Real estate regulation and control will continue to be strict, and market order rectification will form a complete closed loop.

Recently, the expectation of "staying in a house without speculation" has been strengthened again, the top-level structure has been gradually improved, and the long-term real estate mechanism has been further fully implemented.

On July 23, the Ministry of Housing and Urban-Rural Development and other eight departments issued the Notice on Continuously Rectifying and Regulating the Order of the Real Estate Market (hereinafter referred to as the Notice). The notice mainly focuses on four aspects: real estate development, housing sale, housing lease and property services, and comprehensively regulates the order of the real estate market.

On July 22nd, The Politburo Standing Committee (PSC) and Han Zheng, Vice Premier of the State Council of the People's Republic of China of the Communist Party of China attended a teleconference on accelerating the development of affordable rental housing and further improving the regulation of the real estate market. Han Zheng pointed out that real estate should not be regarded as a short-term means to stimulate the economy, but a long-term mechanism to stabilize land prices, house prices and expectations should be fully implemented to promote the stable and healthy development of the real estate market.

On the same day, the Ministry of Housing and Urban-Rural Development and the Central Bank respectively issued authoritative interpretations on affordable rental housing, real estate regulation and real estate financial regulation.

In the interpretation, the Ministry of Housing and Urban-Rural Development said that in the future, cities with weak regulation and excessive housing price increases will be resolutely held accountable. The next step will be to strengthen real estate financial control, improve the management rules of third-line and fourth-file financing for real estate enterprises, implement centralized management of bank real estate loans, and resolutely investigate and deal with illegal business loans, consumer loans and housing credit loans.

The central bank stressed that the next step will be to continue to improve the long-term mechanism of real estate financial management around the goal of stabilizing land prices, housing prices and expectations.

Prior to this, on July 2nd, the General Office of the State Council issued the Opinions on Accelerating the Development of Affordable Rental Housing, which was unprecedented in strength. Starting from five aspects: land support, optimizing administrative examination and approval, financial support, tax reduction and fee reduction, and financial support, the basic system and support policies of affordable rental housing are clarified. On the same day, the National Development and Reform Commission issued the "Notice on Further Improving the Pilot Work of Real Estate Investment Trust Funds (REITs) in Infrastructure", clearly including affordable rental housing in the infrastructure REITs pilot, and providing assistance from the capital side to accelerate the development of affordable rental housing.

The frequent occurrence of heavy signals reflects the stability and continuity of regulatory policies.

Many analysts believe that the intensive voice at the central level and the development of this comprehensive rectification work have sent important market signals, indicating that the real estate regulation will continue to be stricter in the future, and the rectification of the real estate order will effectively assist and consolidate the regulation effect.

It will take three years for the market order to improve obviously.

Eight departments, including the Ministry of Housing and Urban-Rural Development, focused on rectifying four areas of real estate development, housing sale, housing lease and property services, and proposed to strive to achieve a significant improvement in the order of the real estate market in about three years; Illegal activities have been effectively curbed, the supervision system has been continuously improved, the supervision information system has been basically established, the work pattern of various departments has gradually taken shape, and the number of complaints from the masses has dropped significantly.

For real estate development enterprises, focus on rectifying the behavior of real estate development enterprises that start construction in violation of laws and regulations, do not develop and build according to construction drawings and design documents, and have outstanding quality problems such as housing leakage, cracking and hollowing; For the purchase and sale of houses, we will focus on the rectification of non-personal housing loans such as real estate hoarding, misappropriation of transaction supervision funds, and taking or assisting in taking "business loans" and "consumer loans" for buying houses. For housing leasing, focus on rectifying illegal housing leasing consumer loan business and illegal housing leasing consumer loan business; For property services, we will focus on rectifying behaviors such as not providing services in accordance with the contents and standards agreed in the property service contract, using some owners to carry out business activities without authorization, and embezzling and misappropriating some owners' operating income.

In fact, the real estate market has been rectified and inspected in the past. For example, in 20 19, the Ministry of Housing and Urban-Rural Development and other six departments jointly carried out a special rectification work for housing rental agencies for half a year. "It's just that the past rectification movement was more like a storm. After the rectification inspection is passed, it may return to normal. " Li, chief researcher of Guangdong Housing Policy Research Center, said that in contrast, this round of rectification is more systematic, institutionalized and long-term.

Xu Xiaole, chief market analyst of RealData, believes that from the special rectification of housing leasing intermediaries by six departments in 2065438+2009 to the comprehensive rectification and standardization of the overall order of the real estate market by eight departments today, the areas covered have been greatly improved, from the previous land acquisition, development, transaction, leasing and property services, involving advertising, transaction tax and sources of funds. At this point, the comprehensive regulation and management of real estate order has formed a complete closed loop.

The policy continued to stabilize expectations.

In recent years, the central government has repeatedly reiterated its adherence to the orientation of "housing and not speculating", fully implemented the long-term mechanism of stabilizing land prices, housing prices and expected real estate, and promoted the stable and healthy development of the real estate market.

According to the Ministry of Housing and Urban-Rural Development, since the implementation of the 20 18 long-term real estate mechanism, all regions and departments have made arrangements according to the decision of the CPC Central Committee in the State Council, and the real estate market regulation has achieved remarkable results. In 2020, the price increase of new commercial housing and second-hand housing in 22 pilot cities decreased by 3. 1 percentage point and 1 percentage point respectively compared with 20 19, indicating that the long-term mechanism of real estate conforms to China's national conditions, conforms to the law of real estate market development, and is accurate and effective.

Since the beginning of this year, the regulatory authorities have continuously issued the "three lines and four files" and the centralized management system for real estate loans, and the "two centralized" policies for land supply in key cities have gradually landed. However, the first batch of centralized land supply in the first half of the year did not achieve obvious results in stabilizing land prices and stabilizing expectations. While the popularity of local auctions in some cities is high, the local auctions in the Yangtze River Delta and the Pearl River Delta are heating up.

On July 15, the National Bureau of Statistics released the relevant data of the property market in the first half of this year. The data shows that the real estate market has remained hot in the first half of this year. Not only is the monthly transaction scale significantly higher than that of the same period last year, but the market expectation is also quite high, and the real estate sales hit a record high in the same period.

In the context of high transaction heat, regulatory policies continue to increase. According to the statistics of Zhongyuan Real Estate, in the first half of this year, the regulatory authorities and local governments issued 286 property market regulation policies.

In view of these new situations and problems in the real estate market, recent meetings, statements made by the Ministry of Housing and Urban-Rural Development and the central bank, and notices issued by eight departments including the Ministry of Housing and Urban-Rural Development are all setting the tone for the second half of the year. The tightening trend of real estate finance will not change, and local policy regulation will continue to be normalized. We will speed up the improvement of the mechanism for stabilizing land prices, hold cities whose housing prices have risen too fast accountable, and accelerate the development of affordable rental housing.

It is expected that the "three lines and four files" financing management will gradually expand the pilot scope in the second half of the year. With the continuous development of centralized management system of real estate loans, the current situation of mortgage loans and loans will continue, and the land market will heat up. Cities will speed up the optimization of the follow-up land auction rules, and some hot cities in the Yangtze River Delta will regulate the rising expectations in the short term.

Zhuge Housing Search Data Research Center said that this notice also proposed to establish an institutionalized and normalized rectification mechanism, strengthen supervision, evaluation and assessment, and require all localities to effectively implement the main responsibility of the city and take cracking down on illegal activities as the top priority in rectifying the chaos in the real estate market. It is expected that more flexible city-based policies and precise regulation will become the key words for the next property market regulation.