Support "business to live" and reduce transaction costs! The Hunan apartment market ushered in a major positive

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Sanxiang Metropolis Daily, New Hunan Client, October 28 (All-media reporter Bu Lan video Bu Lan) On October 28, the reporter learned from the Hunan Provincial Department of Housing and Urban-Rural Development that "Several Opinions on Promoting the Inventory of Non-residential Commercial Housing" has been issued recently. The "Opinions" pointed out that the transaction costs of non-residential commercial housing will be reduced, and for units and individuals that newly purchase or lease (self-sustain) stock of non-residential commercial housing, the city and county can adopt housing subsidies, rent subsidies, and reduce related transaction costs in accordance with policy provisions to support them.

Planning modifications can be made according to the "commercial to residential"

The "Opinions" make it clear that the increase in land for non-residential commercial housing will be strictly controlled. For cities and counties with a non-residential commercial housing inventory destocking cycle of more than 36 months for two consecutive quarters, in addition to the key investment projects of the province and the city and the land for logistics and refueling stations, the listing and transfer of new non-residential commercial housing land will be suspended.

For non-residential commercial housing land that has been transferred and has not yet been built, it is allowed to be transformed into the development and construction of state-supported emerging industries, pension industries, cultural industries, sports industries and other projects in accordance with regulations, and under the premise of meeting the bearing capacity of public service facilities and infrastructure facilities, it can be planned and modified according to "commercial to residential" upon approval, and the proportion of commercial and residential housing can be appropriately reduced.

Encourage enterprises to convert commercial, office and other non-residential commercial housing into self-sustaining properties. Support real estate development enterprises to change from the sale of non-residential commercial housing to the investment model of "selling and renting at the same time". Encourage real estate development enterprises to set up professional leasing companies, enjoy relevant preferential policies in accordance with regulations, carry out housing leasing business, operate inventory non-residential commercial housing, and revitalize assets.

Appropriately reduce transaction costs related to non-residential commercial housing

The "Opinions" make it clear that to reduce the transaction costs of non-residential commercial housing, for units and individuals who newly purchase or lease (self-sustaining) stock of non-residential commercial housing, the city and county can adopt housing subsidies, rent subsidies, and reduce related transaction costs to support them in accordance with policy provisions.

At the same time, the cost of apartment residents is reduced. Residents living in apartments who meet the installation conditions and construction standards of "one household and one table", after the meter is read by the urban water supply company, power grid company, and city gas company to the household, the user can hold the house ownership certificate or real estate registration certificate and other documents to apply for the implementation of the urban residents' water, electricity and gas price standards.

Increase financial support. On the basis of the national unified credit policy, the financial policy for non-residential commercial housing adheres to the classification policy, encourages banking institutions to combine the characteristics of small and medium-sized innovative enterprises, innovate credit products, and actively support the credit needs of innovative and entrepreneurial entities for self-sustainment, leasing and operation of non-residential commercial housing.

It is reported that the Opinions will be implemented from October 22, 2021 and will be valid until October 21, 2026.

The market trading activity will be significantly improved

The introduction of the policy is actually closely related to the "wave of apartment price reductions" in the market.

From 9000 yuan / ㎡ to 6888 yuan / ㎡! Since March this year, the Changsha apartment market has opened the "dumping mode", and by October, even the riverview apartments in the city center have dropped to the "7" prefix.

"Jinmao Jianfa Boyue starts from 7288 yuan / ㎡, limited to 5 days"; "Greenland V Island emergency push, first-line lakeside 9199 yuan / ㎡ apartment"; "Excellent Zhonghuan total price from 380,000 yuan, enjoy the financial core subway apartment"... Behind the crazy price cuts, it is actually the result of the huge inventory pressure in the apartment market and the low market expectations.

According to data from Hunan Zhongyuan Real Estate Research Institute, as of the end of September, the inventory of business apartments in changsha's five districts was 4.61 million square meters, and the deindustrialization cycle was 36 months. Changsha office inventory of 3.51 million square meters, the deindustrialization cycle of 249 months. The commercial stock is 4.34 million square meters, and the deindustrialization period is 199 months.

"This document contains 6 departments, including the Department of Finance and the People's Bank of China, which also means that the self-sustaining, leasing, etc. of non-residential commercial housing in the later period may be supported by more practical financial measures." At the same time, for home buyers, reducing financial pressure from many aspects such as water and electricity, transaction costs, and rent subsidies is conducive to attracting more wait-and-see people to enter the market and accelerating the destocking of products such as apartments. At that time, it is expected to increase and trading activity will be greatly improved. A person in charge of marketing of housing enterprises said.

In the view of the relevant person in charge of the Market Knowledge Center of Hunan World Union Bank, allowing projects under construction or to be built to "change into commercial housing" and revitalize the stock of commercial real estate is conducive to reducing the pressure on housing enterprises, "and strive to achieve market demand-oriented and allow the transformation of real estate projects under construction." This is undoubtedly a shot in the arm for the current commercial market in Changsha with a long deindustrialization time, high inventory and serious product homogenization. However, there are certain thresholds, one is to meet the bearing capacity of public service facilities and infrastructure facilities, according to the procedure for approval; the second is that the commercial and residential ratio can only be appropriately reduced. ”

The person in charge said that the current commercial de-industrialization cycle in the five districts of Changsha is about 7 years, in recent years, Changsha's pure commercial land has decreased, but the commercial ratio of residential land is high, under the new policy, it is expected that Changsha's future land supply will be pure residential land or low commercial and residential ratio plots, directly from the source to reduce the pressure of commercial destocking, but also help to improve the enthusiasm of housing enterprises to obtain land.

[Editor-in-charge: Hu Yuanyuan]

[Source: Sanxiang Metropolis Daily]