According to the "Xin'an Evening News" under the Anhui Daily Newspaper Group, on the afternoon of June 24, Hefei, the capital of Anhui Province, once again adjusted the purchase restriction policy: first, the household registration of collective households registered in the urban

Author: Zifeiyu

01 | Hefei relaxes purchase restrictions again

According to the " Xin'an Evening News " owned by Anhui Daily Newspaper Group, on the afternoon of June 24, Hefei, the capital of Anhui Province, once again adjusted its purchase restriction policy:

No. 1, the household registration is in Collective households in the urban area and families living with relatives and friends have the same house purchase qualifications as households registered in the urban area.
Second, in the determination of home purchase qualifications for households that are not residents of this city, social security and individual taxes are recognized retroactively and repaid.
Third, legal persons and unincorporated organizations can purchase newly built commercial housing and second-hand housing within the urban area. Among them, newly built commercial housing must be sold by the development company itself.
Fourth, when querying purchase restriction qualifications, housing in non-purchase restriction areas (Xinzhan District, Yaohai District, Xinqiao Industrial Park) will no longer be counted as family housing units, and the qualification criteria for rigid needs remain unchanged.

Xin'an Evening News has obtained confirmation from the Hefei Housing Transaction Management Center.

This is Hefei’s next major relaxation since last month’s significant relaxation of purchase restrictions, and the intensity is no less than that in May.

html In May, Hefei released a loosening policy, canceling purchase restrictions in Xinqiao Industrial Park in Yaohai District, Xinzhan District and Economic Development Zone, and reducing the social security requirements for foreigners buying houses in restricted areas from 2 years to 6 months. In addition, registered residents can purchase up to three apartments in purchase-restricted areas. The latest four relaxation policies of

are based on the continuation of May.

For example, Article 2 stipulates that social security can be paid back. This is copied from Nanjing's work. On June 13, Nanjing issued the same policy. The requirement for non-household residents to purchase houses was reduced to 6 months. Now these 6 months of social security can be paid in one go. The function of

is equivalent to completely liberalizing purchase restrictions, but it also prevents you from catching the problem. Did you say you let it go? No, you still require 6 months of social security. You said you haven't let go? That’s not right. You can buy it at any time. Social security is not enough, so you can just make a one-time payment.

The fourth policy is also a bad one. Cities such as Chengdu and Wuhan have issued it. To put it simply, houses in peripheral areas with no purchase restrictions are not included in the statistics. Even if you have 10 apartments in the outer area, in the purchase-restricted area, registered residents still have the authority to purchase 3 apartments, and non-registered residents have the authority to purchase 1 apartment.

02 | Hefei

, which has returned to its old business, is most worthy of analysis. Article 3 allows legal persons and unincorporated organizations to purchase new and second-hand houses.

This is a typical slap in the face. You should know that in the "8 New Deals" issued by Hefei on April 5 last year, it was proposed that legal entities and unincorporated organizations are not allowed to sell commercial housing.

has only lasted one year and two months, and it will be withdrawn now, allowing legal entities and unincorporated organizations to purchase houses again.

To simply understand, it means that companies are once again allowed to buy houses and start to resume their old businesses.

Before 2022, in order to block the way for enterprises to speculate in real estate, cities such as Hefei, Hangzhou, Xi'an, Nanjing, Shanghai, Shenzhen, Changsha, Jiangyin and other cities issued measures to prohibit legal persons and unincorporated organizations from purchasing residential properties.

The truth behind it is that companies are the largest real estate speculators, especially listed real estate companies. You can understand this by looking at a set of shocking data.

In 2017, Xinhuanet disclosed a set of data. Among A-share 3,582 listed companies, a total of 1,656 listed companies held investment real estate, accounting for 46.23%. The total market value was 990.466 billion yuan, a year-on-year increase of nearly 20%.

In 2019, this data continues to increase. According to Wind statistics, as of the end of the third quarter of 2019, among the 3,743 A-share listed companies, 1,826 listed companies held investment real estate, accounting for more than 48%, with a total market value of 1.334 billion yuan.

Ordinary people buy a few houses at most, while listed real estate companies buy houses by the dozen.

In the past two decades, because housing prices have been rising, many companies, especially listed companies, have obtained huge returns by investing in real estate.

After they have tasted the sweetness, many of them are not without controversy. The money earned from the main business is not used to expand the industrial chain or expand the scale of reproduction , but choose to invest in real estate.

After all, during that time, investing in property was the least nerve-racking thing you could do and easily earn a return. Judging from the data, more than 40% of listed companies engage in housing hoarding behavior.

According to publicly disclosed data, by the first quarter of 2019, the number of listed companies holding investment properties exceeding 10 billion had reached 25, with Macalline ranking first. There are 50 listed companies holding investment properties worth more than 5 billion. The majority of these businesses are primarily non-real estate businesses.

In this context, it can be said that the hoarding behavior of listed real estate companies is the main driving force behind the continued rise in housing prices in China.

Therefore, during the last round of regulation, many cities blocked this link and prohibited companies from purchasing houses.

However, times have changed, and in today’s real estate market environment, cities are trying their best to support the real estate market. Even if they fully relax purchase restrictions, there is no improvement.

The latest data disclosed by the National Bureau of Statistics not long ago show that the country’s real estate development investment, commercial housing sales, and commercial housing sales in May are still declining.

This forced cities to come up with bigger and more powerful tricks. Hefei once again allowed legal persons and unincorporated organizations to purchase new and second-hand houses, which is a typical example.

03 | It is all self-comfort.

Whether it is relaxing or even relaxing purchase restrictions, or allowing companies to purchase houses again, it is all self-comfort.

The former has been verified to be invalid. In April and May, cities such as Shenyang, Dalian, Nanjing, Suzhou, and Dongguan successively relaxed or even completely relaxed purchase restrictions, but feedback data shows that transaction volume is still at a low level.

As for allowing companies to purchase houses again, it is obviously not effective. The reason is simple. In the current environment, many listed companies are losing profits. Ordinary people don’t dare to buy it yet, do you think companies will be even stupider?

According to Flush ifind data, in 2021, among the 4,792 listed companies that used the deduction of non-returning net profits as the screening indicator, a total of 3,837 listed companies achieved profits and 955 listed companies suffered losses. The proportion of loss-making listed companies is close to 20%, a new high.

Many companies are selling real estate to cash out in order to whitewash their performance and maintain their status as listed companies.

This account wrote an article at the end of March "

Listed real estate companies that have sold houses in recent years include Guangzhou Langqi , Xiangli Shares, Baobian Electric, Yuntianhua , Only Education , Zhongcheng Co., Ltd. , Hisun Pharmaceutical , *ST Zhongan, Shuguang Co., Ltd., Kaiwen Education, Guofa Co., Ltd., *ST Haima, *ST Zhongfang .

Some of these companies are trying to whitewash their performance, some are trying to turn losses into profits and maintain their status as listed companies, and some are trying to enhance cash flow .

Even without these demands, in the current environment, it is time for listed real estate companies to sell, and if they continue to hold them, there is a high probability that they will eat up the profits they made before.

In this context, if you say you will allow companies to purchase houses again, who will go? With high taxes, high holding costs of and , and the uncertain real estate market, which company is willing to take advantage of it?