Entering 2020, in addition to the central bank giving the financial market a big gift to reduce the reserve requirement ratio on New Year's Day, there is another place that has sent home buyers a subsidy package.
1 On November 1, Fushun Media (official WeChat account of Fushun County Radio and Television Station, Zigong City, Sichuan Province) sent a message saying that in the first half of this year, there will be financial subsidies for purchasing new commercial housing in the Fushun County urban planning area, with the subsidy amount of 200 yuan per square meter.
Some institutional statistics show that the total number of real estate regulation nationwide in 2019 was as high as 620 times, with a year-on-year increase of as high as 38%.
Industry insiders believe that 2019 is the policy year for the national real estate market and it is also the year when the policies are implemented based on cities are clearest. This year, real estate regulation in various places aims to "stabilize housing prices, stabilize land prices, and stabilize expectations", and has introduced regulatory policies with different strengths and directions. It is expected that the overall tone of the property market regulation policy in 2020 will not change, but the specific policy choices and local implementation tightness will change.
Fushun County’s first half of the year will receive subsidies for new houses in Fushun County
htmlOn November 1, Fushun Media reported that in the first half of this year, there will be financial subsidies for purchasing new commercial housing in Fushun County’s planning area, and attached with the “Implementation Rules for Financial Subsidies for Purchasing Commercial Housing in Fushun County” (hereinafter referred to as the “Rules”) issued by Fushun County Housing and Urban-Rural Development Bureau.The "Detailed Rules" stipulate that from January 1, 2020 to June 30, 2020, residents who purchase new commercial housing in the Fushun County urban planning area will be given a one-time financial subsidy of 200 yuan/square meter. The subsidy area shall be subject to the area issued by the " Real Estate Certificate ".
The "Detailed Rules" emphasize that buyers who purchase commercial housing in the county planning area can apply for financial subsidies. Buyers who purchase pre-sale commercial housing (pre-sale houses) and newly built commercial housing (current houses) in the county planning area shall verify the online registration time for handling the " Commercial Housing Sales Contract ". If the "Commercial Housing Sales Contract" registered before January 1, 2020 is re-registered after revocation, any re-registered commercial housing and the previously revoked contract belong to the same commercial housing, will not be included in the scope of financial subsidy for housing purchases. Buyers who purchase second-hand houses do not enjoy financial subsidies for buying a house.
According to the "Detailed Rules", buyers who meet the conditions for financial subsidies for housing purchases shall apply to the real estate development company that purchased the housing within 3 months after obtaining the "Real Estate Certificate". The real estate development company shall apply for financial subsidies for housing purchases from the county real estate registration center. If the application is not applied for within the deadline, it will be deemed to be automatically given up and will not be reissued.
The "Detailed Rules" also require that real estate development companies shall not take the opportunity to raise prices, raise prices in the real estate market, and relevant departments will conduct serious investigations and punishments on violations such as housing prices. Real estate development companies can voluntarily participate in the implementation of housing purchase discounts equal to the financial subsidy standards, and make clear and informed when purchasing a house.
It is understood that Fushun County is affiliated to Zigong City, Sichuan Province, located in the southern edge of the Sichuan Basin and the lower reaches of the Tuojiang River. As of the end of 2017, Fushun County had a registered population of 1.0756 million; the permanent population was 773,900. In 2017, Fushun County achieved a regional GDP of 26.816 billion yuan, an increase of 9.0% over the previous year at comparable prices. Yan Yuejin, research director of the think tank center of the E-House Research Institute, believes that the policy starting point of this issue of housing purchase subsidies in Zigong City, Fushun County, Sichuan Province is to fully implement the content of implementing policies based on the city. In the current situation where the housing transaction market is slightly weak, Fushun's policies represent some cities with renewed inventory and a depressed trading market. Practices similar to financial subsidies have given home buyers more benefits and have a positive effect on boosting real estate transactions. The regulation that only by buying a house in the first half of the year will objectively bring about a wave of trading trends. At the same time, it is stipulated that the re-registration of check-out projects and second-hand housing projects cannot enjoy subsidies, mainly to stimulate new house transactions and benefit real estate companies. In addition, compared with real estate companies' price reduction promotions, local governments' practices of financial subsidies also reflect the government's orientation of encouraging residents to buy houses, which helps boost market confidence. It is expected that other cities, especially those with high inventory, may also open a window to "stimulate the real estate market with fiscal subsidies."
