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in july this year, after the third plenary session of the 20th cpc central committee pointed out that it would cancel the standards for ordinary and non-ordinary residential buildings, some regions have issued documents in response. in the view of the industry, the cancellation of the standard for ordinary residential buildings has been included in the policy toolbox, and it is expected that various regions will launch it at the appropriate time.

many places responded to the "cancellation of the standards for ordinary residential and non-ordinary residential buildings"

recently, beijing, a first-tier city, proposed to "cancel the standards for ordinary residential and non-ordinary residential housing at the appropriate time."

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 reform and promoting chinese-style modernization". among them, the statement of "optimizing real estate policies and canceling the standards for ordinary residential and non-ordinary residential properties at an appropriate time" has attracted much attention.

chen wenjing, director of policy research at china index academy, believes that as beijing points out that it will "cancel the standards for ordinary residential and non-ordinary residential properties at the appropriate time," it means that the cancellation of the ordinary housing standards has been included in the policy toolbox and will be implemented at the appropriate time.

in the industry’s view,the timely cancellation of the standards for ordinary residential and non-ordinary residential housing will help reduce the cost of purchasing houses for residents and will also be an important support for the demand for improved housing.

especially in second-hand housing transactions, ordinary residential properties are directly linked to tax incentives. guan rongxue, senior analyst at linping residential big data research institute, pointed out that the mainvataccording to beijing's current policy, the difference between ordinary houses and non-ordinary houses is that individuals who sell ordinary houses that have been in use for more than two years are exempt from value-added tax; individuals who sell non-ordinary houses that have been in use for more than two years are subject to value-added tax on the difference.

take a non-ordinary residential property with a total price of 5 million yuan (assuming the original value is 4.5 million yuan) as an example. according to current policy regulations, the difference of 500,000 yuan will require a vat fee of 23,800 yuan for more than two years. if the standard for ordinary and non-ordinary houses is cancelled, this part of the cost will be saved during the transaction process.

this time, beijing proposed to "cancel the standards for ordinary residential and non-ordinary residential housing at an appropriate time", which is also a response to the "decision" of the third plenary session of the 20th central committee.

the decision of the cpc central committee on further deepening reform and promoting china's modernization mentioned that it supports the diversified housing needs of urban and rural residents. it fully empowers city governments to regulate the real estate market, formulates policies based on the city, and allows relevant cities to cancel or reduce housing purchase restrictions and cancel the standards for ordinary and non-ordinary residences. it reforms the financing methods of real estate development and the pre-sale system of commodity housing. it also improves the real estate tax system.

after the above decision was announced, some regions issued documents in response to the "cancellation of the standards for ordinary residential and non-ordinary residential buildings."

on september 15, the shanxi provincial department of housing and urban-rural development and other seven departments issued the "several measures for further promoting the stable and healthy development of the real estate market in shanxi province", which mentioned the cancellation of the standards for ordinary residential and non-ordinary residential properties. municipal governments can adopt policies based on their cities and cancel the standards for ordinary residential and non-ordinary residential properties to better support the release of improved housing demand.

on september 10, jiangsu issued the "several policy measures on consolidating and enhancing the economic recovery and positive trends and further promoting high-quality development", which proposed to cancel the standards for ordinary residential and non-ordinary residential buildings in accordance with relevant national arrangements in terms of building a new real estate development model.

the expectation of local regulation is increasing, which is expected to become one of the important directions of policy adjustment.

this time, with beijing proposing to "cancel the standards for ordinary residential and non-ordinary residential housing at the appropriate time", the market's expectations for the aforementioned policy adjustments have once again increased.

it can be seen that the last round of optimization of ordinary residential housing standards in first-tier cities including beijing was concentrated in the fourth quarter of 2023.

among them, shenzhen was the first to announce the adjustment policy. the notice issued by the shenzhen housing and construction bureau on adjusting the recognition standards for ordinary housing enjoying preferential policies shows that from november 23, 2023, the standard for ordinary housing in shenzhen enjoying preferential policies will be adjusted to: the building volume ratio of residential communities is 1.0 or more (including 1.0), and the building area of ​​a single housing unit is 120 square meters or less (including 120 square meters) or the building area of ​​a single housing unit is 144 square meters or less (including 144 square meters).

subsequently, shanghai and beijing also released real estate policies on the same day, clearly optimizing the identification standards for ordinary housing. guangzhou did not follow suit to adjust the standards for ordinary housing.

map: the paper

industry insiders pointed out that currently cities implement mortgage and tax policies based on the standards of ordinary housing and non-ordinary housing. although some cities have adjusted the standards of ordinary housing, it is still not entirely reasonable. many buyers are "forced to buy luxury houses" and cannot enjoy the tax and mortgage benefits of ordinary housing. in the future, by canceling the division of ordinary housing and non-ordinary housing standards, it is expected to provide residents with more favorable tax, mortgage and other relaxed policies for home purchases, and meet the residents' dream of a better home.

guan rongxue said that from a national perspective, loose regulatory measures are an important driver of current national real estate policies. the change of canceling the standards for ordinary residential and non-ordinary residential properties will reduce the tax burden on more housing transactions, thereby reducing the economic pressure on home buyers and stimulating potential market demand. therefore, at present, the impact of canceling the standards for ordinary residential and non-ordinary residential properties on the real estate market is positive, and it may become one of the important directions for the next real estate policy adjustment.

huatai securities research report mentioned that over the years, "930" has been an important window for real estate policies, and the marginal pressure on the economic and real estate environment since the third quarter of 2024 has increased the market's expectations for incremental policies. the real estate industry has a more leading impact on the relevant industrial chain, and the current low valuation of real estate stocks has promoted the willingness of funds to gamble on real estate stocks. the agency expects that the cancellation of the general housing standard is a general trend, which is expected to accelerate the stabilization of real estate fundamentals.