On the morning of October 17, the Information Office of the State Council held a press conference, at which the relevant persons in charge of the Ministry of Housing and Urban-Rural Development and other departments introduced the relevant situation of promoting the steady and healthy development of the real estate market.
The Ministry of Housing and Urban-Rural Development said
The CPC Central Committee attaches great importance to the steady and healthy development of the real estate market. On September 26, the meeting of the Political Bureau of the Central Committee emphasized that it is necessary to promote the real estate market to stop falling and stabilize, strictly control the increment, optimize the stock, and improve the quality. It is necessary to respond to the concerns of the masses, pay close attention to improving land, fiscal and taxation, financial and other policies, and promote the construction of a new model of real estate development. On September 29, the State Council held an executive meeting to study and deploy specific implementation work.
The Ministry of Housing and Urban-Rural Development, in conjunction with the Ministry of Finance, the Ministry of Natural Resources, the People's Bank of China, the State Administration of Financial Supervision and other departments, will guide all localities to act quickly, grasp the implementation of stock policies, grasp the introduction of incremental policies, and play a set of "combination punches" to promote the market to stop falling and stabilize.
How do you fight a "combination punch"?
To sum up, it is four cancellations, four reductions, and two increases.
Four cancellations:
It is to fully give the city government the autonomy to regulate and control, and the city government should adjust or cancel all kinds of restrictive measures for housing purchase according to the city's policies. It mainly includes the cancellation of purchase restrictions, the cancellation of sales restrictions, the cancellation of price restrictions, and the cancellation of ordinary residential and non-ordinary residential standards.
Four reductions:
- The interest rate on housing provident fund loans was reduced by 0.25 percentage points;
- Reduce the down payment ratio of housing loans, and unify the minimum down payment ratio of one and second home loans to 15%;
- Lowering interest rates on existing loans;
- Reduce the tax burden of "selling the old and buying the new" in exchange for housing.
Through the implementation of these policies, the cost of housing purchase will be reduced, the pressure of loan repayment will be reduced, and the demand for rigid and improved housing will be supported.
Two additions:
First, through monetization and resettlement, an additional 1 million units of urban villages and dilapidated houses will be renovated. There are many hidden safety hazards and poor living conditions in urban villages, and the masses are eager to renovate. According to relevant surveys, in 35 large cities in the country alone, there are 1.7 million sets of urban villages that need to be renovated, so from the perspective of other cities in the country, this amount will be very large, and it can also be said that other cities also have the need for transformation. We have also done a survey of 500,000 dilapidated houses in cities across the country that need to be renovated. The new implementation of 1 million sets proposed this time is mainly for projects that are relatively mature and can be done in advance by increasing policy support. This time, the main way of monetized resettlement is adopted, which is more conducive to the masses to choose the right house according to their own wishes and needs, reduce or do not need to transition outside, and can directly move into the new house. At the same time, it is also conducive to the digestion of the stock of commercial housing.
The second is to increase the credit scale of "white list" projects to 4 trillion yuan by the end of the year. The urban real estate financing coordination mechanism should strive to include all qualified real estate projects in the "white list", and should make every effort to meet the reasonable financing needs of the project.
Since the release of relevant policies, the effect of the policy has begun to appear, real estate development investment, new commercial housing sales and other major indicators of decline continued to narrow, especially since the end of September, the number of first-hand house visits, visits, and contracts has increased significantly, the number of second-hand housing transactions has continued to rise, and the market has seen positive changes. According to media reports, real estate policy support in many places has increased, and the property market in first-tier cities has recovered across the board. In the next step, the Ministry of Housing and Urban-Rural Development will work with relevant departments to resolutely implement the decisions and arrangements of the Party Central Committee and the State Council, implement them one by one, fully release the policy effects, and benefit the people more.
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Source: Chinese government website, People's Daily, Xinhua News Agency, Hangzhou
Compiled and distributed by Shaoxing News and Media Center