Tuesday, February 2, 2016

Threshold for home buyers fell to a record low Unlimited purchase of city business

Chinese buyers buy threshold be lowered again.

February 2, people's Bank of China, China banking supervision Management Committee released on adjustment personal housing loan policy about problem of notification, notification provides, in not implementation "limited purchased" measures of city, residents family first purchase general housing of commercial personal housing loan, in principle minimum first payment proportion for 25%, around can down floating 5%; on has 1 sets housing and corresponding purchase loan not settled of residents family, To improve living conditions for personal commercial housing loan to buy homes again, minimum down-payment ratio is not less than 30%.

This means that non-restriction of the city first home down payment can reach a minimum of 20% while in the first set of loans did not settle cases, second threshold is reduced to 30%, and before that the ratio is 40%.

Eight years after reproducing 20% down payment

Habitat yi said Yang Hongxu, Deputy Director of the Institute, it also means real estate down payment dropped to historic lows.

End of 2008, in order to promote the development of the property market, major commercial banks started their own house down payment, down to 20%. Secondary drive the biggest rat Chen Zhimin 6

E-House Research Institute think-tank, Center Director Yan Yuejin said: the new policy, implemented since 2015 inventory policy.

From the perspective of market expectations, which can shake the stock market trick but is lending policies of commercial banks continued to unwind. Because from the perspective of many policies, including housing fund policy, in fact, are already at the bottom. Interest rates basically at a relatively loose policies. Lending policies of commercial banks to relax space has remained high. The policy for housing and improving housing group, has a positive effect.

Vice President, Metro holdings, Jie said this in non-restriction of the city, the bank reduced down payments, the main objective is to lower the threshold for the purchase of these cities, increased demand. But the situation is different in non-restriction of the cities, such as Nanjing, Hefei is non-restriction of the city, but not a high inventory, reduced down payments will no doubt accelerate sales, pushing up prices.

High inventory of cities, in addition to reducing the down payment, you also need to control the supply of land. As regards investment, developers will not lower down payments, blindly increasing investment in non-restriction of the city, in conjunction with inventory, will be adjusted accordingly.

High inventory city cautiously optimistic

Inventory number of larger cities, local real estate professionals welcomed the policy, but they also believe that, due to the large inventory pressures, policy will not soon emerge.

Some real estate enterprises of Chongqing Marketing Director said, for second-tier cities such as Chongqing, supply and inventory is too large down payment lower will not have much impact on the market, not too big waves. Midland Realty Managing Director of Chongqing Miao Hongyu said this policy was to inventory the city is a good thing, will stimulate part ahead just entering the market, but this is a good medium-term and short term effects are not immediately apparent, "should be considered General. "A Deputy General Manager of the real estate enterprises in Wenzhou, suites, two suites downpayments lower of Wenzhou three or four cities to inventory pressure so is good, volume amplification, prices rise steadily.

Wenzhou Agency Chief also said a series of bailout measures are support to inventory, the down payment lower, the market will have a good, but not so fast, the effect will not be very obvious.

First-tier cities policy hard to relax

It is worth noting the relaxation aimed primarily at non-purchase of city. Up to now, 46 purchase of city in the country, just north of guangshen four in first-tier cities and Sanya did not cancel the purchase.

On January 18, NBS December 2015 residential sales prices in 70 major cities: new housing (excluding housing) prices per cent (compared with the previous month), fall city, 27, Rose City, 39 (from November 6); and the same month last year (per cent), compared with the rise in house prices in 21 cities. First-tier cities prices rallied sharply. Shenzhen ranked first in growth rankings, is 47.5%. Followed by Shanghai, prices rose 18.2%; Beijing figures for up 10.4% Guangzhou home prices rose 9.2%.

Shanghai Zhongyuan research and consulting Senior Manager, Carol Gong said: from the new deal to the city limit, restriction of urban exclusion means that Shanghai is not within the scope of, and in January from Shanghai volume record in the same period, record-high price situation is not much need for further policy stimulus, so can say no effect on Shanghai. First-tier cities, three or four tier high stock and flow sufficiently attractive to make three or four cities still have to rely on credit policy.

At present, the city has yet to see signs of a canceled the purchase.

On January 24, the Beijing Mayor Wang anshun, "said controlling prices is one of the issues I care most, can't Center under construction, prices came whirring. "Wang anshun said restrictions will persist.

On January 29, Mayor of Shanghai, Yang said, "Shanghai still adhere to today's regulation policy is primarily the purchase."

Compared to Beijing, Shanghai, Guangdong provincial Department of housing and urban-rural construction Party Secretary, Wang Peng, Director of the media express, Guangdong Province, is being prepared to report housing security, and work to promote housing consumption recommendations, has not yet reported to the provincial government. He said Guangdong will cancel the purchase limit credit control policy, but it is not mandatory, especially for big cities like Guangzhou, Shenzhen, and specific policies by local governments in accordance with the market make judgments.