8 cities officially announced the complete cancellation of purchase restrictions, and since September, more than 9 provinces and cities across the country have optimized property market policies
In order to support rigid and improved housing purchase demand and further boost market confidence, the pace of implementation of property market policies in various places has accelerated. Since September, more than 9 provinces and cities across the country have optimized their property market policies, and more and more cities have followed up to lift the purchase and sale restrictions.
Shandong two cities followed up to lift the property market purchase restrictions
Within one day, the two cities in Shandong completely lifted the property market purchase and sale restriction policy.
On September 9, according to the Qilu Evening News, the reporter learned from the Jinan Housing and Urban-Rural Development Bureau that in order to maintain the stable and healthy development of the city's real estate market, support rigid and improved housing demand, and further boost market confidence, Jinan adjusted the current real estate regulation and control policies and measures: cancel the restrictions on house purchase in Lixia District and Shizhong District within the second ring road; At the same time, commercial housing can be listed and traded after obtaining the "Real Estate Certificate". Effective from September 11, 2023.
It is worth mentioning that Lixia District and Shizhong District within the second ring road are the only restricted areas left in Jinan. After the lifting of the purchase restriction, Jinan has completely canceled the purchase restriction.
On the same day, Qingdao Housing and Urban-Rural Development Bureau issued the Notice on Moderately Adjusting the City's Real Estate Policy, adjusting the housing purchase restriction area, moving the south district and the north district of the city (except for the original four-party area) out of the restricted purchase area, and canceling the purchase restriction policy in the whole area. At the same time, optimize the number of years of housing listing and trading. Within the city, commercial housing can be listed and traded after obtaining the "Real Estate Title Certificate".
Yuan Binbin, general manager of Shandong Real Estate of the China Index Research Institute, pointed out that the cancellation of purchase restrictions and sales restrictions in Qingdao and Jinan will play a positive role in the current real estate market. Especially it helps a lot to boost confidence. The number of second-hand housing listings will increase rapidly in the short term, the transaction volume will increase slightly, the price will remain stable, and the number of new house visits will increase to a certain extent, but the overall impact will not be particularly large. It believes that on the one hand, the areas of Qingdao and Jinan that were previously restricted to purchase are already relatively small, and the policy introduced by Jinan in January has looser requirements for purchase restrictions; Secondly, the sale of second-hand houses within 1 years of the property certificate will have a relatively high value-added tax, which will affect the cost of the transaction, and if the tax policy can be followed up and optimized in the later stage, I believe that the driving effect on the market will be greater.
Purchase restrictions have been completely lifted in 8 cities
Prior to this, Nanjing, a strong second-tier city, also withdrew from the ranks of restricted cities.
On the evening of September 9, Nanjing, the capital of Jiangsu Province, issued the "Latest Measures to Promote the Development of the Real Estate Market in Nanjing", a total of 7 latest measures. In addition to requiring the implementation of the latest requirements for adjusting the national credit policy, the new policy also clarifies that in order to further optimize the housing purchase service process, from September 6, the purchase of commercial houses in the four districts of Xuanwu District, Qinhuai District, Jianye District and Gulou District no longer requires a house purchase certificate.
In fact, the above four main urban areas were previously the only remaining restricted areas in Nanjing. After these 4 areas are no longer restricted to purchases, it means that Nanjing has completely canceled the purchase restrictions on commercial housing.
Yan Yuejin, research director of E-House Research Institute, pointed out that as a strong second-tier city, the complete cancellation of Nanjing's purchase restriction policy has a strong signal significance, and also represents that the policy of other key cities in the country will develop in the direction of continuous relaxation.
According to incomplete statistics from Zhuge Data Research Center, as of now (September 9), 11 cities, including Dongguan, Foshan, Shenyang, Jiaxing, Dalian, Nanjing, Jinan and Qingdao, have officially announced the full cancellation of the purchase restriction policy. The market effect of the liberalization of purchase restrictions in core second-tier cities may be significantly greater than that of other low-level cities, so the comprehensive lifting of purchase restrictions in core second-tier cities such as Jinan, Qingdao and Nanjing is of great significance to the current real estate market.
Since September, more than 9 provinces and cities across the country have optimized their property market policies
According to a previous report by Guois Express, the administrative and restrictive housing purchase policies represented by purchase restrictions, loan restrictions, sales restrictions, and price restrictions were once regarded as a "killer app" in the toolbox of property market regulation and control in various places. However, as China's real estate market enters a new stage, it is widely believed that it is difficult for China's real estate market to repeat the rapid development of the past. At present, the adjustment pressure of the property market in many places has increased, and in the face of slow recovery of market confidence and low transaction activity, the suitability of restrictive housing purchase policies has declined when policies are implemented according to the city.
It is also worth mentioning that since July this year, the official has repeatedly stated that it is necessary to better meet the rigid and improved housing needs of residents.
On July 7, the Political Bureau of the CPC Central Committee held a meeting to analyze and study the current economic situation and make arrangements for economic work in the second half of the year.
The meeting pointed out that it is necessary to effectively prevent and resolve risks in key areas, adapt to the new situation of major changes in the supply and demand relationship of China's real estate market, adjust and optimize real estate policies in a timely manner, make good use of the policy toolbox according to urban policies, better meet the rigid and improved housing needs of residents, and promote the stable and healthy development of the real estate market.
On July 7, according to Xinhua News Agency, Ni Hong, Minister of Housing and Urban-Rural Development, said at a recent enterprise symposium that it is necessary to continue to consolidate the trend of stabilization and recovery of the real estate market, vigorously support rigid and improved housing demand, and further implement policies and measures such as reducing the down payment ratio and loan interest rate for the purchase of the first home, tax exemptions and exemptions for improved housing purchases, and "recognizing houses without recognising loans" for personal housing loans; Continue to do a good job in ensuring the delivery of buildings, accelerate the construction and delivery of projects, and effectively protect the legitimate rights and interests of the people.
Subsequently, many places responded to the adjustment of policies and measures such as "recognizing housing without recognising loans" for personal housing loans.
According to the monitoring data of the China Index Research Institute, from September 9 to 1, more than 10 provinces and cities across the country have optimized the property market policy, with more than 30 policy frequencies, and the pace of policy implementation has accelerated in order to seize the "Golden Nine Silver Ten" market window. On August 30, Guangzhou and Shenzhen took the lead in implementing the policy of "recognizing a house without recognizing a loan" for the first home, and on September 8, Beijing and Shanghai followed up and implemented, exceeding market expectations, in addition to first-tier cities, more than 30 cities such as Chengdu, Hangzhou, Xiamen, Changsha and Suzhou followed up and implemented relevant measures. Nanjing, Shenyang, Dalian, Lanzhou, Qingdao and Jinan have cancelled purchase restrictions, and Shanghai has lowered the threshold for talents in the Lingang New Area to purchase houses. In addition, more than 9 cities, including Shenyang, Dalian, Chongqing and Nanjing, have clearly implemented differentiated housing credit policies. (Surging News Reporter Ji Simin)