According to Hangzhou’s latest policy, from April 9, high-level talents, whether single or from families, will buy second homes in line with ordinary home buyers. Single people cannot buy two homes, and talented families must have lived in Hangzhou for five years before they can buy a second house.
This is the third time since Hangzhou implemented the talent lottery policy in April last year. During this period, Hangzhou’s property market is booming. According to the data of China Index Academy, Hangzhou’s new house price will increase by 8.9% in 2020, second only to Dongguan’s housing price performance.
In this context, some people invest in real estate by taking advantage of the “loophole” of the talent policy. Before Hangzhou, Guangzhou also launched the “guangzhou six” on April 2, 2021, which also tightened the policy on talent house purchase.
Guangzhou and Hangzhou are the cities with hot market performance recently, so it is necessary to curb the behavior of investment and speculation. However, in other cities outside the hot spots, the best way to attract talent is to subsidize the purchase of property for talented people. It can be seen that under the positioning of “housing, housing and not speculation”, the regulation path of “one city, one policy” and “precise policy” has been very in-depth, and the results have gradually emerged.
Hangzhou talent purchase policy to upgrade
The tightening of the Hangzhou talent purchase policy is the second time this year.
In April last year, Hangzhou implemented the talent lottery policy, and the property market in Hangzhou has stepped out of a relatively steep upward curve. The policy of talent house purchase has already experienced two “plugging loopholes” before this.
On July 2, 2020, Hangzhou code regulation, which mentioned the high level talent priority lottery number to buy housing, since the date of the commercial housing contract signed for the record, 5 years shall not be listed trading; On January 27, 2021, “Hangzhou six” issued, the transfer of high-level talents within the purchase limit of Hangzhou housing, must have no self-owned housing record within the purchase limit of Hangzhou for 3 years, can enjoy the priority of high-level talents to buy a house.
Li Xiaoxiao, a senior analyst at Tongce Research Institute, told the 21st Century Business Herald that “Hangzhou has adopted strong policies to attract talents in recent years, has a good development prospect, and the city is preparing for the Asian Games and has invested a lot in infrastructure to improve the city’s public facilities. A number of factors add up, and Hangzhou’s property market continues to be hot.”
Hangzhou property market since last year, has been a national standout. According to the statistics of Krishna Zhejiang region, as of December 29, 2020, the property market in Hangzhou (including Lin ‘an, Fuyang) had a total transaction of 152,000 sets of commercial houses, a month-to-month increase of 12%, more than 140,000 sets in 2018 and more than 130,000 sets in 2019.
Entering 2021, Hangzhou continues to see booming supply and demand. Public data show that in the first quarter of 2021, the second-hand housing market in Hangzhou was active. Except for February, which was affected by the “market closure” during the Spring Festival holiday, the transactions in January and March both exceeded 10,000, with a total transaction volume of over 26,000 units. This figure compares with the same period in recent years, the increase is quite obvious, and is a historical high since 2018.
This is one of the background of Hangzhou’s continuous tightening of house purchase policies. Li Xiaoxiao believes that although the talent purchase since last year has been tightened, but all kinds of housing groups still from a variety of ways to find policy weak points to break through the purchase limit, become one of the factors to promote the market continues to heat up, failed to achieve the expected goal of the policy.
“High-level talents also have the need to live and maintain the value of assets. There is no essential difference between them and ordinary house buyers in purchasing real estate, and they should not be treated differently in the purchase limit. Due to relatively high income, high-level talent will pay more attention to the high total price, or high unit price of the net hot dish, and such real estate often become the we-media speculation and the market vane, high-level talent purchase limit policy is to put an end to talent take the lead in real estate speculation, reduce the hot market, stabilize the market expectations.” Li Xiaoxiao said.