2022 real estate market setting meeting has finally arrived.
On the morning of February 24, the State Council Information Office held a press conference. Wang Menghui, Minister of the Ministry of Housing and Urban-Rural Development, joined hands with Ni Hong, Vice Minister of Housing and Urban-Rural Development, Zhang Xiaohong, Vice Minister of Housing and Urban-Rural Development, and Li Xiaolong, Director of the General Office of the Ministry of Housing and Urban-Rural Development, appeared together.
At present, the real estate market has bottomed out and recovered, and financial institutions’ targeted support for mergers and acquisitions has also been increasing. The risks of real estate companies are being cleared in an orderly manner. This is the background of this press conference. From the official perspective, the real estate adjustment in 2021 is basically in line with expectations.
Ni Hong set the tone for 2021: Overall, the real estate market was running smoothly last year, which also proved that the long-term mechanism of real estate was in line with the law and was effective.
This is mainly based on the following data:
First, housing transaction volume maintains positive growth. The sales area of commercial housing reached 1.565 billion square meters last year, which is also a new high in recent years, an increase of 1.1% year-on-year.
Second, the housing price increase has declined. Last year, the sales prices of first-hand and second-hand houses rose by 2% and 1% respectively in 70 large and medium-sized cities, down 1.7 and 1.1 percentage points from 2020.
Third, real estate development investment has maintained positive growth. It reached 14.8 trillion yuan for the whole year, an increase of 4.4% year-on-year. Residential investment increased by 6.4% year-on-year, 1.5 percentage points higher than fixed asset investment .
Fourth, the sales cycle is still in a reasonable range. Generally speaking, the sales cycle is normal for 12 months to 18 months. The level at the end of last year was 14.1 months, which is in a reasonable range.
The performance of the real estate market in 2021 is the premise of the regulatory policies in 2022. This also means that the real estate industry will continue to implement regulatory policies, and there will be no major relaxation, and even orderly clearance will become more and more normalized. In this regard, everyone will become more and more adaptable.
01
set tone 2022: Stable
can be determined. The tone of the real estate market in 2022 is still stable. It can be said that this is the prerequisite for the structural adjustment of the industry and the requirement for macroeconomic development.
In terms of maintaining the stable operation of the real estate market, Wang Menghui said: Maintain the continuity and stability of regulatory policies and enhance the accuracy and coordination of regulatory policies. Continue to steadily implement a long-term mechanism for real estate to ensure the urgent housing needs, while meeting reasonable improvement needs, promoting the virtuous cycle and healthy development of the real estate industry, and strive to stabilize land prices, housing prices and expectations.
Ni Hong said that we still unswervingly adhere to the positioning of "houses are for living, not for speculation", and do not regard real estate as a tool and means to stimulate the economy in the short term, strengthen expectations and implement policies based on the city to promote the virtuous cycle and healthy development of the real estate industry. Although the
proposal is not new, this is a major policy direction. The subtlety is that strengthening expectations and implementing policies based on cities means that policies are more flexible local adjustments to ensure the urgent housing needs and meeting reasonable improvement needs. This means that the market will be able to recover to a certain extent based on real housing demand, but that's all.
Specifically, the Ministry of Housing and Urban-Rural Development has the following four aspects:
First, maintain the continuity and stability of regulatory policies. Continue to steadily implement the long-term mechanism for real estate, implement the main responsibilities of cities and the supervision responsibilities of provincial governments, ensure rigid housing needs, meet reasonable improvement housing needs, and continue to stabilize land prices, housing prices and expectations.
The second is to enhance the coordination and accuracy of regulatory policies. The focus is to achieve three "strength": First, strengthen the coordination of policies such as land, finance and market supervision, second, strengthen the regulatory linkage between the ministries, provinces and cities, and third, strengthen the guidance and supervision of the urban ", one city, one policy " policy.
Third, we will resolutely and effectively deal with the risk of overdue delivery of real estate projects caused by debt defaults by individual real estate companies. This work is based on the primary goal of "guaranteeing the delivery of buildings, protecting people's livelihood, and maintaining stability". With the principle of rule of law and marketization, it strengthens the main responsibilities of enterprises, implements the management responsibilities of local governments, maintains social stability, and safeguards the legitimate rights and interests of home buyers.
