Daily Real Estate Industry News Summary (2024-10-15)

Mini Program: Daily Real Estate Industry News Summary

1. Sales restrictions have been lifted for new home purchases in Chengdu; if you get a license, you can go public and trade

Chengdu issued a notice on policies to promote the steady and healthy development of the real estate market. It is mentioned that newly purchased commercial housing (other than targeted sales projects) and second-hand housing within the scope can be listed and traded after obtaining a “Real Estate Property Rights Certificate”. Housing that had previously been included in the scope of retransaction management is still implemented in accordance with the original policy. Newly purchased commercial housing is based on the online signing and filing time, and newly purchased second-hand housing is based on the real estate transfer registration time. (Published in Chengdu)

2. Shenzhen's new property market policy is gaining strength. Since October, the average daily sales volume of second-hand housing has reached a new high in nearly four years

According to monitoring by the Shenzhen Shell Research Institute, as of October 13, the average number of second-hand housing contracts in Shenzhen since October was the highest level since this year, and the highest in nearly four years. Specifically, from October 1 to 13, the average number of second-hand housing contracts signed per day in Shenzhen increased by 182% compared to September. Compared with March, May, and June, when transactions were quite popular this year, the increases were also very significant, at 86%, 145%, and 107%, respectively. (China Securities Taurus)

3. The number of second-hand housing units signed online in Shanghai reached 1,334 on October 13, a single-day high since September last year

On October 13, the number of second-hand housing units signed online in Shanghai reached 1,334, a single-day high since September last year. Since the National Day holiday, second-hand housing transactions in Shanghai have continued to be high. Based on online signing data, a total of 6412 units were sold in Shanghai in a single week from October 7 to October 13, with an average of more than 900 units per day. (China Securities Taurus)

4. Beijing: Launching pilot work to improve the quality and efficiency of housing provident fund personal housing loan services

The Beijing Housing Provident Fund Management Center issued the “Notice on Launching Pilot Work to Improve the Quality and Efficiency of Housing Provident Fund Personal Housing Loan Services”: Beijing will launch a pilot project to improve the quality and efficiency of loan services to further improve the service experience and enhance service efficiency by improving the quality of service models, streamlining the efficiency of business materials, and optimizing the acceleration of business processes. The Provident Fund Center added three new convenience service models for provident fund loans: “branch acceptance, same-day processing”, “online application, on-site contract signing”, and “entrustment, no need to run”, and launched a pilot project.

5. Weifang, Shandong: Select government guaranteed housing buyers to buy suitable existing commercial housing for affordable housing

Recently, five departments including the Housing and Construction Bureau of Weifang City of Shandong Province jointly issued the “Notice on Further Optimizing and Adjusting Real Estate Related Policies”. The new policy focuses on strictly controlling growth, optimizing stocks, and improving quality, and proposes ten measures to stop the decline and stabilize the real estate market. Reasonably control the supply of new commercial residential land, and suspend land supply for counties, cities, and development zones where the commercial housing removal cycle exceeds 36 months. If the removal cycle exceeds 18 months, the supply of land is restricted, and the area of newly sold commercial residential land is determined dynamically according to the principle of “how much to revitalize and how much to supply” and based on the existing commercial residential land area completed and taken back during the year. Support all counties, cities, and development zones to actively seek the national affordable housing reloan policy, select 1-2 government affordable housing buyers, carefully map out the minimum demand base for affordable housing and the stock of commercial housing already built, and purchase existing commercial housing stock for use as affordable housing with suitable apartment size, suitable price, and suitable location. (Exciting)

6. After the announcement of a number of financial policies to support real estate, such as reducing interest rates on existing mortgages and unifying down payment ratios for mortgages, the phenomenon of early repayment of loans by residents has decreased recently

The reporter learned from an authoritative source that expectations in the real estate market have improved, and recently the phenomenon of early repayment of mortgages by residents has decreased. After the announcement of a number of financial policies to support real estate, such as reducing interest rates on existing mortgages and unifying down payment ratios for mortgages, the number of real estate visitors and subscriptions rose marginally in most first-tier cities, and the number of cases where residents repay their mortgages early has decreased. The Shenzhen branch of a major state-owned bank reported that since September 25, the average daily number of applications for early repayment of personal mortgages has dropped 60% from the average daily level in early to mid-September. (One fortune)

7. China Index Research Institute: New housing sales in Hangzhou increased 187% during the “11th Golden Week”

According to data from the China Index Research Institute, during the “11th Golden Week” in 2024, 8 projects were opened in Hangzhou, and 569 new homes were sold, with a transaction area of 85,000 square meters, an increase of 187% over the “National Day” period in 2023. In terms of second-hand housing, the number of visitors during the “National Day” period exceeded 120,000, up 6.6% from the week before the holiday, reaching 61.9% increase over the “National Day” period in 2023. Second-hand housing units sold 377 units, an increase of 8.9% over last year's “National Day Week” period.

