Entering 2024, in order to adapt to the changes in supply and demand in the housing market, many places across the country have adjusted or canceled the purchase restriction policy.
According to statistics, as of May 9, a total of more than 50 cities across the country have loosened the purchase restriction policy, of which 23 cities such as Xi'an, Chengdu, Hangzhou, Foshan, Dongguan, Xiamen, Nanjing, and Suzhou have completely canceled the purchase restrictions; First-tier cities such as Beijing have relaxed purchase restrictions outside the Fifth Ring Road; Shanghai relaxes the purchase restriction for singles; Shenzhen shortens the social security payment period for non-registered people, and families with many children can buy one more suite; Guangzhou has relaxed the purchase restriction on housing of more than 120 square meters.
In addition to the relaxation of purchase restrictions, many cities are also relaxing and optimizing housing policies to varying degrees. Up to now, more than 50 cities across the country have expressed their support for housing "trade-in", in addition, it also involves measures such as relaxing the provident fund loan policy, housing purchase subsidies, and canceling the lower limit of the interest rate of commercial loans for the first home.
It is foreseeable that more and more cities will lift housing purchase restrictions in the future.
So, what is the impact of the lifting of purchase restrictions on home buyers?
(1) It is easier to buy a house
In the past, if you want to buy a house, there will be restrictions on household registration, social security, and the number of houses you hold, resulting in many people having funds and willingness but not being able to buy a house.
After the purchase restriction policy is lifted, the threshold for home buyers to buy a house will be greatly reduced. Buyers who were previously subject to purchase restrictions will now have the opportunity to purchase the property of their choice.
(2) Housing rates are subject to change
The lifting of purchase restrictions could also lead to increased volatility in house prices. Against the backdrop of increased demand, house prices in some popular areas may see an upward trend.
Buyers need to pay close attention to market dynamics, rationally judge the trend of housing prices, and avoid blindly following the trend.
(3) There are more choices
Previously, you may only be able to choose from a limited number of properties or areas, but with the removal of purchase restrictions, you will be faced with more choices.
When choosing a property, buyers need to consider many factors such as location, transportation, facilities, house type, and price. At the same time, buyers also need to weigh the pros and cons of different areas and different projects to choose the most suitable property for themselves.
(4) Be careful with loans
While the removal of purchase restrictions has provided more options for home buyers, mortgage policies have not been eased at the same time. Home buyers need to pay attention to the changes in loan terms and understand the bank's requirements for home buyers' qualifications, income, credit information, etc.
At the same time, home buyers also need to reasonably plan the loan amount, repayment period and other details to ensure that their home purchase plan can be successfully realized.
(5) Risks should also be considered
While the lifting of purchase restrictions is good news, it is also important to be aware of the risks in the real estate market. For example, falling house prices, policy changes, etc., may affect your home purchase plans.
In the process of buying a house, buyers need to fully understand key information such as project information, developer qualifications, contract terms, etc., to ensure that their rights and interests are protected.
In fact, it can be seen that the purpose of canceling the purchase restriction this time is to reduce inventory and activate the real estate market.
Then some people asked, what are the benefits of revitalizing the real estate market?
The most direct impact is to accelerate the collection of real estate enterprises, as well as the tax collection of local finance and taxation.
Over the past 20 years, real estate has been known as the "barometer" of China's economy, and 70% of the assets of Chinese people are also bet on housing prices.
For now, the lifting of housing restrictions is good news for home buyers.
But more people are still in a state of wait-and-see.
So, what do you think about the lifting of purchase restrictions?
Would you choose to buy a house now?
Some netizens said that the complete cancellation of purchase restrictions is a powerful medicine that is not as effective as before.
Let's discuss it in the comment area!