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on the evening of the 29th, the people's bank of china, together with the state administration of financial supervision, issued four financial support policies for real estate. among them, the "notice on optimizing the minimum down payment ratio policy for personal housing loans" points out that in order to implement the decisions and arrangements of the party central committee and the state council, support the rigid and diversified housing needs of urban and rural residents, and promote the stable and healthy development of the real estate market, the personal housing loan is now the relevant matters regarding housing loan policies are notified as follows: for families who purchase houses with loans, commercial personal housing loans no longer distinguish between first and second houses, and the minimum down payment ratio is unified to no less than 15%.

a reporter from "daily economic news" specially invited yan yuejin, deputy director of shanghai yiju real estate research institute, to give an exclusive interpretation of the notice.

personal housing commercial loans no longer distinguish between first and second homes, and the minimum down payment ratio is not less than 15%.

the notice also pointed out that on the basis of the national unified minimum down payment ratio, all provincial branches of the people's bank of china and all dispatched offices of the state financial supervision and administration bureau shall independently determine the down payment ratio for each city under their jurisdiction in accordance with the principle of city-specific policy implementation and the regulatory requirements of the governments of each city under their jurisdiction. whether to set a differentiated minimum down payment ratio policy and determine the lower limit of the minimum down payment ratio in each city under the jurisdiction.

the reporter noticed that at the press conference of the state council information office on september 24, pan gongsheng, governor of the people's bank of china, announced that in order to better support the rigid and diversified housing needs of urban and rural residents, commercial personal housing loans at the national level will no longer be available. distinguishing between first and second homes, the minimum down payment ratio is uniformly 15%.

pan gongsheng said, "the real estate market conditions vary greatly between different cities and regions. local governments can adopt differentiated arrangements and determine the lower limit of the minimum down payment ratio within their jurisdiction based on the national bottom line. in addition, commercial banks will determine the minimum down payment ratio based on the customer's risk profile. and willingness to negotiate with the customer to determine the specific down payment ratio. because 15% is only a minimum down payment ratio, commercial banks may be higher than this level based on their assessment of the customer's risk. some customers say that i have money and can pay it. the 30% down payment ratio is a market-based negotiation between commercial banks and individuals.”

yan yuejin: housing prices will generally stabilize and slightly increase.

nbd: commercial personal housing loans no longer distinguish between first and second homes. what impact will it have on the real estate market?

yan yuejin:the central bank had already put forward relevant views at the press conference on september 24. no longer distinguishing between first and second homes is actually a support for the improvement demand for second homes. therefore, the transaction performance of some markets with large apartments and second suites will be relatively good. for the market, some large apartments will continue to heat up.

nbd: the minimum down payment ratio is unified to no less than 15%. what are the considerations for this setting?

yan yuejin:the very important core of setting this ratio is to allow each home buyer to enjoy the lowest and most preferential down payment ratio. therefore, 15% is the lowest down payment ratio, and it is the same for both the first and second homes, allowing home buyers everywhere to enjoy the lowest discount.

nbd: the notice on the minimum down payment ratio also mentions the "principle of city-specific policy implementation". according to the regulatory requirements of the governments of each city in the jurisdiction, it is independently determined whether each city in the jurisdiction has set a differentiated minimum down payment ratio policy, and determines the minimum down payment in each city under the jurisdiction. ratio lower limit. what policy space does this setting reserve for regions, and what impact may it have on real estate policy regulation in different regions?

yan yuejin:regarding the policy of implementing city-specific policies, various localities should understand it this way: first, each locality must grasp and enhance its autonomy in real estate regulation, which is very important; second, the autonomy of regulation must be combined with city-specific policies, because each locality has different characteristics. of course, most places must follow the guidance of continued policy relaxation, but the policy can have some characteristics.

nbd: how do you view the housing price trends in different regions in the future?

yan yuejin:housing prices will generally stabilize and slightly increase. because it can be seen from the recent real estate market that there have been more positive changes. looking at the performance of the entire real estate market, i think overall house price trends should be good. the supply and demand relationship in the market has gradually improved, which has a positive impact on the stabilization of housing prices. therefore, the market is now at the bottom, or in a good situation of stopping the decline and stabilizing.

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