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All policy measures must be coordinated and sustained to boost market confidence and consumption expectations as soon as possible.
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"Four cancellations, four reductions, and two increases", the highly anticipated property market "combination punch" is coming.
On October 17, the Information Office of the State Council held a press conference, at which Ni Hong, Minister of Housing and Urban-Rural Development, and responsible persons of the Ministry of Finance, the Ministry of Natural Resources, the People's Bank of China, and the State Administration of Financial Supervision and Administration introduced the relevant situation of promoting the stable and healthy development of the real estate market. According to the press conference, the Ministry of Housing and Urban-Rural Development, in conjunction with relevant 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.
The Politburo meeting held last month stressed the need to promote the real estate market to stop falling and stabilize. The relevant departments immediately introduced a series of policies in the areas of finance, taxation and finance, and various localities also canceled or reduced the purchase restriction measures according to the city's policies, and the market showed obvious signs of recovery. Since the end of September, the number of first-hand house visits, visits, and contracts has increased significantly, and the number of second-hand housing transactions has also continued to rise. This shows that the direction of the policy is right, and it also accumulates confidence and strengthens the determination for the continued expansion and strengthening of the policy in the later period.
The conference launched a series of new "combination punches", which is a continuation and afterburner of the previous incremental policy, and once again shows the determination to stabilize the property market. This can be called "timely rain" to consolidate the effect of the previous policy and continue to strengthen the society's expectation of real estate to stop falling and stabilize.
In terms of specific content, the new policy once again reflects the characteristics of coordinated efforts. For example, on the demand side, it is clear that 1 million new units of urban village renovation and dilapidated housing will be renovated through monetized resettlement housing, which will directly affect the destocking of the real estate market. On the supply side, it is clear that the credit scale of "whitelist" projects will be increased to 4 trillion yuan by the end of the year, all loans for commercial housing projects will be included in the white list, and qualified projects will be "fully advanced", approved loans will be "fully loaned", and funds will be allocated "as soon as possible".
This will effectively meet the reasonable financing needs of real estate enterprises, help the stability of real estate development, and provide real money support for the promotion of "guaranteed delivery of buildings".
The press conference made it clear that most of the existing mortgage interest rates will be reduced in batches on October 25, and the results can be viewed on October 26, and all will be completed before the 31st. This means that there is a formal timetable for the adjustment of the interest rate of existing housing loans, which can not only effectively reduce the pressure of home buyers to repay the loan, but also work together with the previous measures such as reducing down payments and canceling or relaxing purchase restrictions to help release more demand for home purchases.
To promote the real estate market to stop falling and stabilize, it is not only the adjustment of volume and price, but also the basis of accelerating the construction of a new model of real estate development. This includes increasing the construction and supply of affordable housing, supporting the needs of urban and rural residents for improved housing, and better meeting the housing needs of different groups. The press conference made it clear that the acquisition of stock commercial housing with special bonds as affordable housing shall be implemented by local independent decision-making and voluntariness.
Whether the house can be received in time after buying a house, and whether the quality of the house is guaranteed, is also a practical issue that affects the confidence of home buyers in recent years. The press conference made it clear that for the battle to ensure the delivery of housing, the "white list" will be grasped with one hand to solve the problem of project construction funds; Grasp the progress of the project with one hand, and promote it in accordance with the principle of marketization and rule of law, "one floor and one policy", and promote it by classification. This will not only reassure buyers who are waiting for the delivery of the property, but also lay a solid foundation of trust for expanding the incremental consumption space of the property market.
Real estate is a pillar industry related to the national economy and people's livelihood, which is connected to people's livelihood and development. This complexity determines the importance of the real estate market to stop falling and stabilize, and it also means that after three years of in-depth adjustment, the property market must return to a healthy and stable development track, and all aspects of policy measures must work together and continue to boost market confidence and consumer expectations as soon as possible.
The market has begun to bottom, and the Ministry of Housing and Urban-Rural Development has judged that "the data in October will be positive and optimistic". Let's wait and see.
Edited by Gan Qiongfang
Typesetting|Gan Qiongfang
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