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Recently, there have been several changes in real estate policies that cannot be ignored. Although continued easing is still the mainstream direction, the details of the policies vary slightly from city to city.

On the one hand, the city-specific policies are continuously being implemented, and the freedom of regulation in various cities has increased. Take Chengdu as an example. After joining the trend of district-based loan recognition, it launched a new policy that allows financial institutions to determine the down payment ratio and interest rate for eligible homebuyers when purchasing a house; on the other hand, some cities have begun to try to update existing policies. Wuxi recently launched a new "old for new" policy for commercial housing, allowing cross-city house exchanges and allowing high-quality shops to join. The scope of implementation of some original policies is also expanding. The policy of purchasing existing houses for affordable housing has already entered the two first-tier cities of Guangzhou and Shenzhen.

At present, real estate policies are showing a trend of going global and being updated.

Continue to expand housing space

Real estate policies are still evolving in a more relaxed direction.

So far, only four first-tier cities, Tianjin and parts of Hainan Province have implemented relatively strict purchase restrictions, and the subsequent relaxation may be mainly gradual. The reporter of "Huaxia Times" noticed that after most cities optimized their purchase restrictions, their policy focus has shifted to optimizing the identification standards for first-time home buyers.

On August 12, Chengdu issued a document stating that for new home purchases within Chengdu, only the housing situation of the buyer in the district (city) or county where the intended home is located will be verified. If the buyer does not own a home in the above-mentioned area, the home can be recognized as the first home. The new rule will be implemented from August 13 this year.

The core point of Chengdu's new real estate policy is to relax the qualification of first-time home buyers, so that more potential home buyers can meet the conditions for buying a home, enter the market and release their purchasing power. Statistics released by China Index Academy show that, as of now, more than 20 cities across the country have identified the number of housing units by district, narrowing the scope of loan recognition to the district where the home is purchased.

"In some cities, there is still a large gap between the down payment ratio and mortgage interest rates for the first and second homes. In most cities, the down payment ratio for the first home is 15%, and the down payment ratio for the second home is 25%. In terms of mortgage interest rates, the first home loan interest rate in most cities is around 3%, while the second home loan interest rate is still higher than 3.5%." Chen Wenjing, director of market research at China Index Academy, told a reporter from the China Times.

Chen Wenjing believes that optimizing housing loan policies by district will significantly reduce the threshold and cost of purchasing multiple homes in different districts, and will help to release demand for improvement. Yan Yuejin, deputy director of Shanghai E-House Real Estate Research Institute, believes that Chengdu's optimization of housing loan policies also shows that local governments will continue to relax housing purchase policies in the second half of the year, which will also be an important inspiration for other cities to introduce housing purchase policies in the future.

More innovation opens up new ideas

As we all know, accelerating the transformation of the real estate industry and exploring new models have been proposed for some time. During this period, multiple departments have launched a policy combination, including giving full play to the urban real estate financing coordination mechanism, setting up 300 billion yuan of affordable housing re-loans, and canceling the lower limit of commercial personal housing loan interest rates, etc., giving city governments and financial institutions as much autonomy as possible, trying to reduce supply, increase demand, improve housing quality, and reduce housing purchase costs, and ultimately help stabilize the real estate industry in many ways.

After the policy toolbox was continuously opened, many cities began to innovate their policies. Taking Chengdu's new policy as an example, Chengdu pointed out that for those who own two or more houses in Chengdu and have paid off the corresponding housing loans, financial institutions are supported to determine the down payment ratio and interest rate on their own.

At the same time, Chengdu has also updated the "insurance" policy. In order to obtain the qualification to purchase a house and include it in the affordable rental housing database, if it has not been rented out or the lease contract has been terminated, you can voluntarily apply to withdraw from the affordable rental housing database early and lift the listing and trading time limit.

Previously, many cities including Chengdu issued documents stating that if home buyers already own multiple properties, they can include the houses they own into the rental housing system in order to obtain first-home qualifications and enjoy a lower down payment ratio and higher interest rate discounts.

