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Cailianshe News, August 19 (Reporter Li Jie)In order to promote property market stability, another hot second-tier city has relaxed restrictions on home purchases and settlement.

On the evening of August 19, Xiamen issued a notice on adjusting the real estate settlement policy. People who own legal real estate in the administrative area of ​​Xiamen and meet the corresponding conditions can apply to transfer their household registration to the address of the real estate. First, they have obtained the real estate ownership certificate and the real estate is registered as residential; second, the total property ownership share of the applicant and his/her spouse and minor children exceeds 50% (not included).

In addition, the applicant, his/her spouse, and minor children can apply to transfer their household registration to the address of the property. The above notice will be implemented from October 1, 2024 and will be valid for 5 years.

"Xiamen's policy this time can be simply summarized as one can settle down by purchasing a property. Compared with the previous requirements for housing type when settling down, the latest policy can be said to have made considerable relaxation." Yan Yuejin, deputy director of the E-House Research Institute, said.

"Relaxing and loosening restrictions on settling down will help break down barriers that hinder labor mobility and further expand housing demand among urban residents. As policies to optimize the real estate market in core cities are gradually implemented, it will promote a substantial increase in housing consumption from the demand side," said an analyst at Everbright Securities.

According to CRIC statistics, the transaction area of ​​commercial housing in Xiamen in July this year was 100,000 square meters, a month-on-month decrease of 47% and a year-on-year decrease of 6%. In total, the transaction area of ​​commercial housing in Xiamen from January to July this year was 710,000 square meters, a year-on-year decrease of 46%.

In fact, as the property market continues to decline, many cities have begun to promote household registration system reform and relax settlement restrictions, and this year this measure has spread to hot second-tier cities.

According to data from Centaline Property, since the beginning of this year, many core second-tier cities have introduced policies that allow people to apply for household registration by purchasing a house, including Suzhou, Hangzhou, Nanjing, Wuhan, Foshan, Hefei, Shenyang, etc. So far, more than 20 cities have introduced such policies.

Among them, the core second-tier city Hangzhou issued the "Notice on Optimizing and Adjusting the Real Estate Market Regulation Policy" on May 9. Hangzhou mentioned in this new real estate policy that "the points-based settlement policy will be optimized, and non-local residents who have obtained legal property rights in Hangzhou can apply for settlement."

Then on May 11, the Nanjing Municipal Public Security Bureau issued the "Notice on Matters Concerning Settlement with Legal and Stable Residence", announcing that the conditions for settlement would be further relaxed. Non-Nanjing residents who have legal and stable residence and actually live in Nanjing can directly apply for settlement.

On June 25, Suzhou issued a notice on the implementation of matters related to settling in legally-owned housing, clarifying that non-Suzhou residents who actually live in the administrative area of ​​Suzhou and meet one of the conditions of owning legally-owned housing in the city, purchasing newly-built commercial housing in the city and completing online signing and filing, can apply to transfer their household registration to the housing they own or purchase, and their spouse, unmarried children and parents can apply to transfer their household registration.

"This round of relaxation of restrictions on home purchases and settlement is mainly in second-tier cities. At this stage, major cities are competing for talent resources to further expand urban residents' demand for home purchases, thereby promoting the digestion of housing market inventory." Zhang Hongwei, founder of Jingjian Consulting, told reporters.

Analysts from the China Index Academy pointed out that competition among cities is ultimately a competition for population and talent. Only when population and talent are continuously introduced can the city's economic vitality be stronger and the city become more competitive. "Allowing people to buy houses and settle down, supporting talents to buy houses, and combining housing policies with population and talent policies will help promote the influx of population and talent, and will also promote the release of housing demand to a certain extent."

Yan Yuejin said that currently all parts of the country are implementing policies for settling in the city by purchasing a house. He suggested that all localities base themselves on the free flow of population and resource factors, and on the new rules of "people, real estate and money", and relax the household registration policies to the maximum extent possible, especially in first-tier cities, which can also have groundbreaking policy content.

Many analysts interviewed believe that except for a few megacities where restrictions on settlement will continue to exist in the future, it is expected that the household registration system in most cities will be relaxed. Relaxation of settlement is a trend and will become a major policy trend at the local level in the second half of this year.