In 2022, Zhengzhou, Harbin, Qinhuangdao many cities to relax the requirements of sales restrictions or purchase restrictions, but basically are a single test of water, only Quzhou City has put a big move, on April 1, the official website of the people's government issued the "Notice on Promoting the Virtuous Circle and Healthy Development of the Urban Real Estate Industry", in terms of purchase restrictions, requiring non-registered households, individual industrial and commercial households and enterprises invested or controlled by natural persons to implement relevant housing purchase policies as households in the city. When Quzhou City previously implemented the purchase restriction, for non-local household registration families, they need to meet the social security or personal tax payment for 12 months to buy 1 suite, which means that non-Quzhou local household registration can now buy a house like a local family.
In terms of restricting sales, there is no restriction on the sale of newly built commodity housing on newly transferred plots in urban areas, and newly built commercial housing of 144 square meters or more that have not yet been signed online in the transferred plots. Prior to this, Quzhou City's requirement was to purchase newly built commercial housing of 144 square meters or more within the urban area, which could not be transferred within 5 years from the date of the online signing and filing of the "Contract for the Sale and Purchase of Commercial Housing".
After the release of the new Notice, it means that the purchase restriction Notice issued and implemented by Quzhou on August 7, 2021 will be equivalent to abolition.
Third- and fourth-tier cities have even given up testing the waters, directly handed over the bottom card, and fully relaxed the restrictions on sales and purchases, what is wrong with the property market? I think the main reason is in 3 points:
First, the economic development is weak
Zhejiang Province's GDP in 2021 reached a high level of 7.35 trillion yuan, ranking fourth among 31 provinces, but as a prefecture-level city, Quzhou's GDP was nearly 0.19 trillion yuan in the same period, accounting for only 2.6% of Zhejiang's GDP, and among the 11 prefecture-level cities in Zhejiang Province, Quzhou ranked ninth, the bottom of the appropriate. Such a city lacks pillar industries, real estate is an extremely important part of the economy, in order to rely on real estate in the short term to promote economic warming, the local housing purchase capacity has basically been overdrawn, can only throw an "olive branch" to county-level cities, rural areas, so that some outsiders into the city to buy a house, it is natural to reduce the qualification to buy a house.
Second, the rate of population inflow is low
Quzhou's economic development is poor, the population loss is serious, the data show that in 2020, Quzhou's permanent population of 2.28 million people, ten years increased by 150,000 people, an increase of 7.23%, compared with the province's growth rate of 18.63%, is a cliff-like decline. Economic development depends on consumption power, and consumption power comes from the demographic dividend, Quzhou lacks this power, for the people, life events are nothing more than marriage, childbirth, and these two are inseparable from buying a house, some want to go to the city to get married, let the children go to school in the city, the demand for houses is high, but suffering from the purchase of short-term can not buy a house, this part of the population is the direction of future sales in such cities.
Third, property sales have fallen to the bottom
In the first quarter of this year, real estate sales in Quzhou city were dismal again, with new home sales falling by 69% year-on-year, less than one-third of the same period in 2021, and second-hand houses reaching only one-fifth of last year. Property market sales into the cold winter, want to break the ice, housing enterprises are saddled with three red lines of huge financing pressure, or need to rely on the sale of houses to withdraw funds.
In fact, Quzhou is not without efforts in other aspects, in February it issued the "Notice on Adjusting and Optimizing the Relevant Policies of the Housing Provident Fund", which increased the amount of provident fund loans to a maximum of 800,000 yuan for families and up to 500,000 yuan for individuals; then on the talent attraction policy, it was also in February this year, and also issued a talent incentive policy, housing security, the maximum area of housing subsidies can reach 140 square meters, after paying the down payment, high-level talents can also apply for full provident fund loans. However, from the current step of completely liberalizing the property market policy, it is obvious that these previous welfare benefits have not saved the property market from the bottom, and can only take the last step to fully relax the purchase restrictions and sales restrictions to stimulate the purchase power of the property market. We can only hope that the property market can be warmed up in a short period of time, driving the warming of multiple industries, and there is no need to completely rely on the property market to maintain the economy in the future.