In response to the spread of “false fire” in the real estate market, such as “hit the new wave”, “ten thousand people shake” and “second-hand house price jump”, the real estate market regulation policies have been implemented intensively since this year, releasing the signal of maintaining stability in the real estate market.
According to the data provided by Zhongyuan Real Estate Research Center, as of the end of February, the number of real estate market regulation related to the real estate market in various places has reached 87 times since the beginning of this year. There were 42 times in January and 45 times in February. Among the above regulatory policies, Beijing, Shanghai, Shenzhen, Guangzhou, Hangzhou, Dongguan and other first tier cities and hot cities are included.
“Since the beginning of this year, the real estate market regulation policies in many places have been implemented one after another, which makes the signal of plugging loopholes and speculation in the real estate market very obvious.” Zhang Bo, President of the branch of anjuke Real Estate Research Institute, said in an interview with the Securities Daily that not only the first tier cities, but also the second and third tier hot cities are constantly increasing the regulation of the real estate market, which undoubtedly releases a more clear signal to the whole market, that is, the care for the stability of the real estate market. At the same time, it is worth noting that with the further implementation of the long-term mechanism of Finance and land in the real estate market, it is conducive to the stability of house prices in the short term, and the impact on the real estate market will be more in-depth and long-term in the medium and long term.
For example, from the perspective of “finance”, at the end of 2020, the central bank and the China Banking and Insurance Regulatory Commission issued the “notice on the establishment of the management system of real estate loan concentration of banking financial institutions”, which set the upper limit of the proportion of real estate loan balance and the proportion of individual housing loan balance, aiming to control the financial leverage in the real estate field within a reasonable range; at the same time, from this year’s more In terms of the content of Taiwan’s property market regulation policies, all localities have also increased the supervision of house purchase funds through the adjustment of credit policies.
From the perspective of “land”, on February 26, the person in charge of the Department of natural resources development and utilization of the Ministry of natural resources said that this year, all localities are required to further centralize the information of residential land transfer reasonably and moderately, and key cities should make centralized announcement and supply of residential land, so that all kinds of market entities and consumers can fully grasp the information and form reasonable expectations.
Xie Rui, a senior analyst in the real estate industry of Dongfang Jincheng, told the Securities Daily that under the background of “no speculation in housing and housing”, the “five grades classification” and “three red lines” of housing loans jointly form a financial supervision system for the real estate market; in terms of land market, the “two concentration” policy will also make the land cost side of key urban projects to a certain extent In the future, the time rhythm of listing tends to be the same, which will help to stabilize house prices. The emergence of “two concentration” in the upstream investment side will further guide the matching of downstream new construction, promotion and marketing rhythm, and the convergence of land cost side and listing rhythm of competitive products. It is expected that a large amount of supply will be formed in a short time, so as to restrain the rise of housing prices in key cities to a certain extent, so as to achieve the purpose of “stabilizing land prices, housing prices and expectations”.
In fact, under the background of real estate market regulation, even though many sales offices announced that they would not close during the Spring Festival in February, the month on month rise of house prices in 100 cities still narrowed.
According to the price index of 100 cities released by China Index Research Institute on March 1, in February, the average price of new residential buildings in 100 cities in China rose 0.20% month on month, 0.17 percentage point lower than that in January. In terms of the number of rising and falling cities, 66 cities rose on a month on month basis, 27 cities fell on a month on month basis, and 7 cities were flat compared with January. In terms of second-hand housing, the average price of second-hand housing in 100 cities increased by 0.28% on a month on month basis, 0.04 percentage point lower than that in January. Judging from the number of rising and falling cities, 63 cities rose on a month on month basis, 33 cities fell on a month on month basis, and 4 cities were flat with January.
Cao Jingjing, research director of index division of China Index Research Institute, told Securities Daily that looking forward to the future, under the property market regulation target of “stabilizing land price, housing price and expectation”, local governments will further implement the positioning of “housing without speculation” and ensure the stability of regional real estate market with more flexible city specific policies and more refined regulation policies.