Hot projects a room hard to find Hangzhou ushered in the property market regulation and control of the new policy industry: empty account without actual social security people face purchase restrictio

Hot projects a room hard to find Hangzhou ushered in the property market regulation and control of the new policy industry: empty account without actual social security people face purchase restrictions

On August 5, Hangzhou issued the Notice on Further Strengthening the Regulation and Control of the Real Estate Market (hereinafter referred to as the Notice) to further strengthen the purchase restriction of housing, improve the management of the sale of new commodity housing, and further standardize the market order.

Upgraded purchase restrictions

The Notice stipulates that households that have settled in the city for less than five years, and have paid urban social security within the city's purchase restriction for 24 consecutive months since two years prior to the date of purchase, are limited to purchasing one set of housing within the city's purchase restriction; non-city households that have paid urban social security or individual social security within the city's purchase restriction since four years prior to the date of purchase. The non-city household has been paying urban social security or personal income tax for 48 consecutive months prior to the date of purchase before it can purchase one housing unit within the city's purchase restriction.

In terms of sales management of new commercial residential properties, it is stipulated that within the scope of the city's purchase limit, when new commercial housing projects are publicly sold by notarial lottery, the ratio of the number of families registering their intention to buy a home to the number of properties on public sale is greater than or equal to 10:1, and the homeless families and ordinary families will be ranked according to the number of months of social security payment from the largest to the smallest respectively, and the families of high-level talents will be ranked according to the categories of talents in the first place, from highest to the lowest, and the same category of talents will then be ranked according to the number of months of social security payment from highest to the lowest. High-level talent families are first sorted by B, C, D and E talent categories from highest to lowest, and the same category of talents are then sorted by the number of months of social security payment from highest to lowest, and are shortlisted by a certain percentage in the public lottery. If more than one registered family has reached the minimum number of months of social security, they will be shortlisted for the balloting, and the calculation of the time of payment of social security for the registered family will be strictly regulated.

Yan Yuejin, research director of the E-Household Research Institute Think Tank Center, told the Daily Economic News reporter that there are two changes after the new regulations, one is that the past empty account without actual social security will face restrictions on the purchase of the second is the foreign household social security payment limit from the need for two years upgraded to four years. At the same time, whether it is a homeless family, ordinary families or high-level talent families, in the registration of intent to purchase a home, to take the order of the system, which helps to protect the social security payment of a long time buyers priority home purchase. Previously, Wuhan has implemented a housing ticket system, which is actually an optimized version of the registration system.

Intensive regulation

Hangzhou has been under constant regulation in the past six months, with a new policy at the beginning of the year requiring batches with a winning rate of less than 10 percent to be restricted to sale for five years on top of the original, and upgrading the sales restriction policy to prevent speculation in high-end projects.

March, "land supply two concentrated" policy land, but the land market heat to the boiling point, real estate enterprises shooting high motivation, at the expense of profit margins competing for self-sustaining, and even peripheral township plots are also equally sought after.

In May and June, individual housing loan interest rates experienced 2 upward adjustments, and now Hangzhou's individual first set of housing loan interest rates rose to a 5-year historical high - 6.25%. According to the Kerry report, Hangzhou's second-hand housing market has been affected by the fluctuations, and the volume of transactions in July has dropped by nearly half, with most of the properties accepting price cuts for listing.

On July 13, the Hangzhou Municipal Bureau of Planning and Natural Resources issued an internal notice calling for a halt to "residential land and commercial villas" in the ten districts of Hangzhou.

Under the successive regulation, the new residential market has not cooled down, and hot projects in the main city are still hard to find.

A room is hard to find

Hangzhou new housing market's overall performance in the first half of the year, Kerry research summarized as the continued tightening of the policy to suppress market speculation at the same time, aggravating the anxiety of home buying and purchasing; 2021 the beginning of the hotspot project focused on opening, the supply surged; in May, the official data on the completed sales of housing sales status adjustment, due to which the number of transactions surged in May.

Source: E-House Research Institute Think Tank Center

Data provided by the E-House Research Institute Think Tank Center to the reporter showed that in the past six months, the supply of new residential units in Hangzhou has always been less than the demand for supply, and under the sudden increase in transactions in May, the supply-to-demand ratio hit a rare new low of 0.27.

From the data, nearly a year in Hangzhou market new housing supply units, area are smaller than the actual transaction, red plate "low winning rate" has become the norm in the property market, while the transaction price is under the price limit policy to remain stable, from the trend, the enthusiasm of the buyers to buy a home is still difficult to suppress.

And for the market overheating triggered by a variety of irregularities in the sale of new homes, the "Notice" is further clarified, within the urban area, the new commodity housing public sales process of notarized shakedown, the buyer to provide false information, conceal the true situation or maliciously interfere with the notarized shakedown sale of the 3 years to stop its new commodity housing purchase intention registration and contract net signing filing.

In the second half of the year, including Hangzhou, the hotspot cities have been through the new rules one by one to make up for the policy loopholes, these controls show what changes? And what changes will be brought to the market?

Yan Yuejin said, "the second half of the real estate regulation and control showed three characteristics. First, the local government regulatory initiative to enhance the recent local governments around the timely identification of problems and solve problems, really promote the healthy development of the market. Secondly, the 'granularity' of the regulation has been significantly strengthened, that is, it is constantly refined, and constantly found all kinds of drilling policy loopholes in the practice of all-round regulation. Thirdly, there is a targeted focus on combating some new areas of speculation, such as the talent purchase segment, the intention registration segment, and the local household registration purchase segment. Affected by this, the probability of the real estate market cooling in the second half of the year increases, especially reflected in the first and second tier key cities and overheated third and fourth tier cities."