In July, the real estate policy continued to tighten, and the expectation of “housing without speculation” was strengthened again. Since the second half of last year, commercial housing transactions in 30 large and medium-sized cities have remained at a high level, and the market is hot. However, most real estate stocks are constantly hitting new lows, and the valuation is at a historical low. Where should the real estate industry go?
//Heavy real estate policies have been introduced one after another//
1. 8. The Department issued the notice on continuously rectifying and standardizing the order of the real estate market
On July 23, the Ministry of housing and urban rural development and other eight departments issued the notice on continuous improvement and standardization of the order of the real estate market. The notice comprehensively standardizes the order of the real estate market mainly from four aspects: real estate development, housing sales, housing leasing and property services.
2. Shanghai mortgage interest rate rose to 5% for the first set and 5.7% for the second set
On July 23, Shanghai property market regulation and control launched two policies: raising the mortgage interest rate, adjusting the interest rate of the first house to 5% and the interest rate of the second house to 5.7%; The donated housing shall be included in the purchase restriction policy, and the number of housing units owned by the donor shall still be recorded within 5 years. The donee shall comply with the national and Shanghai housing purchase restriction policies. The two new regulations came into force on July 24.
3. The Ministry of housing and urban rural development and the central bank issued authoritative interpretations on affordable rental housing, real estate regulation and real estate financial regulation respectively
On July 22, the Ministry of housing and urban rural development said in its interpretation that in the future, cities with poor regulation and control and rapid rise in house prices will be resolutely held accountable. The next step will also strengthen real estate financial control, improve the third tier and fourth gear financing management rules of real estate enterprises, implement the centralized management of bank real estate loans, and resolutely investigate and deal with violations of business loans, consumer loans and credit loans for house purchase.
The central bank stressed that in the next step, it will continue to improve the long-term mechanism of real estate financial management around the goal of stabilizing land price, house price and expectation.
4. The general office of the State Council printed and distributed the opinions on accelerating the development of indemnificatory rental housing
On July 2, the general office of the State Council issued the opinions on accelerating the development of indemnificatory rental housing, with unprecedented strength. It clarified the basic system and support policies of indemnificatory rental housing from five aspects: Land support, optimization of administrative examination and approval, financial support, tax reduction and fee reduction and financial support. On the same day, the national development and Reform Commission issued the notice on further improving the pilot work of real estate investment trust funds (REITs) in the field of infrastructure, which clearly included affordable rental housing into the pilot project of infrastructure REITs, so as to provide assistance for accelerating the development of affordable rental housing from the capital side.
//Transactions in 30 large and medium-sized cities are hot//
Recently, the continuous increase of real estate regulation may be related to the still hot real estate market. According to wind data, in terms of commercial housing transactions in 30 large and medium-sized cities, a total of 925000 units were sold in the first half of 2021, a significant increase of 43.48% over 644700 units in the same period last year. Of course, the transactions in the first half of last year were low, which was largely affected by the epidemic. With the improvement of the epidemic situation, a total of 1009100 sets were sold in the second half of last year, with a rapid growth.
From the single month trend, in the first three months of 2020, the epidemic was serious and the transactions in the real estate market were light. Then, starting from April, the monthly turnover exceeded 100000 units and continued to rise, of which it reached the peak in December, with 195000 units sold a month. This year continues to be hot. In addition to the impact of the long Spring Festival holiday in February, the turnover fell below 100000 sets, the turnover in other months was more than 160000 sets. It can be seen that since the second half of last year, the turnover in the real estate market has been hot in an all-round way.