The competent authorities have made it clear that the future real estate regulation policy will be delegated to the local government.
Recently, the Ministry of Housing and Urban-Rural Development said at the deployment meeting of the urban real estate financing coordination mechanism that it is necessary to adhere to the city-specific policy, precise policy, and one city policy, make good use of the policy toolbox, and fully give the autonomy of urban real estate regulation and control, and cities can adjust real estate policies according to local conditions.
According to incomplete statistics, at least 50 cities have optimized and adjusted their real estate policies since the beginning of this year. The content involves the relaxation of purchase restrictions, loan restrictions and housing provident funds, adjustment of mortgage interest rates, tax exemptions, and the issuance of deed tax subsidies and housing purchase subsidies.
The adjustment of housing purchase policies in key cities has been accelerated.
It is worth noting that some key cities, including first-tier cities, have recently adjusted their existing housing purchase policies. With the addition of these cities, a more positive signal has been sent to the real estate market.
On January 30, the Shanghai Municipal Commission of Housing and Urban-Rural Development and the Shanghai Municipal Housing Management Bureau jointly issued a notice to optimize the housing purchase restriction policy. The notice stipulates that from January 31, non-residents who have paid social insurance or individual income tax in Shanghai for five consecutive years or more can purchase one house in areas outside the outer ring (except Chongming District).
Previously, some areas of Shanghai have implemented the housing purchase policy for talents, and the restrictions on housing purchase for single people who are not registered in Shanghai have been lifted. Judging from the content of this policy adjustment, the purchase restriction for non-Shanghai household registration singles has been cancelled, and the scope of the purchase restriction area has been optimized. The two departments of Shanghai said that this move is also to better meet the reasonable housing needs of residents, promote the balance of regional jobs and housing, and the integration of industry and city.
Yan Yuejin, research director of the E-House Research Institute, believes that the new policy is based on the new situation and new requirements of the real estate market, optimizes the overly strict policy during the overheating period, and supports the housing needs of non-registered singles who are stably employed in Shanghai. In addition, from the perspective of the optimized purchase restriction area, the area outside the outer ring accounts for about 60% of the city's largest volume and transaction volume, and the purchase space is sufficient, which can better meet the home purchase needs of relevant groups for the first home or just need housing.
Guan Rongxue, a senior analyst at Zhuge Data Research Center, said that this move is also a positive response to the reasonable demands of the current market, and the single occupational group in Shanghai is large, and the release of purchase restrictions may promote the release of a large number of housing demand, which is not only conducive to improving the activity of the property market, but also has a positive effect on improving the adsorption capacity of Shanghai's population and stabilizing the development of the industry. In addition, the relaxation of purchase restrictions is a supplement to the optimization of talent purchase restrictions in Qingpu and Fengxian New Town a few days ago, which reflects the gradual and "small steps" relaxation rhythm of Shanghai's current policy adjustment.
In fact, before Shanghai, Guangzhou, which is also a first-tier city, took the lead in optimizing the purchase restriction policy on January 27. The purchase restriction on housing of more than 120 square meters has been cancelled, and "rent-one-buy-one" and "sell-one-buy-one" have been supported in the restricted purchase area, and the transfer objects are no longer restricted for commercial service properties that have been confirmed and registered for 2 years.
Suzhou has also adjusted its purchase restriction policy. On January 30, Suzhou announced the full lifting of the purchase restriction policy, and the purchase of new and second-hand houses will not be subject to the qualification review. In recent years, Suzhou has also continuously optimized its housing purchase policy. A series of "combination punches" have been made in terms of relaxing purchase restrictions, subscribing to houses without loans, reducing the proportion of down payments, trade-in, deed tax subsidies and housing ticket policies.
Chongqing, a municipality directly under the central government, also issued a policy on January 24 to adjust the property tax, implement housing purchase subsidies, support for buying new and selling old, and optimize the criteria for determining the number of housing units for families with many children. At the same time, the housing provident fund and financial support have been further increased.
More cities may follow in the future.
The recent adjustment and optimization of policies in these key cities is also a continuation of the policy easing trend since 2023.
In Yan Yuejin's view, 2024 is an important year for the comprehensive relaxation of purchase restrictions, which will be different from the partial relaxation logic in 2023, and is expected to provide a good environment for the activity of the real estate market this year.
Zhang Bo, branch director of 58 Anju Real Estate Research Institute, said that the policies in 2023 will mostly focus on rigid demand, and the current policy liberalization of improved housing will be further strengthened. In addition to replacement, the improvement of the second and above self-occupied units is also the object of the next policy focus.
Guan Rongxue believes that since the beginning of the year, key cities have successively relaxed the purchase restriction policy, reflecting that the relaxation of restrictions in 2024 has risen to a new height, and the relaxation of purchase restrictions in key first- and second-tier cities has made initial breakthroughs, and it is expected that key cities may follow up next. In addition, from the perspective of key cities such as Shanghai, Guangzhou, and Jiangsu to all parts of the country, lowering the threshold for purchase restrictions and canceling purchase restrictions is one of the key trends of the current property market regulation and control policies.
On the whole, 2024 will still be a "big year" for policies, but the force of policies is not only in frequency, but may be more significant in terms of intensity, and the policy content will be more inclined to improve demand. With the continuous release of policy effects in the future, the purchasing power of the market may be released after the Spring Festival.
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Article**: China Real Estate Network