[Keywords of the week]: intermediary violations, vacant properties, operating property financing, 180 square meters, 120 square meters
National
1.22--The Ministry of Housing and Urban-Rural Development reported 5 typical cases of real estate intermediaries violating laws and regulations
Housing and urban-rural development departments at all levels should thoroughly study and implement the spirit of the National Conference on Housing and Urban-Rural Construction, conscientiously implement the requirements of Document No. 2 of the Housing Regulations [2023], draw inferences from one case, strengthen the management of the real estate intermediary industry, and work with relevant departments to increase the investigation and punishment of violations of laws and regulations in the real estate industry that infringe on citizens' personal information, so as to promote the steady and healthy development of the real estate market. Employees of Shanghai Deyou Real Estate Brokerage Co., Ltd. illegally sold the company's internal owner information.
Comments: At present, the second-hand housing market has received more and more attention, and the competent authorities have strictly supervised the second-hand housing brokerage industry, and the actions to prevent risks are becoming more and more ordinary. In 2023, the proportion of housing transactions in the country will be nearly 40%, and it is expected that the proportion of transactions will increase in the future, and the position of second-hand housing in the property market will also become pivotal. However, the difficulty of supervision is more complex than that of the new housing market, and the difficulty of market regulation will be greater, so the supervision of real estate will frequently appear in the future, especially the supervision of large real estate brokerage companies has become more important.
1.24-Meng Xiaosu responds to rumors of vacant properties: 300 million units of data misrepresentation The actual number of units for sale is about 3 million
Meng Xiaosu, the former head of the National Housing Reform Research Group, responded to rumors about the number of vacant commercial houses in China.
In fact, according to the National Bureau of Statistics, as of November 2023, the area of commercial housing for sale in the country is 318.13 million square meters, which is equivalent to more than 3 million suites if estimated at 100 square meters each.
Comments: For the vacancy rate, whether it is 3 million units or 300 million units, it is a value obtained by different people through different logics, and I personally think that there is no need to overinterpret this data. First of all, there is a large gap between different regions in the vacancy rate data, some areas are cities with a large concentration of floating population, there is a large demand for renting, then the vacancy rate will be lower, but at the end of each year or the tourist season, the vacancy rate will be appropriately reduced by the gathering of returning and tourist groups, and with the improvement of living standards, the situation of individuals owning multiple sets of properties for different purposes will gradually increase, so the calculation logic of the vacancy rate also needs to be adjusted in a timely manner. Second, the release of authoritative data by the relevant departments can resolve this part of the unnecessary controversy. As in the past, the National Bureau of Statistics (NBS) regularly publishes vacancy data, but for various reasons, like the youth unemployment rate, it does not, so the best way to dispel the public's doubts is to re-publish the data.
1.24-Central Bank: Do a good job in the management of operating property loans to meet the reasonable financing needs of real estate enterprises
The "Notice" refines the requirements for the management caliber, term, quota and purpose of commercial banks' operating property loan business, and clarifies that by the end of 2024, for real estate development enterprises with standardized operation and good development prospects, national commercial banks will issue operating property loans for operating capital needs related to the property itself on the basis of controllable risks and sustainable business. In addition to loans and shareholder loans arising from the replacement of construction and purchase of properties, operating property loans can also be issued to repay relevant loans and open market bonds in the field of stock real estate of real estate development enterprises and their group holding companies (including consolidated subsidiaries).
Comments: In recent years, due to many reasons, physical commercial facilities will face more or less operational problems, and most commercial entities are facing transformation and business adjustment, so they need more financial support. The policy of supporting operating property loans issued by the central bank this time can meet the financial problems in the operation of real estate enterprises, thereby alleviating the financial pressure of enterprises and helping them survive the winter of the industry. However, under the premise of optimizing the shortage of operating funds of enterprises, it is also necessary to do a good job in the supervision of funds to ensure that all funds are used in operation, so as to effectively use funds.
City-level
1.24-Chongqing: Adjustment of property tax Raise the tax-free area for individual housing to 180 square meters
The Chongqing municipal government has adjusted its property tax policy, announcing that it will increase the tax-free area of individual housing from the original 100 square meters to 180 square meters. This adjustment applies to newly purchased single-family commercial homes and high-end housing.
According to the revised information published online by the Chongqing Municipal People's Government, the adjustment involves two documents: the Interim Measures of Chongqing Municipality on Carrying out the Pilot Reform of the Collection of Property Tax on Some Individual Housings and the Implementation Rules for the Collection and Administration of Property Tax on Individual Housing in Chongqing. The specific amendment is to adjust the second paragraph of Article 6 of the Interim Measures.
Comments: At present, in the implementation of the real estate tax policy in the two cities of Shanghai and Chongqing, more or less affect the recovery of its real estate time, so the adjustment of the policy is particularly necessary, and the competent authorities have also delegated the property market policy authority to the locality, so the adjustment of the real estate tax policy is also particularly necessary, so as to benefit the recovery of the real estate market. From the perspective of Chongqing's substantial adjustment of the scope of property tax collection to more than 180 square meters, basically the vast majority of buyers can get the right to be exempted from property tax, and this policy is also worthy of reference in Shanghai, so as to reduce the cost of buyers, and better enhance the willingness of buyers to replace or improve, which is conducive to the stability of the property market.
1.27-Guangzhou: From January 27, the purchase restriction of housing over 120 square meters will be lifted
The "Notice" points out: (1) Within the scope of the purchase restriction area, the purchase of housing with a construction area of more than 120 square meters (excluding 120 square meters) is not included in the scope of purchase restrictions. (2) Within the scope of the restricted purchase area, if the resident family uses its own housing as rental housing and goes through the formalities of housing lease registration and filing, or obtains the housing information code in the city's stock housing trading system and plans to sell it, the number of family housing units shall be reduced accordingly when purchasing the housing.
Comments: According to the statistics of 58 Anjuke Research Institute, nearly half of the second-hand housing transactions in various places are listed for sale by landlords to improve their living conditions after replacement. Then, the market cannot be recovered, the main reason is that the small and medium-sized landlords cannot be realized and can not be improved, and the affordable housing also solves the housing needs of buyers who just need it, which exacerbates the difficulty of replacing this part of the improved demand. Therefore, it should be more urgent for small and medium-sized houses to release purchase restrictions, so the low-end demand to enter the market to promote the smooth flow of the property market transaction chain is also an important means to stabilize the property market in disguise.