20 national real estate regulation in 2019
In fact, many places have also issued subsidy policies related to home purchases last year.As Hohhot stipulates, graduates with bachelor's degree or above can buy a house at half price; Ningbo has introduced policies to provide a maximum subsidy for buying a house of 600,000 yuan for high-level talents.
"In October and November 2019, many provinces, autonomous regions and municipalities across the country have successively stimulated rigid demand to enter the market by increasing housing purchase subsidies, adjusting tax policies, and requiring provident fund to reduce down payments." Yan Yuejin said that for individuals who purchase first commercial housing or second-hand housing under 90 square meters, they will be given a 100% subsidy for individuals who purchase first commercial housing or second-hand housing under 90 square meters and purchase first commercial or office space under 144 square meters and purchase less than 300 square meters for business or office space for entrepreneurship, a 50% subsidy for individuals who purchase first commercial housing or second-hand housing under 90 square meters and purchase less than 144 square meters and purchase less than 300 square meters for business or office space for entrepreneurship will be given a 50% subsidy for individuals. From October 17, 2019 to November 20, 2019, if an individual pays deed tax for purchasing newly built commercial housing or second-hand housing, the municipal finance will provide housing subsidies at 100% of the deed tax paid.
In addition, on December 25, 2019, Wenzhou City issued the new housing policy for talent with the widest coverage. Excellent undergraduates who meet the conditions will receive a 30% discount on buying a house and a 30% discount on renting a house, which is unprecedented.
Statistics of the Central Real Estate Research Center show that the total number of real estate regulation nationwide in 2019 reached 620 times, setting a new historical record, with a year-on-year increase of as high as 38%. In the fourth quarter of last year, it became the most intense range of real estate regulation throughout the year, with a total of up to 205 regulation times. Zhang Dawei, chief analyst of Centaline Property, believes that 2019 is the policy year for the national real estate market and it is also the year when the policies are implemented based on cities. This year, real estate regulation in various places aims to "stabilize housing prices, stabilize land prices, and stabilize expectations", and has introduced regulatory policies with different strengths and directions.
"From a national perspective, the frequent talent policies are the biggest feature of the real estate market policy in 2019. The talent policies of most cities are related to housing policies. In 2019, more than 170 cities across the country issued various talent policies, a year-on-year increase of more than 40%, attracting talents has become the main policy content of urban competition." Zhang Dawei said that in November 2019, nearly 10 cities such as Foshan, Nanjing, Shanghai, Chengdu, and Zhongshan issued content related to talent purchase qualifications and housing purchase subsidies.
Regarding the policy outlook for 2020, , director of the Center for Urban and Competitiveness Research of Chinese Academy of Social Sciences, , Ni Pengfei, , said in an interview with the Securities Times reporter that the overall tone of the property market regulation policy this year will not change, but the specific policy choices and local implementation will change.
First, the regulatory policies will be further improved and mechanismed. For example, a national monitoring and supervision system for housing, land and finance will be basically established, a linkage mechanism for housing, land and finance will be improved, and a regulatory mechanism for "regulating policies based on cities" will be explored.
Second, the regulatory policy will be fine-tuned according to the time and place. On the one hand, there will be more adjustments to the differentiation and changes in markets in different regions, and the policies issued by different regions will be implemented according to the city. On the other hand, due to short-term market fluctuations, the tight rhythm of real estate finance and land regulation policies will also change accordingly.
Third, the policy of "supporting and suppressing speculation" is also put in place. The comprehensive and accurate policy meaning of "housing for living, not for speculation" is to support the two aspects of "housing for living" and suppress "speculation". After the "speculation" is suppressed, reasonable rigid demand, improved demand and reset demand should be supported. Therefore, for the past policies that accidentally injured reasonable demand due to suppressing "speculation", as the market environment stabilizes, the housing market regulation policies will be improved, and corrections and adjustments will be made in the future.