Fourth, continue to rectify and regulate the order of the real estate market.Last year, we jointly carried out a three-year rectification campaign for the real estate market with seven departments, and the rectification situation last year will be released in a timely manner. The next step is to improve the new market supervision mechanism, vigorously rectify illegal and irregular behaviors in real estate development, transactions, leasing, and property services, and effectively safeguard the legitimate rights and interests of the people.
It is worth noting that although the current policies are still relaxing, this adjustment is still aimed at stability rather than to stimulate the overheating of the real estate market.
Yesterday, Economic Daily published an article saying that when introducing policies to stabilize the property market, we must be especially careful of excessive easing of policies and push the real estate market to a channel of rapid growth, and re-taking the old path of over-reliance on real estate.
Economic Daily emphasized that we must be careful of situations such as land prices break away, frequent land kings appear, excessive funds enter the real estate market in violation of regulations, and speculation on housing prices. The seemingly prosperous false carnival will eventually bring harm to the real estate market and economic development. Especially in some third- and fourth-tier cities and counties where supply has already surplus, if unreasonable expectations of housing prices rising too quickly, but in fact, lack of industry and population support will only allow greater risks to accumulate the real estate market in these cities.
02
Increase the supply of affordable rental housing
0 The main focus of the structural reform on housing supply side is the supply of affordable rental housing. It can be seen from the supply plans continuously provided by various places that the supply force is very strong.
Wang Menghui said that after statistics, we hope to build and raise 2.4 million affordable rental housing units throughout the year. 100,000 new public rental housing units were raised and 1.2 million shanty towns were renovated. At the same time, we will also accelerate the construction of the long-term rental housing market.
The Ministry of Housing and Urban-Rural Development gave a set of data: Judging from the implementation situation, in 40 key cities with a large population inflow, 942,000 affordable rental housing units have been raised in 2021, which is expected to solve the housing difficulties of nearly 3 million new citizens and young people, and a good trend of multi-subject development of affordable rental housing has been initially formed.
From the perspective of supply, affordable rental housing is mainly stock, and Rural collective economic organizations , enterprises, institutions, park enterprises, housing rental enterprises and other entities are still relatively enthusiastic about participating. According to statistics, the affordable rental housing used to build existing land and houses has reached 70%.
sets the tone for affordable rental housing in 2022: continues to vigorously increase the supply of affordable rental housing.
In order to achieve this goal, the Ministry of Housing and Urban-Rural Development has given six major measures, as follows:
First, implement land support policies. The main focus is on five aspects, namely, the use of rural collective commercial construction land, idle land owned by enterprises and institutions, supporting land for industrial parks, existing idle houses and new supply land to build and raise affordable rental housing.
The second is to implement the reconstruction and simplification of the approval process. This is mainly through joint review by governments at all levels, and the relevant departments will speed up the processing in accordance with the project certification.
The third is to implement central subsidies. Last year, the central government subsidized 2.8 billion yuan for 40 cities in the budget investment, and this year it will also increase support for central fiscal subsidies.
Fourth, implement tax and fee preferential policies. Since October 1 last year, it has been implemented that a simple tax calculation method can be applied to rent affordable rental housing for housing rental enterprises to individuals. That is, if the value-added tax was originally levied at a 5% tax rate, it is now calculated at a 1.5% reduction; for enterprises, institutions, and social groups rent affordable rental housing to other organizations, individuals and professional housing rental enterprises, the property tax will be levied at a 4% reduction from 12%.
Fifth, implement water, electricity and gas price policies. For those who use non-residential existing land and non-residential existing houses to renovate and build affordable rental housing, after obtaining the affordable rental housing project certification, the prices of water, electricity and gas will be implemented according to the residents' prices.
Sixth, implement financial policy support. At present, affordable rental housing has been included in the pilot project of real estate investment trust funds in the field of urban infrastructure. At the same time, loans related to affordable rental housing are not included in the management of real estate loan concentration.
Before, affordable rental housing was more like an affiliated role, but now it has gradually become the protagonist of the real estate industry. While increasing supply, the financial problems that have always plagued the development of rental housing are also expected to be completely solved.
htmlOn the afternoon of February 8, the Central Bank of , , , and Banking and Insurance Regulatory Commission, issued the "Notice on the Inclusion of Loans for Affordable Rental Housing in the Management of Real Estate Loans Concentration", increasing support for the development of affordable rental housing.Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center, believes that with the establishment of the housing rental financial system, banks will separately list the loan accounts for housing insurance, and establish completely different loan management systems for such loans in terms of identification, issuance, pricing, and repayment.
