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Hainan, as the province with the strictest real estate market regulation, has gradually loosened its policies in cities and counties after six years of implementing purchase restrictions across the region. Wuzhishan City, which has the strictest purchase restrictions, recently introduced a new policy that allows non-Hainan households who have paid social security or personal income tax for one year or have actually lived in Hainan for 183 days to enjoy the same treatment as local residents when purchasing a house in Wuzhishan City. Previously, the city's housing purchase policy was adjusted from only allowing local residents to purchase to allowing Hainan households to purchase.

Baoting County, Baisha County, and Qiongzhong County, which have the same restrictions as Wuzhishan City, have also relaxed their restrictions to varying degrees. Haikou and Qionghai City, which have the second-strictest restrictions, have also loosened their restrictions. Currently, Sanya is the only city in Hainan Province that has not made any adjustments to its restrictions, and the main urban area retains the five-year social security limit for non-locals.

Hainan's four most stringent central ecological core areas have all relaxed purchase restrictions

In April 2018, Hainan Province issued the most stringent property purchase restriction order in the country, implementing purchase restrictions across the region. According to the severity of the purchase restriction, Hainan's counties and cities are divided into three levels. The most stringent are the four central ecological core cities and counties of Wuzhishan, Baoting, Qiongzhong, and Baisha. The houses built can only be sold to residents of the city and county.

Secondly, in areas such as Haikou, Sanya and Qionghai where purchase restrictions have been implemented, families with non-local household registration who wish to purchase a home must provide proof that at least one family member has paid personal income tax or social insurance in Hainan for a total of 60 months or more.

In addition to the above-mentioned areas, non-Hainan resident families purchasing housing in other areas of Hainan Province must provide proof of personal income tax or social insurance payments made by at least one family member in Hainan Province for a total of 24 months or more.

Now, six years have passed. With the basic lifting of purchase restriction policies in all regions of the country except first-tier cities, Hainan's purchase restriction policies have also been gradually relaxed.

Let’s start with the four most stringent cities and counties in the central ecological core area. Recently, the Wuzhishan Municipal Housing and Urban-Rural Development Bureau issued the “Notice on Optimizing and Adjusting the Real Estate Control Policy” (hereinafter referred to as the “Notice”). Families with non-local household registration can enjoy the same treatment as local residents when purchasing a house in Wuzhishan City if they provide a personal income tax payment certificate or social insurance payment certificate for a family member who has reported for a total of 12 months or more in Hainan Province, or have actually lived in Hainan Province for 183 days or more.

This means that Wuzhishan City’s housing purchase policy is not limited to local residents, but also allows families without a local household registration to purchase as long as they meet certain conditions.

A real estate consultant at a property project in Wuzhishan City told reporters that at the beginning of this year, Wuzhishan lifted the purchase restrictions on families with local household registration in the province.

Now, Wuzhishan City has loosened its purchase restriction policy again. This new policy not only relaxes the purchase threshold for non-local households, but also provides a more relaxed purchase environment for talent purchases and families changing houses.

For example, the "Notice" points out that it supports the "old for new" policy for non-local resident families. For non-local resident families who have purchased commercial housing in Wuzhishan City but do not meet the current housing purchase conditions, they can purchase a new commercial housing in Wuzhishan City after selling the purchased commercial housing.

At the same time, we support all kinds of talents to buy houses. Among them, all kinds of talents who are not registered in this province and serve in Wuzhishan City, who have obtained full-time college degree or above (including graduates from foreign universities), or have intermediate or above professional titles, technician or above professional qualifications, practicing physician qualifications, or have the qualifications for intermediate professional and technical positions that the state and the province have clearly stipulated, and who have signed labor contracts (or labor service contracts) with enterprises and institutions registered in Wuzhishan City and have served for 3 months or more, can enjoy the same housing purchase treatment as local residents.

In addition, Wuzhishan’s new policy also unveiled a “big move”, allowing college students to buy houses with their student ID cards.

In the opinion of industry insiders, the threshold for talent to buy houses in Wuzhishan City is already quite relaxed. Signing a contract and serving for three months is almost like having no threshold.

In addition to Wuzhishan City, Baoting Li and Miao Autonomous County also relaxed its purchase restriction policy in July. Hainan residents can purchase housing in Baoting (including new and second-hand houses); non-Hainan residents can purchase one house in Baoting if they provide proof that one family member has paid personal income tax or social insurance for 24 months or more in Hainan Province, or has actually lived in Hainan Province for 183 days in the previous year.

It can be seen that in the second round of "relaxation" this year, the policy ideas of Wuzhishan City and Baoting County are exactly the same.

In the first round of relaxation at the beginning of this year, the regulatory direction of Baoting County, Baisha County, and Qiongzhong County was: no longer limited to local resident households, the new regulations allow all Hainan resident households to purchase one house; for buyers from non-local households, they must provide proof of personal income tax or social insurance payment for at least one family member in the county for a total of 24 months or more.

