Abstract: The General Office of the Ministry of Natural Resources issued the Notice on Doing a Good Job in the Supply of Residential Land in 2024, which states that the transfer of new commercial residential land should be suspended if the period of commercial housing decommissioning exceeds 36 months;
Recently, the General Office of the Ministry of Natural Resources issued the Notice on Doing a Good Job in the Supply of Residential Land in 2024 (hereinafter referred to as the "Notice").
The "Circular" is a response to the spirit of the Central Committee meeting on April 30.
The central meeting emphasized that it is necessary to continue to prevent and resolve risks in key areas. We will continue to adhere to city-specific policies, consolidate the responsibilities of local governments, real estate enterprises, and financial institutions, and earnestly do a good job in ensuring the delivery of housing to protect the legitimate rights and interests of home buyers. It is necessary to combine the new changes in the supply and demand relationship of the real estate market and the new expectations of the people for high-quality housing, coordinate the study of policies and measures to digest the stock of real estate and optimize the incremental housing, and pay close attention to building a new model of real estate development to promote the high-quality development of real estate.
The "Notice" points out that if the period of commercial housing is more than 36 months, the transfer of new commercial residential land should be suspended, and at the same time, great efforts should be made to revitalize the stock until the period of commercial housing is reduced to less than 36 months;
The "Notice" also points out that for idle residential land that has not started construction for more than two years after the deadline, it should be recovered in accordance with the law.
This means that this "Notice" will actively guide and influence the commercial housing land transfer plan in various places this year.
There is no doubt that this will be a major positive for the commercial housing stock market.
At the beginning of April, the "Shanghai Municipal Annual State-owned Construction Land Supply Plan" was announced (hereinafter referred to as the "Plan"), and this "Notice" was released on April 29. Therefore, it is unclear whether the Plan has been subject to the "guidance" of this Circular in advance.
In addition, Qingpu District was absent from the first two batches of "local auctions" in Shanghai this year. For details of the first two batches of "land auctions" in the absence of the Plan and Qingpu, please refer to further reading.
Extended reading:
The full content of this "Notice":
In order to adapt to the new situation of major changes in the relationship between supply and demand in the real estate market, support the revitalization of the stock of land, and promote the steady and healthy development of the real estate market, the relevant work on the supply of residential land in 2024 is hereby notified as follows:
1. Do a good job of connecting the annual residential land supply plan with the annual housing development plan
Based on local economic and social development, actual market demand, resources, environment, population and other constraints, all localities should determine housing by people and land by housing, and coordinate the supply of residential land with "market + security". The municipal and county departments in charge of natural resources shall, under the leadership of the party committee and government at the same level, actively cooperate with the preparation and implementation of the annual plan for housing development, and prepare the 2024 annual residential land supply plan (hereinafter referred to as the land supply plan) according to the housing construction needs determined in the annual plan for housing development.
2. Reasonably control the supply of new commercial residential land
All localities should optimize the scale, layout and structure of commercial office land and residential land in a timely manner according to market demand, and improve the residential land supply adjustment mechanism corresponding to the cycle of commercial housing de-conversion and residential land stock. Cities with a de-conversion period of 18 months (exclusive) to 36 months shall, in accordance with the principle of "how much to revitalize and how much to supply", dynamically determine the upper limit of the area of newly transferred commercial residential land according to the area of the stock of commercial residential land (including completion and resumption) that has been revitalized in the current year.
The data on the de-commercialization cycle of commercial housing and the revitalization of the stock of commercial residential land in various regions are dynamically updated on a quarterly basis.
3. Continue to vigorously support the supply of land for affordable housing
All localities should give priority to the land supply plan according to the affordable housing construction plan, and should ensure that everything is guaranteed. It is necessary to take multiple measures at the same time to make overall plans to revitalize all kinds of stock land for the construction of affordable housing.
For the residential land involved in the project included in the urban village reconstruction plan, which is really used for the construction of resettlement housing, priority should be given to ensuring the supply of land;
Fourth, strictly implement the relevant requirements for the resumption of residential land
All localities should rely on the dynamic monitoring and supervision system of the land market, grasp the base number of residential land that has not started construction for more than two years after the deadline, continue to update it dynamically, formulate a type-by-type and step-by-step disposal plan and organize its implementation, establish a ledger, and implement sales management. For idle residential land that has not started construction for more than two years within the time limit, it should be recovered in accordance with the law.
Fifth, layer by layer compaction responsibility
Municipal and county departments in charge of natural resources shall strictly implement the main responsibility for the supply of residential land, strengthen organizational leadership and departmental coordination, scientifically prepare land supply plans, implement the requirements for the regulation and control of residential land supply, do a good job in land purchase qualifications and capital supervision in accordance with laws and regulations, and actively cooperate with relevant departments to prevent financing platform companies from taking land in violation of regulations and prevent hidden debt risks from the government.
Provincial-level departments in charge of natural resources should strengthen the guidance and supervision of the supply of residential land in cities above the prefecture level, the location of prefecture-state leagues and key counties (cities), and take effective measures to supervise the implementation of residential land supply requirements. It is necessary to rely on the local online trading platform and the dynamic monitoring and supervision system of the land market to strictly control the supply of urban commercial residential land for more than 18 months in the cycle of commercial housing decommissioning, and curb the unreasonable growth of the stock of residential land;
The Ministry will continue to strengthen the monitoring and supervision of the residential land market, focusing on the pilot cities of the long-term real estate mechanism and 70 other large and medium-sized cities. The ministry will regularly report on the implementation of regulation and control policies in each province and send a copy to the provincial people's government.
General Office of the Ministry of Natural Resources
April 29, 2024
(The above interpretation is for reference only, please refer to the official announcement.) ）
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Source: Ministry of Natural Resources
Editor: Daqingpu Fang Tan
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