03
Urban renewal has become a new economic growth point
Urban renewal, old community renovation, C carbon peak Carbon neutrality, etc. are also key issues in the industry. The Ministry of Housing and Urban-Rural Development has given development ideas in 2022.
first look at urban renewal. According to incomplete statistics, as of the end of 2021, 411 cities across the country have implemented a total of 23,000 urban renewal projects, with a total investment of 5.3 trillion yuan. It not only solves the prominent problems and shortcomings in urban development, but also becomes a new economic growth point.
Regarding how to promote urban renewal work in 2022, Li Xiaolong said that in the next stage, we will promote it from 7 aspects:
, the first is to improve the system. Accelerate the construction of a national urban system, clarify the strategic positioning and core functions of different cities, and promote coordinated regional development.
The second is to optimize the layout. Promote urban group development, carry out urban ecological restoration, and promote the integration and symbiosis between cities and nature.
The third is to improve the function. Accelerate the renewal and transformation of urban infrastructure and public service facilities, improve the urban transportation system, and improve the level of urban services and safety resilience.
is the bottom line of control. Restrict unlimited urban expansion, strictly control the construction of super-high-rise construction, and prevent large-scale demolition and construction.
5 is to improve quality. Strengthen the renovation of old urban communities and the construction of complete residential communities, promote urban aging-friendly construction and renovation of existing buildings and to meet the people's high-quality life needs.
6 is to improve performance. Make full use of the new generation of information technology, accelerate the construction of new urban infrastructure, promote intelligent municipal government, smart community , intelligent construction, and smart urban management, and improve the efficiency and service level of urban operation management.
7 is the way to change. Implement the carbon peak and carbon neutrality goals and tasks in the field of urban and rural construction, change the incremental construction method dominated by real estate, and explore a sustainable urban renewal model guided by the government, operate market and participate in the public.
Regarding old communities, data from the Ministry of Housing and Urban-Rural Development shows that in 2021, 55,600 old urban communities will be renovated nationwide, benefiting 9.65 million residents. From 2019 to 2021, a total of 115,000 old urban communities have been started nationwide, benefiting more than 20 million residents.
Zhang Xiaohong said that in 2022, we will continue to carry out the renovation of old urban communities in a solid and orderly manner, mainly in the following aspects:
First, implement the renovation plan in an orderly manner. We will earnestly grasp the quality of the project and ensure the progress and results of the transformation.
The second is to explore sustainable promotion models. Support local governments to continue to accelerate exploration in promoting the coordinated transformation of neighboring communities and surrounding areas, attracting market forces to participate, raising renovation funds through multiple channels, and improving supporting policies and systems.
The third is to strengthen supervision and guidance. Further improve the mechanism for on-site investigation and assistance guidance, and promptly summarize and promote good experiences, practices and replicable policy mechanisms in various places.
Urban and rural construction is an important area for promoting carbon peak and carbon neutrality. Zhang Xiaohong said that in recent years, relatively significant results have been achieved around green and low-carbon development and improving mandatory standards for building energy conservation. The next development focus includes the following aspects:
First, promoting green and low-carbon construction in cities, including promoting group development, strictly controlling new super-high-rise buildings, building a 15-minute living circle, and accelerating the energy-saving transformation of existing buildings.
Second, build a green and low-carbon countryside. Promote the construction of green and low-carbon rural housing, strengthen the treatment of domestic waste and sewage, and comprehensively promote rural energy conservation and carbon reduction.
2022 real estate market setting meeting has finally arrived.
On the morning of February 24, the State Council Information Office held a press conference. Wang Menghui, Minister of the Ministry of Housing and Urban-Rural Development, joined hands with Ni Hong, Vice Minister of Housing and Urban-Rural Development, Zhang Xiaohong, Vice Minister of Housing and Urban-Rural Development, and Li Xiaolong, Director of the General Office of the Ministry of Housing and Urban-Rural Development, appeared together.
At present, the real estate market has bottomed out and recovered, and financial institutions’ targeted support for mergers and acquisitions has also been increasing. The risks of real estate companies are being cleared in an orderly manner. This is the background of this press conference. From the official perspective, the real estate adjustment in 2021 is basically in line with expectations.
Ni Hong set the tone for 2021: Overall, the real estate market was running smoothly last year, which also proved that the long-term mechanism of real estate was in line with the law and was effective.