Haikou relaxes restrictions on some areas, and Qionghai residents’ housing purchase period changes from 5 to 2

Looking at Haikou, Sanya and Qionghai in Hainan Province, where purchase restrictions are relatively strict, except for Sanya, the restrictions in Haikou and Qionghai have been relaxed, especially in Qionghai, where the number of years for social security or personal income tax for non-locals has been reduced from 5 to 2.

In January this year, Haikou adjusted its sales and purchase restrictions, reducing the sales restrictions from 5 years to 2 years. In terms of purchase restrictions, the previous city-wide purchase restrictions were adjusted to regional purchase restrictions. People with non-provincial household registration who have accumulated 5 years of social insurance or personal tax can buy one house in the restricted area, and those with accumulated 2 years of social insurance or personal tax can buy one house in the non-restricted area. At the same time, the restriction on the number of houses purchased within 3 years of divorce was cancelled, and support policies were added to allow families with multiple children to purchase an additional house.

Founder Securities believes that as the capital city of the province with the strictest real estate market regulation, the relaxation of policies in Haikou has an important signal significance and demonstrates the government's determination to stabilize the real estate market.

Compared with Haikou, Qionghai City has made a larger adjustment. In June this year, the relevant departments of Qionghai City issued the "Notice on Further Optimizing Policies and Measures to Promote the Stable and Healthy Development of the Real Estate Market", and the social security or personal tax for families from other provinces who buy houses was adjusted from 5 years to 2 years. Specifically, for non-local resident families who have no housing or only one house in Hainan, they can purchase one house if they provide a family member who has paid personal income tax or social insurance payment certificate for 24 months or more in Hainan, or has actually lived in the city for 183 days in the previous year. Non-local resident families whose household registration has been moved to the province enjoy the same treatment as local residents in purchasing houses.

However, for the hot city of Sanya, the current purchase restriction policy has not been relaxed.

In fact, in addition to the loosening of purchase restrictions in the most stringent and second-strictest areas such as Wuzhishan, Baoting, Qiongzhong, Baisha, Haikou, and Qionghai, the third-tier cities in Hainan Province's purchase restriction policy have also been greatly relaxed. For example, Danzhou City issued the "Notice on Further Adjustment of Real Estate Policy Measures" on June 24 this year, and those who have settled in Hainan Province will enjoy the same treatment as local Hainan residents when purchasing a house in Danzhou City from the date of settlement; those who are not registered in Hainan Province but have actually lived in Hainan Province for 183 days will enjoy the same treatment as local Hainan residents when purchasing a house in Danzhou City.

In terms of housing purchases for employees of enterprises and institutions, non-Hainan residents who are employed or work part-time in key enterprises and institutions in Danzhou City and have signed a labor contract (or service contract) of 3 months or more with the employer can enjoy the same housing purchase treatment as local Hainan residents. In terms of housing purchases for talents, those who have obtained a full-time college degree or above (including graduates from foreign universities) and have signed a labor contract (or service contract) of 3 months or more can enjoy the same housing purchase treatment as local Hainan residents.

In the view of Yan Yuejin, research director of the E-House Research Institute, although Danzhou City has not explicitly canceled the purchase restrictions, it is actually very close to a complete cancellation.

Will Sanya’s purchase restriction policy be relaxed?

At present, Sanya City’s housing purchase policy has not been relaxed.

A real estate agent in Sanya told reporters that currently the main urban area of ​​Sanya still requires five years of accumulated social security or personal income tax, which is still very strict, but the trend may be relaxed in the future. However, Sanya's housing purchase policy for talents is relatively loose.

It is understood that in October 2019, Sanya relaxed the threshold for talents to buy houses. Talents with full-time college degree or above can purchase a property in Hainan Province if they have worked in Sanya for one year and paid social security and personal income tax for one year.

Will Sanya's purchase restriction policy be relaxed? There are different opinions in the industry.

An industry insider said that according to the loosening trend across the country and in cities and counties in Hainan, there is a high possibility that Sanya will undergo major adjustments.

However, Li Yujia, chief researcher of Guangdong Housing Policy Research Center, believes that it is unlikely that Sanya will withdraw from the purchase restriction. In the round of relaxation in 2014, apart from Beijing, Shanghai, Guangzhou and Shenzhen, Sanya was the only one that did not withdraw from the purchase restriction. Because there is only one Sanya in China, and the climate environment of Sanya determines that there are many immigrants. If we want to protect its ecological environment and unique climate resources, it is impossible to relax the purchase restriction and encourage housing speculation.

Judging from the current situation of the real estate market in Sanya, there seems to be room for the introduction of policies.

According to the "Changes in the Sales Prices of Commercial Residential Buildings in 70 Large and Medium-sized Cities in June 2024" released by the National Bureau of Statistics, among the four cities with a month-on-month increase in new commercial residential buildings, Sanya was one of them, with an increase of 0.1%. From January to June, there were six cities with a year-on-year increase in the average price of new commercial residential buildings, with Sanya's increase of 0.7%, ranking fourth.

Beijing News reporter Duan Wenping

Edited by Yang Juanjuan, Proofread by Chen Diyan