Ministry of Housing and Urban-Rural Development: 3.96 million houses will be delivered before the end of the year and the disposal model will be promoted nationwide
2024-08-24
한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina
The "one project, one plan, one special team, one bank, one auditor, one judge" disposal model for guaranteed housing will be promoted nationwide
Yangcheng Evening News Omnimedia Reporter Fan Hanyue
On August 23, the State Council Information Office held a series of press conferences on the theme of "Promoting High-quality Development". The head of the Ministry of Housing and Urban-Rural Development responded to hot issues in the development of the real estate market. The press conference revealed that in order to win the battle to ensure the delivery of commercial housing projects, the Ministry of Housing and Urban-Rural Development, together with the State Administration of Financial Supervision, organized local governments to conduct a "big investigation" to comprehensively investigate commercial housing projects that have been sold but not delivered, and locked in 3.96 million housing units that should be delivered before the end of this year according to the contract agreement as the target task of the battle to ensure the delivery of housing.
How to understand the latest housing delivery target set by the Ministry of Housing and Urban-Rural Development? How does Guangdong promote the housing delivery work? In this regard, Yangcheng Evening News reporters conducted in-depth interviews.
How to fight the battle to secure housing delivery?
Regarding the battle to ensure housing delivery, Dong Jianguo, Vice Minister of the Ministry of Housing and Urban-Rural Development, introduced at the press conference that it is necessary to form a policy synergy, give full play to the role of the urban real estate financing coordination mechanism, classify and deal with each project with its own policy, and promote the timely and quality delivery of projects.
It mentioned that a three-level coordination mechanism should be established at the national, provincial and city levels to promote the "must-enter" white list of qualified projects, and commercial banks should implement due diligence exemption requirements and provide financing support for "must-lend" projects. At present, commercial banks have approved more than 5,300 "white list" projects in accordance with the approval procedures, with an approved loan amount of nearly 1.4 trillion yuan. These funds are being disbursed in accordance with the project progress, which has strongly supported the construction and delivery of the projects.
The Ministry of Housing and Urban-Rural Development will guide all localities to implement the "one project, one plan, one special team, one bank, one auditor, one judge" disposal model. This model will be first piloted in Zhengzhou and will be promoted nationwide. For qualified projects, they will be included in the "white list" to provide financing support to ensure project construction and delivery; for projects with liabilities exceeding assets, the bankruptcy reorganization or liquidation of project developers will be accelerated, and the legitimate rights and interests of home buyers will be given priority in accordance with the Supreme People's Court's regulations on the priority of debt repayment.
The Ministry of Housing and Urban-Rural Development has established a national information system for guaranteed housing delivery, and each delivery task corresponds to "one contract, one household, one ID number, and one contact number", so that work goals are implemented to each household and buyer, and one set is cancelled after it is delivered.
In addition, the Ministry of Natural Resources has also issued supporting documents on the issue of certificate issuance for guaranteed housing projects, striving to ensure that all real estate ownership certificates for guaranteed housing projects are issued.
How does Guangdong promote the work of guaranteed housing delivery?
Regarding the progress of Guangdong's housing delivery guarantee work, the reporter learned from the Guangdong Provincial Department of Housing and Urban-Rural Development that as of the end of July, Guangdong had 421 projects that had obtained bank credit with a credit line of 175.5 billion yuan, and 300 projects that had obtained bank loans with a financing amount of 85.6 billion yuan. Among them, the credit line for private and mixed-ownership real estate development projects accounted for 81% of the total, and the amount of bank loans accounted for 88.3% of the total.
In early August, the Guangdong Provincial Department of Housing and Urban-Rural Development also held a provincial meeting on the coordination mechanism for guaranteed housing and urban real estate financing in conjunction with multiple departments. The meeting required all localities to fully and accurately grasp the policy, make overall plans and integrate them, and promote more guaranteed housing projects to be included in the "white list"; implement the "1+N+X" work plan for guaranteed housing, consolidate the responsibilities of all parties, and implement the project disposal paths one by one according to the actual situation of the project, such as continued construction, delayed construction, suspended construction, and entering the judicial process; take the project as the center and distinguish between corporate risks and project risks; take the city as the main body, and work together to coordinate the "white list" work and solve the project financing problem.
What is the difference between a secured house and a secured building?
Li Yujia, chief researcher at the Housing Policy Research Center of the Guangdong Provincial Urban Planning Institute, said that the task target of 3.96 million guaranteed housing units determined by the Ministry of Housing and Urban-Rural Development through a "major investigation" is somewhat different from the previous concept of guaranteed housing.
Guaranteed delivery buildings refer to residential projects that have been sold, are overdue, or are difficult to deliver. They are mainly aimed at the 3.5 million housing units that were sorted out during the period of bankruptcy of some leading real estate companies in 2022 and the misappropriation of pre-sale funds, resulting in the inability to deliver. For each unit, a special loan of 100,000 yuan will be given, totaling 350 billion yuan, that is, projects that accept special loans to promote delivery. According to public reports, as of the end of 2023, more than 3 million of the 3.5 million guaranteed delivery projects have been delivered, with a delivery rate of more than 86%.
Guaranteed delivery of housing is more general and refers to delivery projects other than special loans, mainly projects that should be delivered normally since 2024 but are difficult to deliver. Guaranteed delivery of housing covers a wider range of content and has higher work requirements than guaranteed delivery of buildings. When guaranteed delivery of buildings has achieved a high delivery rate at the project level, guaranteed delivery of housing pays more attention to the full process and full function delivery at the housing level. From this perspective, the guaranteed delivery of housing policy will obviously help bridge the gap between the delivery rate and the house delivery rate, the house collection rate, and the occupancy rate, thereby promoting further recovery of home buying confidence and stabilizing the real estate market.
Moreover, the guaranteed delivery of houses is implemented more strictly in terms of financing coordination mechanism, local territorial responsibility, and the main responsibility of developers, with more emphasis on marketization and active actions of local governments, and thorough resolution and elimination of new delivery problems.
In terms of funding support methods, the financial support for the Baojiaolou work is mainly a special loan plan. Most of the 350 billion yuan of special loans for Baojiaolou mentioned earlier have been invested in specific projects, and the overall resumption rate of Baojiaolou special loan projects has reached 99.9%.
The funds for the housing delivery projects are mainly recovered through the urban real estate financing coordination mechanism, and the misappropriated budget funds are actively disposed of. In January this year, the Ministry of Housing and Urban-Rural Development and the financial sector proposed that city governments promote projects that meet the "white list" conditions to "enter as many projects as possible", and commercial banks should "lend as much as possible" to compliant "white list" projects to meet the reasonable financing needs of projects under construction.