This is mainly based on the following data:
First, housing transaction volume maintains positive growth. The sales area of commercial housing reached 1.565 billion square meters last year, which is also a new high in recent years, an increase of 1.1% year-on-year.
Second, the housing price increase has declined. Last year, the sales prices of first-hand and second-hand houses rose by 2% and 1% respectively in 70 large and medium-sized cities, down 1.7 and 1.1 percentage points from 2020.
Third, real estate development investment has maintained positive growth. It reached 14.8 trillion yuan for the whole year, an increase of 4.4% year-on-year. Residential investment increased by 6.4% year-on-year, 1.5 percentage points higher than fixed asset investment .
Fourth, the sales cycle is still in a reasonable range. Generally speaking, the sales cycle is normal for 12 months to 18 months. The level at the end of last year was 14.1 months, which is in a reasonable range.
The performance of the real estate market in 2021 is the premise of the regulatory policies in 2022. This also means that the real estate industry will continue to implement regulatory policies, and there will be no major relaxation, and even orderly clearance will become more and more normalized. In this regard, everyone will become more and more adaptable.
01
set tone 2022: Stable
can be determined. The tone of the real estate market in 2022 is still stable. It can be said that this is the prerequisite for the structural adjustment of the industry and the requirement for macroeconomic development.
In terms of maintaining the stable operation of the real estate market, Wang Menghui said: Maintain the continuity and stability of regulatory policies and enhance the accuracy and coordination of regulatory policies. Continue to steadily implement a long-term mechanism for real estate to ensure the urgent housing needs, while meeting reasonable improvement needs, promoting the virtuous cycle and healthy development of the real estate industry, and strive to stabilize land prices, housing prices and expectations.
Ni Hong said that we still unswervingly adhere to the positioning of "houses are for living, not for speculation", and do not regard real estate as a tool and means to stimulate the economy in the short term, strengthen expectations and implement policies based on the city to promote the virtuous cycle and healthy development of the real estate industry. Although the
proposal is not new, this is a major policy direction. The subtlety is that strengthening expectations and implementing policies based on cities means that policies are more flexible local adjustments to ensure the urgent housing needs and meeting reasonable improvement needs. This means that the market will be able to recover to a certain extent based on real housing demand, but that's all.
Specifically, the Ministry of Housing and Urban-Rural Development has the following four aspects:
First, maintain the continuity and stability of regulatory policies. Continue to steadily implement the long-term mechanism for real estate, implement the main responsibilities of cities and the supervision responsibilities of provincial governments, ensure rigid housing needs, meet reasonable improvement housing needs, and continue to stabilize land prices, housing prices and expectations.
The second is to enhance the coordination and accuracy of regulatory policies. The focus is to achieve three "strength": First, strengthen the coordination of policies such as land, finance and market supervision, second, strengthen the regulatory linkage between the ministries, provinces and cities, and third, strengthen the guidance and supervision of the urban ", one city, one policy " policy.
Third, we will resolutely and effectively deal with the risk of overdue delivery of real estate projects caused by debt defaults by individual real estate companies. This work is based on the primary goal of "guaranteeing the delivery of buildings, protecting people's livelihood, and maintaining stability". With the principle of rule of law and marketization, it strengthens the main responsibilities of enterprises, implements the management responsibilities of local governments, maintains social stability, and safeguards the legitimate rights and interests of home buyers.
Fourth, continue to rectify and regulate the order of the real estate market.Last year, we jointly carried out a three-year rectification campaign for the real estate market with seven departments, and the rectification situation last year will be released in a timely manner. The next step is to improve the new market supervision mechanism, vigorously rectify illegal and irregular behaviors in real estate development, transactions, leasing, and property services, and effectively safeguard the legitimate rights and interests of the people.
It is worth noting that although the current policies are still relaxing, this adjustment is still aimed at stability rather than to stimulate the overheating of the real estate market.
Yesterday, Economic Daily published an article saying that when introducing policies to stabilize the property market, we must be especially careful of excessive easing of policies and push the real estate market to a channel of rapid growth, and re-taking the old path of over-reliance on real estate.
Economic Daily emphasized that we must be careful of situations such as land prices break away, frequent land kings appear, excessive funds enter the real estate market in violation of regulations, and speculation on housing prices. The seemingly prosperous false carnival will eventually bring harm to the real estate market and economic development. Especially in some third- and fourth-tier cities and counties where supply has already surplus, if unreasonable expectations of housing prices rising too quickly, but in fact, lack of industry and population support will only allow greater risks to accumulate the real estate market in these cities.