8. Ningde, Fujian: Cancelling restrictions on commercial housing listings; purchasing commercial housing can coordinate arrangements for children to enroll in school

The Housing and Urban-Rural Development Bureau of Ningde City, Fujian Province issued “Certain Measures to Promote the Healthy Development of the Housing Market”. The “Measures” clearly abolish restrictions on commercial housing listings, and commercial housing (including second-hand housing) within the central urban area of Ningde can be listed and traded after obtaining a real estate title certificate. At the same time, the “Measures” suggest optimizing commercial loan policies. Buyers can choose a “loan without approval” or “home approval without loan” commercial loan policy according to their own actual situation, and various banking institutions will support them. It is worth mentioning that on the same day, Ningde City also issued “Certain Measures to Promote the Healthy Development of Commercial Commercial Housing”, which clearly states that for owners who have newly purchased first-hand commercial office real estate and obtained real estate rights of not less than 30 square meters, the county (city, district) level education administration department is responsible for coordinating the enrollment of school-age children in the first grade of compulsory education. The “Measures” are implemented from the date of promulgation and are valid for three years.

9. Industry insiders: Stock mortgage interest rate adjustments are progressing in a steady and orderly manner

According to data obtained by the central bank, the interest rate for newly issued personal housing loans was about 3.32%, about 2 basis points lower than the previous month, and 78 basis points lower than the same period last year. Interest spreads between old and new mortgages have increased cumulatively again. In response to public concerns, on September 29, the People's Bank of China issued a notice to guide commercial banks to once again lower interest rates on existing commercial personal housing loans and further improve the interest rate pricing mechanism for personal housing loans. How is the policy being promoted so far? What impact does this policy have on all sectors? The reporter learned from many sources that related work is progressing in a steady and orderly manner. (Financial Times)

10. Chongqing: The maximum personal loan amount for the Housing Provident Fund was raised from 500,000 yuan to 800,000 yuan

Chongqing optimizes and adjusts the housing provident fund personal housing loan policy: the maximum loan amount for housing provident fund individuals was raised from 500,000 yuan to 800,000 yuan; the maximum loan amount for families with many children was raised from 1 million yuan to 1.2 million yuan; the maximum loan amount for families with many children was raised from 600,000 yuan to 1 million yuan, and the maximum loan amount for families after participating in the loan was raised from 1.2 million yuan to 1.6 million yuan. If a housing provident fund depositor buys a second home and applies for a housing provident fund personal housing loan, the minimum down payment ratio is 20%.

11. Country Garden: The sales target completion rate during the National Day was 123%, and the average daily routine subscription increased by 34% compared to the May 1st period

At the Country Garden Group internal management meeting held on October 14, Yang Huiyan, chairman of the Group's board of directors, gave an in-depth interpretation and analysis of the recent real estate market situation, and clarified the company's key work directions for the next phase, requiring all employees of the company to confidently promote key tasks such as housing security, asset management, and effective sales. Country Garden's sales target completion rate during the National Day Golden Week was 123%, and the average daily subscription rate was 34% higher than during the May 1st period.

12. Guangxi's first “housing supermarket” launched in Nanning

According to the Nanning Housing and Urban-Rural Development Bureau, Guangxi's first “housing supermarket”, developed and built under the guidance of the bureau and developed by the Yongyoujia platform, was officially launched in September this year and is open for use by the general public in Nanning. The “Real Estate Supermarket” integrates the listing information of all newly built commercial houses and properties currently on sale in Nanning, so that buyers can browse and compare the listing conditions of different properties in one “supermarket”. A number of home buying sectors have been set up in Nanning, such as new housing, “trade-in”, buying and renting a house into the community, housing ticket placement, and buying a house in France.

13. Baotou, Inner Mongolia: The maximum loan amount for the Housing Provident Fund was raised to 1.2 million yuan

Recently, four departments of the Baotou Housing and Construction Bureau, the Municipal Natural Resources Bureau, the Municipal Education Bureau, and the Municipal Finance Bureau of Inner Mongolia Autonomous Region jointly introduced a series of policies to boost market confidence and promote the steady and healthy development of real estate. In terms of home purchase loans and housing purchase concessions, in order to reduce the financial burden on buyers and improve the efficiency of using the Provident Fund, Baotou City adjusted the loan amount of the Housing Provident Fund. The maximum loan amount for single-party housing deposit was raised from 600,000 yuan to 700,000 yuan, and the maximum loan amount for joint deposit between husband and wife was raised from 1 million yuan to 1.2 million yuan. At the same time, it is allowed to withdraw the housing provident fund to pay the down payment when buying a home, which greatly enhances the buyers' ability and convenience to buy a home.

14. The maximum loan amount was raised to 1.2 million yuan, and the Chengdu Housing Provident Fund issued five important support policies

The Chengdu Housing Provident Fund Center issued a notice to adjust the Chengdu Housing Provident Fund loan and withdrawal policy, involving five important support policies, including increasing the maximum loan amount and commercial conversion. These policies will now be officially implemented. Among them, this policy adjustment comprehensively raised the maximum loan amount for single and double depositors, including 600,000 yuan for single depositors and 1 million yuan for double depositors. At the same time, the difference in the amount of the original double depositor's first two housing units was abolished, and the standard of 1 million yuan was uniformly implemented. For families with many children and “trade-in” home purchases, the loan amount can rise by 20%, up to 1.2 million yuan, to support the general public's demand for rigid and improved housing, and strongly relieve the pressure to buy a home. (Published in Chengdu)