the central government sets the tone to "promote the real estate market to stop falling and stabilize", boosting confidence in the real estate market
2024-10-01
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on september 26, the political bureau of the cpc central committee held a meeting to analyze and study the current economic situation and plan the next economic work. the meeting emphasized that it is necessary to promote the real estate market to stop falling and stabilize, and to strictly control the increment, optimize the stock, improve the quality of commercial housing construction, increase the intensity of loans for "white list" projects, and support the revitalization of idle land. it is necessary to respond to the concerns of the masses, adjust the housing purchase restriction policy, reduce the interest rate of existing mortgage loans, speed up the improvement of land, taxation, banking and other policies, and promote the construction of a new model of real estate development.
chen wenjing, policy research director of the china index research institute, told a reporter from securities daily that this meeting clarified a number of real estate measures, and the content and formulation of real estate were also relatively positive, placing real estate policy in an important position.
multiple measures are taken to support the market to "stop falling and stabilize"
currently, the real estate market is facing certain downward pressure. data from the national bureau of statistics show that in the first eight months of this year, the sales area of newly built commercial housing fell by 18.0% year-on-year; in august, among 70 large and medium-sized cities, the sales price of commercial housing in all tiers of cities fell month-on-month, and the year-on-year decline overall expanded slightly.
this meeting made it clear that "we must promote the real estate market to stop falling and stabilize", pay attention to the real estate market situation, make the latest arrangements for real estate work, and fully release positive signals.
"stopping the decline should include stopping the decline in transaction volume and transaction prices." yan yuejin, deputy director of shanghai eju real estate research institute, said in an interview with a reporter from securities daily that this statement sends a clear signal. all localities are required to do a good job in stabilizing market transactions and prices. in the fourth quarter, various regions may introduce significant additional policies to better promote the stabilization of the real estate market.
in order to achieve the goal of "stopping the decline and regaining stability", this meeting proposed a number of measures, touching both ends of supply and demand, covering various aspects such as destocking and risk prevention.
among them, the meeting emphasized that "the construction of commercial housing must strictly control the increment, optimize the stock, and improve the quality." different from the previous statement of "digesting the stock and optimizing the increase", it puts forward more clear requirements for the incremental commercial housing and housing quality.
li yujia, chief researcher of the housing policy research center of the guangdong provincial institute of urban and rural planning, told a reporter from the securities daily that strict control over the increase is proposed for the first time, which means that various localities may strictly control the new supply of land and the supply of new houses to alleviate the current relatively tight supply. huge inventory pressure.
regarding "optimizing stock and improving quality", chen wenjing believes that upgrading and transforming existing housing stock may be an important direction; further improving the quality of commercial housing construction, the construction of "good houses" may already be a basic requirement, and promoting the construction of "good houses" the supporting policies are expected to continue to be implemented.
in addition, the meeting also emphasized increasing the number of loans for “whitelist” projects. at present, the urban real estate financing coordination mechanism has achieved good results. li yunze, director of the state administration of financial supervision and administration, said at a press conference held by the state council information office on september 24 that so far, commercial banks have approved more than 5,700 "whitelist" projects, and the approved financing amount has reached 1.43 trillion yuan, supporting more than 4 million housing units were delivered on schedule.
chen wenjing said: "in the future, increasing the intensity of loans for 'whitelist' projects will improve the financial environment of enterprises, ensure project delivery, and further stabilize the expectations of home buyers."
focus on public concerns
in addition to clarifying the future policy direction of the supply side, for the demand side, the meeting proposed that "it is necessary to respond to the concerns of the masses, adjust housing purchase restriction policies, and reduce existing mortgage interest rates."
"it is expected that some cities will take active actions in relaxing purchase restrictions and reducing existing mortgage interest rates in the near future, and the nationwide reduction of existing mortgage loans may be officially launched in the near future." yan yuejin said.
in fact, under the influence of several recent policies related to the real estate field, real estate market confidence has improved to some extent.
"we have been actively promoting the new policy to our customers in the past few days, and some customers have made appointments with us to view houses after learning about the policy." a broker from an agency in beijing said that the second-hand housing market has responded more positively than new houses.
"the expected end of the real estate market is continuing to improve and boost." yan yuejin said that the current activity in fields such as home purchase consultation has begun to increase. with the implementation of relevant policies, market confidence will continue to rebound.
source: securities daily