02
Increase the supply of affordable rental housing
0 The main focus of the structural reform on housing supply side is the supply of affordable rental housing. It can be seen from the supply plans continuously provided by various places that the supply force is very strong.
Wang Menghui said that after statistics, we hope to build and raise 2.4 million affordable rental housing units throughout the year. 100,000 new public rental housing units were raised and 1.2 million shanty towns were renovated. At the same time, we will also accelerate the construction of the long-term rental housing market.
The Ministry of Housing and Urban-Rural Development gave a set of data: Judging from the implementation situation, in 40 key cities with a large population inflow, 942,000 affordable rental housing units have been raised in 2021, which is expected to solve the housing difficulties of nearly 3 million new citizens and young people, and a good trend of multi-subject development of affordable rental housing has been initially formed.
From the perspective of supply, affordable rental housing is mainly stock, and Rural collective economic organizations , enterprises, institutions, park enterprises, housing rental enterprises and other entities are still relatively enthusiastic about participating. According to statistics, the affordable rental housing used to build existing land and houses has reached 70%.
sets the tone for affordable rental housing in 2022: continues to vigorously increase the supply of affordable rental housing.
In order to achieve this goal, the Ministry of Housing and Urban-Rural Development has given six major measures, as follows:
First, implement land support policies. The main focus is on five aspects, namely, the use of rural collective commercial construction land, idle land owned by enterprises and institutions, supporting land for industrial parks, existing idle houses and new supply land to build and raise affordable rental housing.
The second is to implement the reconstruction and simplification of the approval process. This is mainly through joint review by governments at all levels, and the relevant departments will speed up the processing in accordance with the project certification.
The third is to implement central subsidies. Last year, the central government subsidized 2.8 billion yuan for 40 cities in the budget investment, and this year it will also increase support for central fiscal subsidies.
Fourth, implement tax and fee preferential policies. Since October 1 last year, it has been implemented that a simple tax calculation method can be applied to rent affordable rental housing for housing rental enterprises to individuals. That is, if the value-added tax was originally levied at a 5% tax rate, it is now calculated at a 1.5% reduction; for enterprises, institutions, and social groups rent affordable rental housing to other organizations, individuals and professional housing rental enterprises, the property tax will be levied at a 4% reduction from 12%.
Fifth, implement water, electricity and gas price policies. For those who use non-residential existing land and non-residential existing houses to renovate and build affordable rental housing, after obtaining the affordable rental housing project certification, the prices of water, electricity and gas will be implemented according to the residents' prices.
Sixth, implement financial policy support. At present, affordable rental housing has been included in the pilot project of real estate investment trust funds in the field of urban infrastructure. At the same time, loans related to affordable rental housing are not included in the management of real estate loan concentration.
Before, affordable rental housing was more like an affiliated role, but now it has gradually become the protagonist of the real estate industry. While increasing supply, the financial problems that have always plagued the development of rental housing are also expected to be completely solved.
htmlOn the afternoon of February 8, the Central Bank of , , , and Banking and Insurance Regulatory Commission, issued the "Notice on the Inclusion of Loans for Affordable Rental Housing in the Management of Real Estate Loans Concentration", increasing support for the development of affordable rental housing.Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center, believes that with the establishment of the housing rental financial system, banks will separately list the loan accounts for housing insurance, and establish completely different loan management systems for such loans in terms of identification, issuance, pricing, and repayment.
03
Urban renewal has become a new economic growth point
Urban renewal, old community renovation, C carbon peak Carbon neutrality, etc. are also key issues in the industry. The Ministry of Housing and Urban-Rural Development has given development ideas in 2022.
first look at urban renewal. According to incomplete statistics, as of the end of 2021, 411 cities across the country have implemented a total of 23,000 urban renewal projects, with a total investment of 5.3 trillion yuan. It not only solves the prominent problems and shortcomings in urban development, but also becomes a new economic growth point.
Regarding how to promote urban renewal work in 2022, Li Xiaolong said that in the next stage, we will promote it from 7 aspects:
, the first is to improve the system. Accelerate the construction of a national urban system, clarify the strategic positioning and core functions of different cities, and promote coordinated regional development.
The second is to optimize the layout. Promote urban group development, carry out urban ecological restoration, and promote the integration and symbiosis between cities and nature.
