Shanghai, Shenzhen and other places have recently introduced a new round of property market regulation and control policies, aiming to curb”house grabbing” through measures such as increasing transaction costs and increasing supply in order to stabilize housing prices and stabilize expectations. Industry insiders predict that this move may be followed by some hot cities in order to consolidate the results of the previous property market regulation. Under the tone of”housing to live without speculation”, continued policy increases will further curb speculation and strengthen expectations for maintaining the stability of the property market.
The background of this round of property market regulation measures is the continuous release of housing demand and the weakening of the effectiveness of regulation 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 past two years, major cities have successively introduced policies for the introduction of talents, which has increased the demand for local housing purchases. In some areas, new houses and second-hand houses are price upside down, and the mentality of”buy is earn” stimulates some irrational demand.
In this round of property market control policies in Shanghai, Shenzhen and other places, on the one hand, we should start from the demand side and”patch” the purchase restriction and loan restriction policies to curb”new wave”. For example, Shanghai proposed to increase the VAT exemption period from 2 years to 5 years for individual external sales of housing, and increase the cost of second-hand housing transactions. Shenzhen requires strict review of housing qualifications, and 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 certification, credit report The source of the purchase price and the bank statement of the past one year or more, and the”home purchase intention registration system” has been launched.
On the other hand, from the supply side, this round of regulation and control policies emphasizes increasing supply. For example, Shanghai proposes to start with”increasing the supply of commercial housing land, especially in the suburban rail transit stations and the five major new cities” and”persisting in both rent and purchase.” In terms of land market management, Shanghai proposed to”adhere to the linkage mechanism of real estate and land, guide enterprises to acquire land rationally, and stabilize land prices.”
In general, the property market in 2021 does not have an overall overheating basis, and the possibility of a sharp rise in housing prices is also small. It will be the norm for individual hot cities to regulate and control, which is also the meaning of the city-specific policy. Some hot second-tier cities are more likely to follow up with additional regulatory policies. The focus is still on improving the”restricted purchases, loans, and sales” policies, and increase transaction costs from the transaction link, and increase land from the supply link. Common property housing and other housing supply. More importantly, the regulatory authorities should focus on strengthening market expectations and guidance, and guide reasonable housing consumption by strengthening market order monitoring, cracking down on market rumors, and regulating the behavior of intermediary agencies.