On April 16, Kunming Municipal Government issued 25 new policies to stabilize real estate, and formulated relevant policies from eight aspects: accelerating the renovation of commercial housing, alleviating the difficulties of real estate development enterprises during the epidemic prevention and control period, encouraging various resettlement methods, and optimizing housing financial services.
Among them, the demand-side policy is to increase the support for reasonable housing demand such as the first suite and improved housing by appropriately increasing the amount of housing provident fund loans and reducing the down payment ratio for purchasing the second suite.
The industry believes that Kunming's New Deal is more detailed, because the city's policy and landing are relatively strong, mainly to eliminate excessive commercial inventory and bail out enterprises. There are many supply-side measures and few demand-side stimulus policies, which shows the stability and continuity of policies and is worth learning from other cities. It is expected that more weak second-tier and third-and fourth-tier cities will follow up to relax regulation and even stimulate residents to buy and consume. The bottom of the market may come in the second quarter, and the transaction may stabilize and rebound.
Kunming issued 25 new policies to stabilize real estate.
On April 16, Kunming Municipal Government issued "Opinions on Promoting the Work of Stabilizing Land Price and Housing Price in the Real Estate Market" (hereinafter referred to as "Opinions").
Opinions * * * consist of eight articles and 25 paragraphs, which respectively formulate relevant policies from eight aspects: accelerating the renovation of commercial housing, rationally utilizing commercial land, alleviating the difficulties of real estate development enterprises during the epidemic prevention and control, encouraging relocation in various ways, optimizing business services, optimizing housing financial services, effectively preventing and resolving real estate market risks, continuously rectifying and standardizing the real estate market order, and guiding public opinion in the real estate market.
The Opinions put the commercialization of commercial housing in the first place, and put forward that the supply rhythm of commercial land should be determined through the commercialization of commercial housing; Optimize the proportion of commercial and residential; Encourage the transformation of commercial office space into affordable rental housing; Allow the commercial land that has been supplied but has not yet started construction or is under construction to be used for public service facilities; Encourage the use of idle commercial office buildings to create "double innovation centers" and develop building economy and non-disciplinary training.
The Opinions also encourage the resettlement of immigrants in various ways. By increasing monetary resettlement, on the voluntary basis of residents and communities, using completed commercial and commercial buildings for equivalent resettlement, and giving appropriate flexible resettlement methods such as area reward and compensation, diversified resettlement needs can be effectively met, and the resettlement efficiency can be improved while upgrading commercial and commercial buildings.
In terms of optimizing housing financial services, the Opinions propose to increase support for reasonable housing needs such as first suite and improved housing by appropriately increasing the amount of housing provident fund loans and reducing the down payment ratio for the purchase of second homes.
In terms of alleviating the difficulties of enterprises, the Opinions put forward that the real estate projects that paid the land transfer fee from June 1 day to February 3 1 day, 2022, will be postponed (60 days); Allow real estate development enterprises to delay the payment of supporting fees for urban infrastructure; Further simplify the planning approval procedures and ease the financial pressure of real estate development enterprises; Further improve the supervision system of pre-sale funds.
Kunming commercial office is under great pressure to go to stock.
As for the reasons for the stable real estate policy in Kunming, the Kunming Municipal Government said that it is to implement the spirit in the government work report, adhere to the positioning of "staying in the house and not speculating", implement the long-term mechanism of the real estate market, and promote the healthy development and virtuous circle of the real estate industry.
The reason why the New Deal puts the commercialization of commercial housing in the first place is because Kunming has a large commercial inventory. Zhang Qingxian, a senior analyst of Kunming Company of the Central Reference Institute, pointed out that the data showed that as of March 2022, the stock of commercial commercial housing market in Kunming was as high as 1 1.65 million ㎡, and the decontamination cycle was over 90 months, with high inventory and high decontamination pressure.
The chief researcher of Guangdong Housing Policy Research Center also said that weak second-tier cities such as Kunming have large commercial stocks. Kunming's approach is to consider the increment of stock together and the change of sales and functions together. For example, those that have been stored or not started will be transformed into rental houses, with new industrial land (M0), temporary green space and public facilities such as old-age care and child care. In addition, the government can guide market institutions to develop "* * * office" and non-disciplinary training. Even, the docking of resettlement demand with commercial and commercial housing is an innovative measure to resolve commercial inventory through multiple channels.
Zhang Qingxian also believes that Kunming will combine the demand for relocation and resettlement with the deindustrialization of commercial buildings, and use the existing commercial buildings for equivalent resettlement and give appropriate area rewards to increase the efficiency of relocation and resettlement, and at the same time drive the deindustrialization of commercial buildings, killing two birds with one stone.
It is worth noting that Kunming's demand-side policy is mainly to support the provident fund, increase the amount of the provident fund, and reduce the down payment for buying a house with two sets of provident fund loans. However, there are no clear measures to reduce the down payment of commercial mortgage loans, and policies such as restricting purchases and sales are not mentioned at all.
"Overall, Kunming's New Deal is more detailed. Because the city's policy and landing are relatively strong, it is mainly to eliminate excessive commercial inventory and bail out enterprises. There are many supply-side measures, but there are not many demand-side stimulus policies, which reflects the stability and continuity of policies and is worth learning from other cities. " Li said to him.
The bottom of the market will come in the second quarter.
China, a brokerage company, has sorted out that in the 16 days since April, 20 cities including Quzhou, Qinhuangdao, Dalian, Mianyang, Lanzhou, Lishui, Taizhou, Anshun, Suzhou, Nanjing, Xianning, Jingmen, Huangshi, Shanghai, Huaibei, Nanping, Yichang, Jingmen and Kunming have loosened their housing purchase policies, involving restrictions on purchases and loans.
Ding Zuyu, executive director of Shanghai Yiju Real Estate Research Institute, believes that weak second-tier and third-and fourth-tier cities may follow suit to relax regulation and even stimulate residents' purchase and consumption. The focus is on the combination of rescue policies, mainly through the following two aspects:
First, the degree of market stability: first, lower the threshold for settlement, speed up the settlement of talents, and partially relax the purchase restriction. Second, the provident fund loan should be relaxed, and the down payment ratio of commercial loans should be implemented according to the minimum standards set by the central bank, so as to reduce the mortgage interest rate and shorten the mortgage cycle. The third is to speed up shed reform and old reform and increase the proportion of monetized resettlement. Fourth, fiscal and taxation incentives support the market, and housing subsidies and tax relief are all policy choices.
Second, the level of corporate bail-out: First, lower the pre-sale threshold of commercial housing and speed up the examination and approval of pre-sale certificates. Second, while strictly implementing the "guarantee the ground floor", moderately relax the supervision of pre-sale funds and increase the extraction ratio of each construction node. Third, lower the threshold of land auction, increase the supply of low-cost and affordable land, reduce the bid bond, and postpone the payment of land.
"Since April, Suzhou, Nanjing, Fuzhou and other key cities have relaxed regulation, and the real estate market in each city has rotated periodically. The bottom of the market may come in the second quarter, and the transaction may stabilize and rebound. " Ding Zuyu said.