The third is to improve the function. Accelerate the renewal and transformation of urban infrastructure and public service facilities, improve the urban transportation system, and improve the level of urban services and safety resilience.
is the bottom line of control. Restrict unlimited urban expansion, strictly control the construction of super-high-rise construction, and prevent large-scale demolition and construction.
5 is to improve quality. Strengthen the renovation of old urban communities and the construction of complete residential communities, promote urban aging-friendly construction and renovation of existing buildings and to meet the people's high-quality life needs.
6 is to improve performance. Make full use of the new generation of information technology, accelerate the construction of new urban infrastructure, promote intelligent municipal government, smart community , intelligent construction, and smart urban management, and improve the efficiency and service level of urban operation management.
7 is the way to change. Implement the carbon peak and carbon neutrality goals and tasks in the field of urban and rural construction, change the incremental construction method dominated by real estate, and explore a sustainable urban renewal model guided by the government, operate market and participate in the public.
Regarding old communities, data from the Ministry of Housing and Urban-Rural Development shows that in 2021, 55,600 old urban communities will be renovated nationwide, benefiting 9.65 million residents. From 2019 to 2021, a total of 115,000 old urban communities have been started nationwide, benefiting more than 20 million residents.
Zhang Xiaohong said that in 2022, we will continue to carry out the renovation of old urban communities in a solid and orderly manner, mainly in the following aspects:
First, implement the renovation plan in an orderly manner. We will earnestly grasp the quality of the project and ensure the progress and results of the transformation.
The second is to explore sustainable promotion models. Support local governments to continue to accelerate exploration in promoting the coordinated transformation of neighboring communities and surrounding areas, attracting market forces to participate, raising renovation funds through multiple channels, and improving supporting policies and systems.
The third is to strengthen supervision and guidance. Further improve the mechanism for on-site investigation and assistance guidance, and promptly summarize and promote good experiences, practices and replicable policy mechanisms in various places.
Urban and rural construction is an important area for promoting carbon peak and carbon neutrality. Zhang Xiaohong said that in recent years, relatively significant results have been achieved around green and low-carbon development and improving mandatory standards for building energy conservation. The next development focus includes the following aspects:
First, promoting green and low-carbon construction in cities, including promoting group development, strictly controlling new super-high-rise buildings, building a 15-minute living circle, and accelerating the energy-saving transformation of existing buildings.
Second, build a green and low-carbon countryside. Promote the construction of green and low-carbon rural housing, strengthen the treatment of domestic waste and sewage, and comprehensively promote rural energy conservation and carbon reduction.
Third, strengthen guarantee measures, first, establish a statistical monitoring system for urban and rural construction, and second, build an assessment and evaluation index system.
Also worth mentioning are smart manufacturing and prefabricated construction . Last year, the total output value of the construction industry was 29.3 trillion yuan, an increase of 11% year-on-year. The added value accounted for 7% of the GDP of , providing the society with more than 50 million jobs.
Zhang Xiaohong said that in the next step, we will focus on starting from five aspects, further promote the coordinated development of intelligent construction and new construction industrialization, and promote the transformation and upgrading of the construction industry.
First, implement the pilot demonstration creation action for intelligent construction. The second is to accelerate the promotion of building information model technology. The third is to vigorously develop prefabricated buildings. Fourth, build an Internet platform for the construction industry. Fifth, promote typical application of construction robots.
04
Expert comments
China Index Academy : Strive to play an active role in stabilizing the macro economy Basic market
2022, my country's macro economy faces great downward pressure, and the real estate industry will still play an important role as a stabilizer.
On the one hand, in order to maintain the smooth operation of the real estate market, we will promote the release of reasonable housing demand such as rigidity and improvement through more precise and coordinated regulatory policies and a steady implementation of long-term mechanisms, and achieve the "three stability" goals. expects that the policy efforts of ensuring urgent needs and improving demand in various places are expected to be further followed.
Under the implementation of policies based on the city, some unreasonable or inappropriate policies are expected to be optimized. According to the monitoring data of the China Index, more than 40 cities have introduced real estate-related support policies since the beginning of this year, involving reducing down payments, increasing the provident fund loan quota , and issuing housing purchase subsidies . But it is worth noting that regulatory policies still adhere to continuity and stability, and "stability" is the main tone.
