Mini Program: Daily Real Estate Industry News Summary
1. National Bureau of Statistics: Optimistic about the real estate market in the later stages. New housing sales increased 102% year on year during the 11th Golden Week, and second-hand housing sales increased 105% year on year
“With the introduction and implementation of a package of real estate policies, we are optimistic about the real estate market in the later stages.” Sheng Laiyun, deputy director of the National Bureau of Statistics, said at the press conference of the State Information Office on the 18th that the National Bureau of Statistics conducted a survey of real estate agencies in 70 large and medium-sized cities, and the number of real estate workers optimistic about the real estate market in the fourth quarter increased significantly compared to last year. Looking at the 11th Golden Week, the volume of new housing sales increased by 102% year on year, and the volume of second-hand housing increased by 105% year on year. (Ticket Office)
2. National Bureau of Statistics: Sales prices of newly built commercial homes in first-tier cities fell 0.5% month-on-month in September
In September, sales prices of newly built commercial residential homes in first-tier cities fell 0.5% month-on-month, an increase of 0.2 percentage points over the previous month. Among them, Beijing, Guangzhou and Shenzhen declined by 0.7%, 0.9%, and 1.0%, respectively, while Shanghai rose 0.6%. The sales price of newly built commercial residential homes in second-tier cities fell 0.7% month-on-month, the same decline as last month. Sales prices of newly built commercial residential homes in third-tier cities fell 0.7% month-on-month, and the decline was 0.1 percentage points narrower than the previous month. In September, second-hand residential sales prices in first-tier cities fell 1.2% month-on-month, an increase of 0.3 percentage points over the previous month. Among them, Beijing, Shanghai, Guangzhou and Shenzhen fell 1.3%, 1.2%, 1.1%, and 1.3%, respectively. Second-hand residential sales prices in second-tier cities fell 0.9% month-on-month, and the decline was 0.1 percentage points narrower than the previous month. Second-hand residential sales prices in third-tier cities fell 0.9% month-on-month, the same decline as last month.
3. National Bureau of Statistics: In January-September, the sales area of newly built commercial housing was 702.84 million square meters, a year-on-year decrease of 17.1%
According to data from the National Bureau of Statistics, in January-September, the housing construction area of real estate development enterprises was 715.9.68 million square meters, a year-on-year decrease of 12.2%. Among them, the residential construction area was 5010.51 million square meters, a decrease of 12.7%. The new housing construction area was 56.51 million square meters, a decrease of 22.2%. Among them, the new residential construction area was 407.45 million square meters, a decrease of 22.4%. The completed housing area was 368.16 million square meters, a decrease of 24.4%. Among them, the completed residential area was 268.71 million square meters, a decrease of 23.9%. From January to September, the sales area of newly built commercial housing was 702.84 million square meters, a year-on-year decrease of 17.1%, of which the residential sales area fell 19.2%. The sales volume of newly built commercial housing was 68888 billion yuan, a decrease of 22.7%, of which residential sales fell 24.0%.
4. Shanghai: Starting October 18, the minimum down payment ratio for the second upgraded housing unit will be adjusted to 25%
Shanghai issued a notice to adjust the city's housing provident fund personal housing loan policy. For those certified as the second improved housing unit, the minimum down payment ratio was adjusted to 25%; for those certified as the second improved housing unit and the housing purchased with the loan was located in the Lingang New Area of the China (Shanghai) Pilot Free Trade Zone and the six administrative districts of Jiading, Qingpu, Songjiang, Fengxian, Baoshan, and Jinshan, the minimum down payment ratio was adjusted to 20%. This notice will take effect on October 18, 2024. Provident fund loans accepted before October 18, 2024 will be implemented in accordance with the original policy, and provident fund loans accepted after October 18, 2024 (inclusive) will be implemented in accordance with this notice.
5. Central Bank Shanghai Headquarters: Local and foreign currency loans in Shanghai increased by 860.7 billion yuan in the first three quarters, and the growth rate of real estate loans rebounded
The Shanghai headquarters of the People's Bank of China held a press conference for the fourth quarter of 2024 to introduce financial operations in Shanghai in the first three quarters of 2024. Lu Jinzhong, director of the monetary and credit research department at the central bank's Shanghai headquarters, said that under the impetus of various policies, the city's credit operations showed a trend of reasonable total growth, continuous structural optimization, and steady decline in interest rates, which strongly boosted the confidence of market players. At the end of September, the balance of local and foreign currency loans in Shanghai was 12.04 trillion yuan, up 9.2% year on year. The growth rate was 1.9 percentage points higher than at the end of the previous year, and 1.6 percentage points higher than the same period in the country. Looking at the increase, in the first three quarters, Shanghai's local and foreign currency loans increased by 860.7 billion yuan, an increase of 256.7 billion yuan over the same period last year. The growth rate of real estate loans is picking up. At the end of September, the city's RMB real estate loan balance was 2.79 trillion yuan, up 4.0% year on year, and the growth rate was 3.1 percentage points higher than at the end of the previous year.
6. Xi'an: Commercial housing in the city can be listed and traded after obtaining a “Real Estate Property Certificate”
Five departments including the Xi'an Municipal Housing and Urban-Rural Development Bureau issued a notice on optimizing our city's real estate-related policies. Among them, it is proposed that commercial housing in the city can be listed and traded after obtaining a “Real Estate Property Certificate”. Price guidance for newly built commercial housing will no longer be implemented; real estate development enterprises will determine it reasonably according to market reality. The enterprise can independently choose whether to require notarization according to the supply and demand situation of the project. According to the decision of the market interest rate pricing self-regulation mechanism in Shaanxi Province, commercial personal housing loans no longer distinguish between first and second housing units, and the minimum down payment ratio is unified to not less than 15%. Abolish standards for ordinary housing and non-ordinary housing, and implement relevant policies in accordance with national regulations.
