"Forming a new development model for real estate", what signal does Yi Gang release by speaking out heavily?

Yi Gang made a heavy voice and released the important direction of property market regulation in 2022.

Recently, Yi Gang, president of the Chinese Min min bank, pointed out in an exclusive interview with Xinhua News Agency that the structural adjustment of the real estate market is conducive to forming a new development model for real estate and realizing a virtuous circle and healthy development of the real estate industry.

In fact, at the previous Central Economic Work Conference, the mention of a virtuous circle in the real estate industry and the exploration of a new development model has aroused widespread concern in the market.

The 2022 Chinese Minmin Bank Work Conference held on December 27 also pointed out that it is necessary to properly implement the prudent management system of real estate finance, better meet the reasonable housing needs of home buyers, and promote the virtuous circle and healthy development of the real estate industry.

In the market's view, "promoting the healthy development of the real estate industry and a virtuous circle" means that the most dangerous moment in the real estate market has passed, and it is expected that relevant policies will be introduced to alleviate the debt pressure of housing enterprises in the future, giving housing enterprises a more relaxed financing environment.

How to interpret the new development model of real estate? Yan Yuejin, research director of the think tank center of E-House Research Institute, told reporters that it can be understood from three angles. First, the real estate market from the incremental main to the incremental stock of the model, this time need to see the new opportunities and markets for real estate development, including urban renewal, old residential areas, property management and leasing markets will be better; second, relying on the traditional housing price rise trend does have to change, including relying on land prices to develop the model of real estate is not feasible, the positioning of real estate economic development in various places should be more clear; third, the real estate consumption concept should also be changed, on the one hand, real estate taxes should be accelerated. On the other hand, rental consumption should also be cultivated.

In 2021, the financing of housing enterprises has gone through a difficult year. In response to the problem of capital turnover of individual real estate enterprises, Yi Gang said that in the early stage, individual housing enterprises were exposed to risks due to their own poor management, blind diversification and expansion. After the insurance of individual housing enterprises, relevant departments and local governments have actively taken measures to resolve risks in a sound and orderly manner to meet the normal financing needs of residents and real estate enterprises, and market expectations are gradually improving.

Yi Gang said, "On the whole, for risk events that occur in the market economy, we must adhere to the principle of marketization and rule of law to deal with them, consolidate the responsibilities of shareholders and territories, properly resolve various risks, and protect the fundamental interests of the broadest masses of the people." ”

In view of the operation and development of the real estate market in 2022, Lian Ping, chief economist of Zhixin Investment and president of the research institute, suggested that the first is to provide reasonable and stable credit support. In order to ensure the supply capacity of the market and effectively control the upward pressure on housing prices in large cities, bank credit should avoid big ups and downs and maintain the smooth operation of mortgage loans. Financial institutions should meet the reasonable financing needs of well-qualified housing enterprises, meet the rigid and improved housing purchase needs of residents, and provide reasonable financial support on the basis of risk control.

The second is to suggest increasing financial support for affordable rental housing. According to statistics, the number of young people who rent housing at the right age nationwide is about 150 million to 200 million, assuming that the rental problem of 10 million young people can be solved every year, and each person provides 10,000 yuan of credit support per year, that is, 100 billion yuan of rental housing credit support is needed every year to ensure the basic housing needs of young people in big cities.

The third is to moderately increase the supply of land in key second-tier cities and the financial support support supporting it. In order to solve the housing problem in large cities, the land supply and transactions in first-tier cities will increase accordingly in 2021, but the land market in key second-tier cities is relatively deserted, and the land supply in some cities will drop by 30% to 40% year-on-year, which may lead to insufficient housing inventory problems in the future, which will have hidden dangers in stabilizing local housing prices.