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Original title: Shanghai and Shenzhen Regulation to Stabilize Housing Prices and Expectations
● Our reporter Ni Mingya and Wang Shuchang
Shanghai, Shenzhen and elsewhere have recently introduced a new round of real estate control policies, aimed at stemming the “tide of house grabbing” by increasing transaction costs and increasing supply to stabilize house prices and stabilize prices. expectations. Industry insiders predict that this move may be followed by some hot cities to consolidate the results of previous housing market regulation. Under the tone of “housing to live without speculation”, the continued increases in policies will further curb speculation and strengthen expectations of maintaining the stability of the housing market.
The background of this round of control measures in the real estate market is the continuous release of housing demand and the weakening of the effectiveness of control policies in some areas. If calculated by time, many cities have implemented purchase and loan restrictions for about 5 years, and the demand for home buyers has been released. In addition, in the last two years, major cities have successively introduced policies for the introduction of talent, which has increased the demand for local home purchases. In some areas, new and second-hand home prices are upside down, and the “buy it, win” mentality fuels irrational demand.
In Shanghai, Shenzhen and elsewhere, this round of property market control policies should start from the demand side, on the one hand, “patch” the purchase restriction and loan restriction policies, and contain the “new wave “. For example, Shanghai proposed increasing the VAT exemption period from 2 to 5 years for external sales of individual homes and increasing the cost of second-hand home transactions. Shenzhen requires a strict review of the requirements for buying a home. For the first time, it requires real estate companies and real estate brokerage agencies to work with commercial banks to verify the buyer’s income certificate, credit report, purchase payment source, and bank statements from the past one year or more. Home purchase intention registration system “.
On the other hand, from the supply side, this round of regulation and control policies emphasizes the increase in supply. For example, Shanghai proposes to start with “increasing the supply of land for commercial housing, especially in suburban rail transit stations and the five big new cities” and “insisting on both rental and purchase.” In terms of land market management, Shanghai proposed to “adhere to the real estate and land linkage mechanism, guide enterprises to rationally acquire land, and stabilize land prices.”
In general, the real estate market in 2021 does not have a general overheating base, and the possibility of a sharp increase in house prices is also small. It will be normal for individual hot cities to regulate and control, and this is also the meaning of specific city policy. Some second-tier hot cities are more likely to apply additional regulatory policies. Attention continues to be focused on improving “restricted buying, lending and selling” policies, and increasing the transaction cost of the transaction link and increasing the supply of land, jointly owned housing and other supply link housing supplies. More importantly, regulatory authorities should focus on strengthening market expectations and orientation, and guiding reasonable housing consumption by strengthening market order monitoring, cracking down on market rumors, and regulating the behavior of intermediary agencies.
