Mini Program: Daily real estate industry dynamics summary
1. Chongqing Housing Provident Fund launches new policies: optimize "commercial to public", allow for withdrawal of down payment for house purchase, and extend loan term
Chongqing Housing Provident Fund Management Center issued a notice on November 28 (Notice on Optimizing and Adjusting the Housing Provident Fund Use Policy). The notice proposes that if the depositor's family has paid off the first housing provident fund personal housing loan and has no housing in the district or county (autonomous county) where the house is to be purchased, the first housing standard shall be applied when applying for a housing provident fund personal housing loan. From the date of issuance of this notice, if the depositor's family uses the housing provident fund personal housing loan to purchase a new house, within one year from the date of the purchase of the house, they can apply to withdraw the housing provident fund to pay the down payment for the house. If the depositor's family has paid off the first housing provident fund personal housing loan, they can apply to replace the commercial housing loan of the only house in the city with a housing provident fund personal housing loan, and the loan interest rate shall be implemented according to the first housing standard. The expiration time of the housing provident fund personal housing loan is extended to 68 years old for men and 63 years old for women, or extended to 5 years after the statutory retirement age of the depositor, and the maximum loan term shall not exceed 30 years.
2. Huadu District in Guangzhou issued the first batch of "purchase and delivery of certificates" real estate ownership certificates
Recently, the Huadu District Real Estate Registration Center and the District Taxation Department jointly held an event called "House Purchase and Certificate Delivery" to help 11 buyers achieve seamless connection between house purchase, house delivery and certificate collection at the Yian Lidu Mansion purchase site. This is one of the first batches of real estate certificates issued through on-site services since Guangzhou implemented the policy of "House Purchase and Certificate Delivery".
3. Housing fund loan interest rates may be adjusted, experts suggest another 80BP reduction
We are about to enter 2025, which means that the interest rates of some existing provident fund loans will be adjusted. The background is that in May this year, the People's Bank of China issued a notice to reduce the interest rate of the first personal housing provident fund loan of more than 5 years from the original 3.1% to 2.85%. The reporter noticed that since the beginning of this year, the mortgage interest rates of commercial banks have fallen rapidly, and there was a situation where the provident fund loan interest rate and the commercial loan interest rate were inverted. Industry insiders suggested that the provident fund loan interest rate should be adjusted as soon as possible to better play the inclusive nature of the provident fund loan. Ren Tao, a specially appointed senior researcher at the Shanghai Finance and Development Laboratory, pointed out that the interest rate of personal housing provident fund loans should be reduced by at least 80BP. (China Business News)
4. Guangzhou Financial City Yuancun Silk and Hemp Factory Plot 720 and Plot 721 are listed for sale, with a total starting price of approximately RMB 7.021 billion
The Guangzhou Financial City Yuancun Silk and Hemp Factory plots (Plots 720 and 721) have been officially announced for sale. Plot 720 has an available construction land area of 13,977.12 square meters, a total construction area of 53,113.1 square meters, a plot ratio of 3.8, a starting price of 269,393 million yuan, and a starting floor price of about 50,700 yuan per square meter. Plot 721 has an available construction land area of 27,306.54 square meters, a total construction area of 84,650.3 square meters, a plot ratio of 3.1, a starting price of 432,792 million yuan, and a starting floor price of about 51,100 yuan per square meter. The sale price of the two plots is about 7.021 billion yuan, and the plots are expected to be officially auctioned at the end of December. (Guangzhou Daily)
5. Beijing released the sixth round of residential land supply list this year, and the starting prices of the two projects in Haidian Zhufang are both over 7 billion
On November 28, the website of Beijing Municipal Commission of Planning and Natural Resources released the list of commercial residential land to be supplied in the sixth round in 2024, involving a total of 6 plots of land with a land area of about 26 hectares and a construction scale of about 600,000 square meters. The above projects will be supplied before mid-December 2024. This round of land parcels launched is centered around rail transit stations, and continues to increase land supply in areas with prominent market demand and good infrastructure and public service facilities. Among them: 4 projects are located in the central urban area, 2 in Haidian District, 1 each in Fengtai District and Shijingshan District; 2 projects are located in multiple areas, one in Daxing District and one in the Economic and Technological Development Zone. Among the above projects, the two most concerned projects in Haidian Zhufang have issued transfer announcements on the day the list was announced. The total land area is about 8.2 hectares, the construction scale is about 200,000 square meters, and the planned use is Class II residential land. The starting prices are 7.8 billion yuan and 7.23 billion yuan respectively.
