2024-08-06
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Editor of Every Economic Report: Zhang Jinhe
On August 6, the Guangzhou Huadu District Housing and Urban-Rural Development Bureau issued the "Notice on Several Measures to Further Promote the Stable and Healthy Development of the Real Estate Market" (hereinafter referred to as the "Notice"). This notice has attracted widespread attention, and it mentioned the "quasi-hukou" treatment for buying a house.
According to Securities China, Chen Xueqiang, research director of the South China Branch of China Index Academy, believes that the policy of Guangzhou Huadu District to enjoy "quasi-hukou" treatment for home purchases isIt took the lead in firing the first shot of "buying a house and settling down" in first-tier cities, and also embodied the concept of formulating policies based on the specific regions.
According to statistics from China Index Academy, more than 10 cities have introduced policies to allow people to settle down by purchasing a house or apply for settlement this year, such as Wuhan, Hangzhou, Suzhou, Shenyang, etc. Among them, Hangzhou currently adopts a points system for settlement, and settlement can be obtained by scoring 100 points. After the policy adjustment this year, the points for purchasing a house have been increased from 30 points to 80 points, greatly increasing the weight of points for purchasing a house.
The specific measures of the new real estate policy announced by Huadu District are as follows:
1. Buy a house and enjoy the "quasi-hukou" treatment in Huadu
Non-local residents who purchase newly built commercial housing within the administrative area of Huadu District can obtain the Huadu Talent Green Card and enjoy the district’s policy-based preferential admission benefits with the Huadu Talent Green Card and the housing purchase contract.During the preschool education stage, the children of the cardholder who meet the age requirements are eligible to register for computer-based allocation of kindergartens run by the education department in the district where they live, in accordance with the relevant regulations of the education department on preschool education. During the compulsory education stage, the education department will make overall arrangements and they are eligible to enter the starting grade of compulsory education in public schools (including places purchased by the government in private schools).
2. Vigorously promote "housing voucher" resettlement
When implementing demolition compensation within the administrative area of Huadu District, housing voucher compensation will be added for the demolishers to choose. In addition to the basic compensation amount and housing acquisition reward, the face value of the housing voucher will also include an additional policy reward amount (for specific reward amounts and operating details, please refer to the district housing voucher resettlement implementation rules). Housing voucher holders or their immediate family members can purchase commercial housing at a specific time, location and scope, and encourage and support reputable and strong state-owned enterprises and other companies to provide high-quality commercial housing.
3. Promote the implementation of worry-free purchase of old for new
We will continue to promote the implementation of the "Renew Purchase" activity for trading in old commercial housing for new ones, encourage "trading small for large", "trading old for new", and "trading low-end for high-end" commercial housing, and promote "worry-free deposit refund" through the "Renew Purchase" activity, and fully refund the deposit for eligible buyers who return the house within a certain period of time. If you participate in the old-for-new activity in the form of "housing tickets", real estate companies are encouraged to provide additional preferential subsidies.
4. Open up green channels for online signing and certificate application
Implement online signing with mortgage for newly built commercial housing. For real estate projects that cannot obtain certificates due to problems such as unpaid taxes and fees by real estate developers and mortgaged houses, we will implement policies in a classified manner and focus on tackling key issues, and open up a "green channel" for buyers to apply for real estate ownership certificates in a timely manner.
5. Encourage the sale of existing homes and ensure price assurance
Encourage qualified real estate developers to sell existing homes to eliminate worries of homebuyers. Support real estate developers to take "price guarantee" measures for newly built commercial housing. After buyers purchase new homes, if the property price drops within a certain period of time, real estate developers can provide price difference compensation, home improvement subsidies and other benefits.
6. Make every effort to ensure the safety of residents’ home purchases
Implement the urban real estate financing coordination mechanism, promote qualified real estate projects to enter the financing "white list", and support the financing needs of real estate companies. Prevent risks in real estate projects, strictly implement the pre-sale fund supervision system, and ensure that the supervision funds are used to ensure the completion and delivery of the project on schedule.
It is worth noting that Guangzhou’s real estate policies have been adjusted before.
On May 28, Guangzhou issued the "Notice on Further Promoting the Stable and Healthy Development of the Real Estate Market in Our City", adjusting the property market policy. The key points are as follows:
1. For households taking out loans to purchase their first commercial housing,The minimum down payment ratio for commercial personal housing loans is adjusted to no less than 15%, and the interest rate floor is abolished；
2. For households taking out loans to purchase a second commercial housing unit, the minimum down payment ratio for commercial individual housing loans will be adjusted to no less than 25%, and the interest rate floor will be removed;
3. Those who purchase housing in central urban areas such as Yuexiu, Haizhu, Liwan, Tianhe, Baiyun (excluding Jianggao Town, Taihe Town, Renhe Town, Zhongluotan Town), and Nansha,Families with non-local household registration can enjoy the housing purchase treatment for registered resident families if they can provide proof of continuous payment of individual income tax or social insurance in the city for the six months prior to the date of purchase of the house.
4. When a home buyer applies for a housing provident fund loan, the payment period is adjusted to 6 months (inclusive) or more of continuous and full payment of housing provident funds. It is allowed to withdraw housing provident funds to pay for the down payment of the first newly built commercial housing;
5. Support and encourage real estate associations, real estate companies and intermediary agencies to build platforms to implement various forms of "old for new" commodity housing, such as agency sales and old house exchange, to promote the establishment of new transaction models.Encourage large-scale leasing institutions to purchase existing commercial housing。
Since the beginning of this year, Guangzhou's real estate transaction data has declined.
According to monitoring data from the China Index Academy, as of the end of July 2024, the inventory of newly built commercial housing in Huadu District reached 1.492 million square meters, ranking third in the city, and the sales cycle reached 24.2 months.
According to data from the China Index Academy, the first-hand residential transaction volume in Huadu District in the first half of 2024 was 2,937 units, ranking fourth among the 11 districts in Guangzhou. According to a report from the Hefu Research Institute, the sales rate of major real estate projects in Huadu District in the first half of this year was only about 10%.
According to CRIC's monitoring data, the transaction area of newly built commercial residential buildings in Guangzhou in July 2024 was 650,000 square meters, a decrease of 22% from the previous month and an increase of 24% from the previous year; a slight increase of 1% compared with the average monthly transaction volume in the second quarter of this year.In the first seven months of this year, the transaction area of new homes in Guangzhou was 3.85 million square meters, a year-on-year decrease of 24%.
In terms of sales rate, CRIC data showed that the sales rate of new homes in Guangzhou in July this year was only 10%, which was the same as that in June; Guangzhou was the city with the lowest new home sales rate in July among the four first-tier cities.
Daily Economic News is compiled from the official website of Guangzhou Huadu District Housing and Urban-Rural Development Bureau, Guangzhou Municipal Government official website, China Securities Journal, and public information
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