted by the executive meeting of the first executive meeting clarified two major goals, one is to increase the construction and supply of affordable housing; The second is to promote the establishment of a new model for the transformation and development of the real estate industry, so that commercial housing can return to commodity attributes and meet the demand for improved housing.
The "Notice" is based on "establishing first and then breaking" and "seeking progress while maintaining stability", and plans to build 10,000 units of affordable housing and 100,000 units of affordable rental housing for sale in 2024, and issue housing rental subsidies 180,000 households, etc. This is conducive to Guangzhou to build a new housing system of "security + market" on the basis of liberalizing the purchase restrictions of "large households" and stabilizing the commercial housing market, so as to achieve a smooth transition to a new model of real estate development.
From the perspective of countries that have adopted the dual-track housing system of "security + market" in the world, the rigid needs of the group mainly have national security to achieve the goal of people's livelihood security for the homeowners; Improvement demand such as "large households" is supplied by the market to promote the development of the real estate market. On the basis of strengthening the construction and supply of affordable housing, Guangzhou will release the purchase restrictions of "large units" of more than 120 square meters, which will undoubtedly better meet the demand for improved housing and boost the real estate market, and at the same time, it will also be conducive to the construction of the "security + market" housing dual-track system.
In short, with the gradual relaxation of the purchase restriction policy for improving demand and the vigorous construction and supply of affordable housing, China's affordable housing and commercial housing will develop in a coordinated manner, and the dual-track housing system of "security + market" will be gradually improved. On the one hand, we will increase the construction and supply of affordable housing, so that wage and salary income groups can gradually realize home ownership; On the other hand, commercial housing such as "large households" is mainly oriented to improving demand, and it is the general trend to relax purchase restrictions and return to commodity attributes.