On the other hand, affordable rental housing is the main focus of stabilizing growth this year. is expected to be in 2022, in the context of a significant increase in the scale of affordable rental housing financing, relevant supporting systems will also promote simultaneously, especially the support of financial policies. The promotion of affordable rental housing public offering REITs will help provide enterprises with effective exit channels.
In addition, the renovation of old communities, "new urban construction", construction and renovation of aging-friendly cities are also important areas that drive real estate development investment and infrastructure investment in .
Li Yujia: There will be no new cycle in the future of the commercial housing market
Faced with the problem of great downward pressure on the market, the theme of the real estate market this year is not to strengthen regulation, but to stabilize, combining "guaranteeing the delivery of buildings, protecting people's livelihood and maintaining stability" with the "three stability". In addition, it is proposed for the first time to ensure the basic housing needs and meet the reasonable improvement needs. When the market is down, it is emphasized that it supports improvement-oriented demand. On the one hand, it aims to achieve a virtuous cycle in the market, that is, all kinds of reasonable demands must be met. On the other hand, it also maintains a certain degree of activity in the real estate market through support for improvement and avoids a significant decline.
While commercial housing is stable, the focus of work will be shifted to the supply side, including affordable rental housing, renovation of old communities, major projects for renewal and renovation, and "new urban construction", which are basically on the supply side. Especially for affordable rental housing, this time, it is the same idea as the previous proposal to put it on the focus of the 14th Five-Year Plan.
In the future, there will be no new cycle in the commercial housing market. 's tool to stabilize growth is not real estate, but new city construction, supply-side reform, and the resulting housing consumption. Real estate has fully returned to consumption and the real economy. The supply-side reform actually conforms to the consumption capacity and demands of the current main force of consumption, namely the consumption capacity and demands of new citizens, young people, and vulnerable urban groups. Real estate has shifted to reducing costs across the board. Even if commercial housing is to be stabilized, housing price control is still strict and no significant increase will occur. Therefore, if the relief policies in some cities turn to rescue the market, they will inevitably lead to accountability and re-correction.
Senior analyst Pan Hao of Shell Research Institute: Real estate companies are still the main body of "guaranteeing the delivery of buildings"
Since the second half of 2021, sales slowdown, narrowing financing, and stricter supervision have led to a sharp increase in the capital flow pressure of some real estate companies, and some real estate companies even show signs of "staying in peace" under multiple pressures. The Ministry of Housing and Urban-Rural Development’s statement this time emphasized “consolidating the main responsibility of enterprises”. Real estate companies are still the main body of “guaranteeing and subsidizing buildings”. Since the fourth quarter of last year, financial institutions have initiated the support of resource restructuring in the real estate industry through “mergers and acquisitions loans/bonds”, revitalizing the available resources of risky real estate companies, and continuously solving the financial pressure faced by the industry as a whole, and avoiding individual companies choosing to “lie down” to affect people’s livelihood and create unstable factors.
In addition, it also requires "implementing the management responsibilities of local governments". The national supervision and management measures for pre-sale funds issued in the early stage unify the standards for pre-sale funds management. On the one hand, it grants local governments management authority, and on the other hand, it avoids too loose or too tight and unstable policies that make it difficult for enterprises to manage their own funds.
In summary, enterprises will still assume their main responsibilities, and at the same time, they need support from policies, finance, peers and other aspects to jointly ensure the realization of the goal of "guaranteeing the delivery of buildings, protecting people's livelihood, and maintaining stability".
The Ministry of Housing and Urban-Rural Development’s statement this time emphasized “consolidating the main responsibility of enterprises”. Real estate companies are still the main body of “guaranteeing and subsidizing buildings”. Since the fourth quarter of last year, financial institutions have initiated the support of resource restructuring in the real estate industry through “mergers and acquisitions loans/bonds”, revitalizing the available resources of risky real estate companies, and continuously solving the financial pressure faced by the industry as a whole, and avoiding individual companies choosing to “lie down” to affect people’s livelihood and create unstable factors.In addition, it also requires "implementing the management responsibilities of local governments". The national supervision and management measures for pre-sale funds issued in the early stage unify the standards for pre-sale funds management. On the one hand, it grants local governments management authority, and on the other hand, it avoids too loose or too tight and unstable policies that make it difficult for enterprises to manage their own funds.
In summary, enterprises will still assume their main responsibilities, and at the same time, they need support from policies, finance, peers and other aspects to jointly ensure the realization of the goal of "guaranteeing the delivery of buildings, protecting people's livelihood, and maintaining stability".