7. Sichuan Provincial Housing Provident Fund: Buying a house in Chengdu to support home purchases and withdrawing intergenerational assistance
The Sichuan Provincial Housing Provident Fund Management Center made corresponding adjustments to the current housing fund withdrawal policy on October 15. Support mutual assistance from generation to generation when buying a home. Provincial center depositors who have purchased a home within the administrative area of Chengdu and meet the conditions for purchasing a home can apply to withdraw the balance of their personal housing provident fund account at the provincial center. When the depositor's parents and children apply for withdrawal, they shall have no unsettled personal housing provident fund loans at the provincial center, and there are no other circumstances where withdrawal is prohibited. The housing applied for withdrawal is newly purchased housing from the date of implementation of these regulations until December 31, 2025 (inclusive). The application withdrawal deadline is December 31, 2026. The depositor's parents and children can apply for withdrawal once within one year of purchasing a home.
8. Ya'an, Sichuan: If you buy your own home, you can withdraw the couple's parents' or children's provident funds in one go
The Housing, Urban-Rural Development Bureau of Ya'an City, Sichuan Province and 20 other departments jointly issued “Certain Policies and Measures to Support Rigid Housing Needs and Diversified and Improved Housing Needs to Ensure the Stable and Healthy Development of the Real Estate Market”. Before June 30, 2025, depositors purchased self-occupied housing within the administrative area of Ya'an City. There were no unsettled personal housing provident fund loans, and there were no other situations where withdrawal was not permitted. They can apply for a one-time withdrawal of the housing provident funds of both parents or children of themselves and their spouse. The joint application for withdrawal of the amount and loan amount does not exceed the total amount of the home purchase. Housing transactions between parents and children do not apply to this policy. Commercial housing is based on the date of signing and filing of the purchase contract, and for retransactional housing, the date the real estate title certificate is obtained. Where depositary workers, parents, or children purchase self-occupied housing in the form of shared property rights, the limit on withdrawing shares from the Provident Fund shall be lifted.
9. The Shenzhen Provident Fund rental withdrawal policy is renewed for one year. Up to 100% of the deposit amount due in the month of application can be withdrawn every month
According to news from the Shenzhen Housing Provident Fund Management Center on October 17, in order to continue to support depositary workers to withdraw housing provident funds for rental housing, the housing provident fund rental withdrawal policy will be renewed for one year, and the validity period will be extended until October 31, 2025. During the validity period of the phased rental housing withdrawal policy, depositary workers themselves and their family members have no housing (including commercial housing, policy housing, and affordable housing) in the city, and when processing rental withdrawal services, they can withdraw up to 100% of the deposit amount due in the month of application.
10. Hebei introduced 18 measures to promote housing consumption: encouraging housing enterprises to buy homes and give away cars and household appliances
On October 17, the Hebei Provincial Department of Housing, Urban-Rural Development, together with 5 departments including the Provincial Department of Finance, issued “Certain Measures to Further Promote the Stable and Healthy Development of the Real Estate Market” to further promote the steady and healthy development of the real estate market through 18 measures, including implementing credit support policies, implementing housing “trade-in” housing, optimizing housing security methods, expanding the coverage of the “white list”, and building “good houses”. It also includes encouraging discount promotions for housing enterprises, using means such as buying a house and giving away cars, and home appliances, etc., to increase group purchase discounts.
11. Zhoushan, Zhejiang: The maximum loan amount for the Provident Fund is 800,000 yuan, and the maximum loan amount is 1.2 million yuan for various upward policies
On October 18, the Zhejiang Zhoushan Housing Provident Fund Management Center issued the “Notice on Adjusting Policies Related to Housing Provident Fund Loans and Withdrawals”. The document requires that the maximum loan amount of the Provident Fund be raised; the maximum loan amount for an employee applying for a housing provident fund loan to buy their first self-occupied home will be adjusted to 800,000 yuan; the maximum loan amount for an employee applying for a housing provident fund loan to purchase a second upgraded home will be adjusted to 600,000 yuan; and the maximum amount for enjoying various loan upward policies should not exceed 1.2 million yuan. At the same time, Zhoushan will also support improved housing consumption. If it is determined that the employee's family has purchased a new home for the first time, the first home loan policy will be implemented if there is a housing provident fund loan record and the relevant loan has already been settled. The criteria for determining the number of family housing units are based on the housing information recorded by the real estate registration department within the county (district) or functional area where the home was purchased. Relaxation of monthly loan repayment restrictions on provident fund loans. Employees who apply to withdraw the Provident Fund on a monthly basis to repay the Provident Fund loan are no longer required to keep a guarantee balance. A portion of the original guarantee amount for employees who left a guarantee balance before the introduction of this policy can be offset against the repayment amount every month.
12. “Settle Down in Chengdu in Golden Autumn” offline exhibition opened, and 3,983 housing units were sold in 3 days
According to reports, the “Settle Down in Chengdu 2024” offline exhibition is in full swing. The exhibition attracted nearly 30 real estate companies and over 100 projects to participate, and the participating developers all offered exclusive offers for this exhibition. According to public data from the Chengdu Housing and Urban-Rural Development Bureau, within three days of the exhibition, the city's housing transaction area was 414,932 square meters, and the number of units sold was 3,983. Among them, 989 new housing units were sold, with an average transaction area of about 132 square meters. As of 18:00 p.m. on October 17, new homes had been sold over 300 units in a single day for 3 consecutive days, far higher than the average of about 177 units per day in September; second-hand housing had sold around 1,000 units in a single day in the past 3 days.