6. Shanghai Securities News: Improve the long-term mechanism of "being able to lend" and "daring to lend", and take multiple measures to achieve a virtuous cycle between real estate and finance
It has been nearly a year since the establishment of the urban real estate financing coordination mechanism. The Financial Supervision Administration has guided all banks to further increase their efforts on the basis of the existing special working group mechanism, implement the loan release progress project by project, and promote the "white list" projects to "lend as much as possible". It is understood that relevant departments and commercial banks in various places have formed a set of replicable and popularizable experience in the credit release of "white list" projects. The most critical thing is to promote commercial banks to continuously improve the long-term mechanism of "being able to lend" and "daring to lend", so as to ensure the safety of new loans and improve the repayment capacity of existing debts, and realize a virtuous cycle of real estate and finance.
7. Sichuan Guangyuan Cangxi increases the provident fund loan limit, and the loan limit for dual-income families is raised to 1.2 million yuan
On November 29, Cangxi County, Guangyuan City, Sichuan Province announced that it would implement six measures from December 1, 2024 to further promote the stable and healthy development of the real estate market. Among these measures, increasing financial support has become a key link, specifically in the form of an increase in the provident fund loan limit. For dual-income families, the loan limit will be increased to 1.2 million yuan; while the loan limit for single-income families will be increased to 1 million yuan. In addition, for families with two or three children, the policy also specifically stipulates that the loan amount will be increased by 100,000 yuan and 200,000 yuan respectively on the basis of the maximum limit to better meet the housing needs of families with many children.
8. Guangdong Yangjiang issued new measures to promote the real estate market and support the online signing and filing of "work-to-housing"
On November 28, Yangjiang City, Guangdong Province issued (Several Measures of Yangjiang City to Promote High-quality Development of the Real Estate Market), aiming to support the online registration of "workers' housing" to promote the high-quality development of the real estate market. According to (measures), for projects that have obtained (commercial housing pre-sale licenses), developers can directly register online the relevant housing sources with various participating units in accordance with the "workers' housing" contract or agreement signed by both parties for the commercial housing generated during the construction of the project to various participating units. The implementation of this policy will help simplify the transaction process of "workers' housing" and improve the efficiency of the real estate market. In addition, (measures) also require that for real estate projects that cannot obtain certificates due to problems such as unpaid taxes and government fees by real estate companies, in accordance with the spirit of relevant national documents and the principle of "certificates are issued without the fault of the masses", "certificates and payments are separated", and the registration and certificate procedures are handled for the masses first, and the relevant departments carry out the collection of arrears in accordance with the procedures. This measure will help to properly solve the historical problem of "difficult registration" of real estate, so that the masses can "see changes, see results, and get benefits".
9. Liaoning Province's real estate and home furnishing joint promotion activity ended, with 2,600 new commercial residential units sold in 15 days
On November 28, the "11.11 Liaoning Province Real Estate and Home Furnishing Joint Promotion Event" jointly organized by the Liaoning Provincial Department of Housing and Urban-Rural Development and the Provincial Department of Commerce came to a successful conclusion. The event lasted for 15 days, with a total of 353 new commercial residential projects participating in the province, with a total sales of 2,600 new commercial residential units, a total sales area of 299,200 square meters, and a total sales amount of 2.915 billion yuan.
10. U.S. existing home sales index rose to 77.4, a seven-month high, driven by a brief drop in mortgage rates
The U.S. existing home sales index unexpectedly rose to a seven-month high in October as a brief drop in mortgage rates attracted homebuyers. According to the National Association of Realtors (NAR), the U.S. existing home sales index rose 2% month-on-month in October, compared with expectations of a 2% drop, and the previous value was revised from a 7.4% increase to a 7.5% increase. Homebuyers frustrated by rising financing costs got a brief respite in late summer when mortgage rates hit a two-year low. This stimulated a wave of home purchases that lasted until October, even though interest rates began to rise again.
11. Hedge funds flock to Japanese companies because of $165 billion in undervalued real estate
Global hedge funds and private equity firms are flocking to Japanese companies in a bid to unlock up to 25 trillion yen ($165 billion) in undervalued real estate value. U.S. firm Elliott Investment Management announced a 5.03% stake in Tokyo Gas, with reports saying Elliott estimates the latter's real estate portfolio is worth about 1.5 trillion yen - almost the entire market value of the utility. Investors who insist that Japanese companies are undervalued are increasingly focusing on this strategy. It is the driving force behind private equity deals such as the $4 billion Fuji Software acquisition and stakes by activist investors such as Elliott, Palliser Capital and 3D Investment Partners.
Article forwarded from: Jinshi Data