beijing has made it clear that the standard for general housing and non-general housing will be cancelled at an appropriate time. the demand for improved housing is expected to be further released.
2024-09-23
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beijing is continuously optimizing its real estate policies. on september 20, the beijing municipal committee of the communist party of china issued the implementation opinions on the "decision of the cpc central committee on further comprehensively deepening reforms and promoting chinese-style modernization", which mentioned that the standards for ordinary residential and non-ordinary residential properties will be abolished in due course. this also means that for some homebuyers with improvement needs, the tax burden on their future housing transactions will be directly reduced.
the reporter found that more than 20 provinces are still implementing different standards for identifying ordinary and non-ordinary residential properties based on their city-by-city policies. industry insiders generally believe that more cities are expected to follow this property market optimization measure.
signal
property market policies are expected to usher in a new round of adjustments
in july this year, the third plenary session of the 20th cpc central committee adopted the "decision of the cpc central committee on further deepening reform and promoting china's modernization", which clearly stated that the city governments should be given full autonomy in regulating the real estate market, and policies should be implemented according to the city. the relevant cities are allowed to cancel or reduce the housing purchase restriction policy and cancel the standards for ordinary and non-ordinary residential houses. this is also the specific implementation opinion issued by beijing to implement the requirements of the "decision".
according to the implementation opinions of the beijing municipal committee of the communist party of china on the "decision of the cpc central committee on further deepening reform and promoting chinese-style modernization", many real estate policies in beijing are expected to be further optimized. for example, the transaction rules for commercial residential land will be optimized, and the financing methods for real estate development and the pre-sale system of commercial housing will be reformed. among them, "canceling the standards for ordinary residential and non-ordinary residential buildings at an appropriate time" has attracted particular attention.
in december last year, beijing optimized the ordinary residential identification standards that had been used for many years since 2014. after the optimization, ordinary residential houses should meet three conditions: the residential community building volume ratio is 1.0 (inclusive) or above; the single unit building area is 144 square meters (inclusive) or less; the actual transaction price is lower than the determined price standard, among which the unit price within the fifth ring road is lower than 85,000 yuan/square meter, the unit price between the fifth and sixth ring roads is lower than 65,000 yuan/square meter, and the unit price outside the sixth ring road is lower than 45,000 yuan/square meter.
some institutions predict that after the implementation of this new standard, about 70% of commercial housing on the market can be identified as ordinary housing. this also means that after the standards for ordinary housing and non-ordinary housing are cancelled in the future, the remaining 30% of commercial housing will no longer be considered non-ordinary housing.
influence
adapting to new changes in housing needs
the reporter learned that in second-hand housing transactions, the identification standard of ordinary residential buildings is linked to tax incentives, the most important of which is value-added tax. according to regulations, individuals who sell ordinary residential buildings that have been in use for more than two years are exempt from value-added tax; individuals who sell non-ordinary residential buildings that have been in use for more than two years are subject to value-added tax on the difference, at a rate of 5%.
guan rongxue, senior analyst at linping residential big data research institute, said that once the identification standards for ordinary residential and non-ordinary residential properties are cancelled, the burden on some home buyers will be reduced. ordinary residential and non-ordinary residential properties will be subject to the same requirements in the process of tax payment, etc., which will help reduce the home purchase costs of buyers.
take mr. wang, a citizen, for example. he wants to replace his house with a larger one because he has three children. the house price is about 10 million yuan. if the house is identified as an ordinary house for two years, the value-added tax is 0 yuan; but if the house is identified as a non-ordinary house, the landlord bought it for 5 million yuan, and mr. wang has to pay an additional 250,000 yuan in value-added tax. in addition, he also needs to pay a higher proportion of deed tax. if he changes from a non-ordinary house to an ordinary house, mr. wang can save at least 250,000 yuan.
"the current housing demand has changed, and new homes have shifted to improvement demand." li yujia, chief researcher at the housing policy research center of the guangdong provincial urban planning institute, said that at the same time, residents are more sensitive to housing consumption costs. non-ordinary residential properties have higher loan interest rates and taxes than ordinary residential properties. the timely introduction of corresponding policies will help adapt to new changes in the supply and demand relationship in the real estate market and boost the property market.
nationwide
will boost the market
according to incomplete statistics from reporters, more than 20 provinces and municipalities across the country still implement different standards for identifying ordinary residences and non-ordinary residences.
also in december last year, shanghai adjusted the standard for identifying ordinary residential buildings, that is, ordinary residential buildings that can enjoy preferential policies must meet the following two conditions: multi-story buildings with more than five floors (including five floors), old-style apartments, new-style lanes, old-style lanes, etc. with less than five floors; the construction area of a single house is less than 144 square meters (including 144 square meters). shenzhen also adjusted the standard for identifying "ordinary houses" last year, that is, the building volume ratio of the community is more than 1.0 (including 1.0), the construction area of a single house is less than 120 square meters (including 120 square meters) or the construction area of a single house is less than 144 square meters (including 144 square meters).
it can be seen that the recognition standards of various cities are different according to their own situations. "beijing is the first first-tier city to clearly propose to cancel the standards for ordinary residential and non-ordinary residential properties after the third plenary session of the 20th cpc central committee. it is expected that other cities will follow suit." li yujia said.
"overall, the current national real estate market recovery is generally under pressure, and the market needs to continue to optimize and adjust policies." guan rongxue believes that beijing's leading implementation of the "decision" will have a certain boosting effect on market confidence. the specific market performance still needs to be observed.
