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news from the financial sector on october 1: in time for the traditional peak sales season in the real estate market before the national day golden week, the four major first-tier cities in beijing, shanghai, guangzhou and shenzhen have collectively adjusted their property market purchase restriction policies.

late at night on september 30, six departments in beijing jointly issued the "notice on further optimizing and adjusting the city's real estate-related policies". for non-beijing families who purchase housing within the fifth ring road, the social security or individual tax payment period will be changed from "continuous to the date of purchase." "payment for 5 years or more" was reduced to "payment for 3 years or more continuously before the date of purchase"; for those purchasing a house outside the fifth ring road, it was further reduced to "payment for 2 years or more continuously before the date of purchase". the purchase of houses by high-level and urgently needed talents that meet the needs of beijing's economic and social development is clearly defined as "continuous payment for one year or more before the date of house purchase."

beijing has also lowered the down payment ratio for mortgage loans. the minimum down payment ratio for commercial personal housing loans for first-home loans will be lowered from no less than 20% to no less than 15%, and for second-home loans from no less than 35% (for purchasing housing within the fifth ring road) to no less than 30% ( purchase of housing outside the fifth ring road) will be uniformly reduced to no less than 20%.

in addition, the "special treatment" of tongzhou district's purchase restriction policy is cancelled, and remains consistent with beijing's purchase restriction policy. residential households purchasing commercial housing in tongzhou district shall follow the city's unified policies.

it is worth noting that the capital beijing is also the last city among the four first-tier cities to introduce adjustments to the property market purchase restriction policy. zhang dawei, chief analyst of centaline real estate, said that beijing has introduced relatively cautious policies, and this purchase restriction policy is also the last to be introduced among first-tier cities in the country. compared with the policies of shanghai and shenzhen, beijing’s adjustments to purchase restrictions are relatively small, and the threshold for purchase restriction years is also higher than that of other cities.

on the evening of the 29th, shanghai, guangzhou, and shenzhen successively relaxed or adjusted their property market purchase restriction policies.

among them, guangzhou has the largest policy scale. it directly announced the complete cancellation of the purchase restriction policy, becoming the first first-tier city to completely withdraw from the purchase restriction policy. this policy clarifies that after the adjustment of the purchase restriction policy, households with registered residents, non-registered residents and single persons in the city who purchase houses within the city will no longer be reviewed for house purchase qualifications, and the number of houses purchased will no longer be limited.

in this regard, yan yuejin, deputy director of shanghai yiju real estate research institute, said that guangzhou's policies have a positive orientation, which also means that various localities make full use of their autonomy in real estate regulation and implement city-specific policies on home purchase. the opening of the most lenient policy relaxation window in history also means that the "real estate bull market" is gradually beginning.

the policy scale of shanghai and shenzhen is relatively small.

shanghai has clarified in its adjustment of housing purchase restriction measures: first, for non-shanghai registered resident families and single individuals who purchase housing outside the outer ring road, the number of years required to pay social insurance or personal income tax for the purchase of a house will be adjusted to the period of one consecutive year before the date of purchase and above. second, non-shanghai resident families who hold a "shanghai residence permit" and whose points reach the standard value and have paid social insurance or personal income tax in shanghai for three years or more will enjoy the same treatment as shanghai resident families in purchasing housing units. . the third is to implement a more differentiated house purchase policy in the lingang new area of ​​the shanghai free trade zone. for groups who work in lingang and have job-housing separation, on the basis of the existing housing purchase restriction policy, they can purchase an additional 1 house in the new area. housing to promote work-housing balance.

in terms of optimizing housing credit, the "notice" proposes that, first, implement the national policy on reducing existing mortgage interest rates and guide commercial banks to steadily and orderly reduce existing mortgage interest rates to near the new loan interest rates to further reduce the mortgage interest expenses of home buyers. second, the minimum down payment ratio for commercial personal housing loans for first homes is adjusted to no less than 15%. the minimum down payment ratio for commercial personal housing loans for second homes is adjusted to no less than 25%; the minimum down payment ratio for second home loans in areas with differentiated policies is adjusted to no less than 20%. the minimum down payment ratio for housing provident fund second home loans will be adjusted accordingly.

in terms of adjusting housing taxation, the "notice" proposes: first, adjust the value-added tax collection and exemption period from 5 years to 2 years for individuals' external sales of housing. the second is to cancel ordinary housing standards and non-ordinary housing standards in a timely manner in accordance with national work arrangements to better meet the demand for improved housing.

in this regard, lu wenxi, a senior analyst at shanghai zhongyuan real estate, believes that the core of this policy lies in the optimization of purchase restrictions, financial measures and tax adjustments. these are what buyers or sellers are most looking forward to. it is also important for all parties in the market to obtain practical benefits. market transactions generate content that drives directly.

in addition, yan yuejin, deputy director of shanghai yiju real estate research institute, pointed out that shanghai’s policy tools this time cover a wide range of areas, including administration, finance, finance and taxation. this fully demonstrates that the policy tools are sufficient and complete, which will help to achieve a good policy mix and promote the further release of policy effects.

shenzhen has clarified in its adjustment of housing purchase restrictions that households registered in the city (including families with some family members registered as residents in the city, the same below) are limited to purchasing two houses, and adult singles registered in the city (including divorced, the same below) are limited to purchasing one house. housing. on the basis of the implementation of the above housing purchase restriction policy, one more unit can be purchased in yantian district, bao'an district (excluding xin'an street and xixiang street), longgang district, longhua district, pingshan district, guangming district, and dapeng new district housing.

families and adult singles who are not residents of this city are limited to purchasing one house. when purchasing a house within futian district, luohu district, nanshan district, and xin'an street and xixiang street in bao'an district, you must provide proof of continuous payment of personal income tax or social insurance in this city one year before the date of purchase. when purchasing a house in yantian district, bao'an district (excluding xin'an street and xixiang street), longgang district, longhua district, pingshan district, guangming district, and dapeng new district, there is no need to provide personal income tax or social insurance certificates.

at the same time, shenzhen has also lifted restrictions on the transfer of commercial housing and commercial apartments, that is, commercial housing and commercial apartments can be listed for trading after obtaining a real estate registration certificate.

in addition, shenzhen has also adjusted the value-added tax exemption period for personal housing transfers from 5 years to 2 years; the minimum down payment ratio for commercial personal housing loans for first homes has been adjusted to 15%, and the minimum down payment ratio for commercial personal housing loans for second homes has been adjusted adjusted to 20%; and launched a pilot project for existing home sales, gradually increased the proportion of existing home sales in newly supplied land, and promoted the reform of the sales system in an orderly manner.

now, after the four major first-tier cities have successively adjusted their purchase restriction policies, will the property market follow the stock market and embark on a "bull market"?