Undoubtedly, such updates will give home buyers, financial institutions and real estate developers greater freedom, and market circulation will be smoother.

Recently, the "old for new" commercial housing program has been going on in various places. The highly praised "Jiangsu Model" has made another brilliant move. Wuxi announced its first trial of cross-city housing "old for new". It is reported that newly registered owners, as long as they own properties in Wuxi, Suzhou, Changzhou and other cities, can participate in the "old for new" program and exchange for commercial housing in the holding real estate projects of Wuxi Liangxi Urban Development Group. In addition, Wuxi's commercial housing "old for new" program has also added the acquisition of high-quality apartments and high-quality shops throughout Wuxi, and supports the replacement method of multiple for one.

"Wuxi's new policy will help talents and young people to flow in Suzhou, Wuxi, Changzhou and other regions. This is also an important manifestation of the 'housing follows people' policy. Similar cross-city property exchange models are very valuable. Urban agglomerations, metropolitan areas and other regions can take the lead in implementing cross-city 'old for new' work and systematically consider the 'selling second-hand houses for new houses' work in metropolitan areas." Yan Yuejin analyzed.

Purchase instead of construction gradually covers first-tier cities

The policy updates in first-tier cities are also accelerating. After the four first-tier cities successively issued documents to start the "old for new" policy for commercial housing, Guangzhou and Shenzhen pressed the button of "buying instead of building". As early as the end of May this year, Zengcheng, Guangzhou, issued a document stating that it would publicly solicit applications for commercial resettlement housing sources that meet the conditions for the Guangzhou (Xintang) to Shanwei Railway Project (Xintang Section), solicit qualified residential housing sources from the society, and then select resettlement housing sources according to relevant procedures.

On August 7, Shenzhen officials stated that in order to actively build a "security + market" housing supply system and follow the principles of "marketization, rule of law" and mutual voluntariness, companies affiliated to Shenzhen Anju Group Co., Ltd. plan to purchase commercial housing for use as affordable housing and solicit commercial housing for use as affordable housing projects in Shenzhen.

The industry believes that Guangzhou and Shenzhen have started official stockpiling, and Beijing and Shanghai are expected to follow suit. Data monitored by China Index Academy shows that more than ten cities have issued notices to collect commercial housing for use as affordable housing, and have clarified the scope, conditions and prices of the collection.

Sun Hongmei, senior analyst at the South China Branch of China Index Academy, believes that the current policy direction of "boosting demand + destocking" has been made clear, and the move by Shenzhen officials to purchase and store will play a positive role in destocking and stabilizing the Shenzhen property market. It will help ease the financial pressure on real estate companies, restore market sentiment, and increase the supply of affordable housing.

At the same time, Guangzhou has begun to solicit public opinions on the management methods of allocated affordable housing, and it is expected that the first batch of houses will be launched in the second half of the year. It can be seen that the construction and market entry of affordable housing are accelerating. According to data released by the Ministry of Housing and Urban-Rural Development, the country plans to build and raise 1.704 million sets of affordable housing this year. As of the end of June, the country has built and raised 1.128 million sets of affordable housing, accounting for 66.2% of the annual plan, and completed an investment of 118.3 billion yuan.

In addition to the continued efforts of the policy on the market, the attention paid to real estate companies has not decreased. On August 12, the Guangdong Provincial Department of Housing and Urban-Rural Development held a meeting, pointing out that it is necessary to resolutely fight and win the battle to ensure the delivery of houses, do a good job in ensuring the delivery of houses, promote the urban real estate financing coordination mechanism to achieve greater results, and urge real estate companies to raise funds for self-rescue through asset disposal and other means, and resolutely put an end to the "lying flat and rotten" real estate companies.

The real estate financing coordination mechanism that was highly anticipated by the industry is also accelerating its implementation, solving urgent problems for real estate companies. Taking Henan as an example, as of August 8, there were 610 projects in Henan that were included in the "white list", of which 499 projects received a total of 102.093 billion yuan in bank credit, and 359 projects received 35.4 billion yuan in funding.

Editor-in-charge: Xu Yunqian Editor-in-chief: Gong Peijia