Since the beginning of this year, affected by many factors, the real estate market in some cities has warmed up, and some cities have shown signs of overheating. Some cities have increased the regulation and supervision of the real estate market due to the city’s policy and precise regulation.
Experts believe that in the second half of the year, we should continue to adhere to the positioning of "houses are used for living, not for speculation", not regard real estate as a short-term means to stimulate the economy, fully implement the long-term mechanism of stabilizing land prices, housing prices and expectations, and promote the stable and healthy development of the real estate market. What are the problems in the real estate market at present? What areas should the real estate market develop steadily and healthily? In response to these problems, the Economic Daily reporter interviewed relevant experts.
Continuously standardize market order
The long-term mechanism of real estate regulation is constantly developing and improving. Liu Hongyu, director of Tsinghua University Real Estate Research Institute, believes that the policy toolbox of real estate market regulation will be enriched continuously. The regulation and control of the real estate market will comprehensively use a series of means such as land, finance, administrative means, finance and taxation to form a joint force and play a role, and continue to adhere to the positioning of "housing and not speculating".
Regulation by administrative means is still an important link to promote the stable and healthy development of the real estate market. In Liu Hongyu’s view, the main responsibility of local governments in real estate regulation should still be further developed. The relevant person in charge of the Ministry of Housing and Urban-Rural Development said that cities with poor regulation and control and large market fluctuations should be resolutely held accountable.
Yu Xiaofen, vice president of Zhejiang University of Technology, believes that in addition to implementing the main responsibility of the city government, it is also necessary to play the role of supervision and supervision by the provincial government. There are many prefecture-level cities and county-level cities in China. It is not enough to rely solely on the supervision and monitoring of the Ministry of Housing and Urban-Rural Development. The role of provincial governments should also be brought into play. For example, Zhejiang Province has established a monitoring system for the prices of new commercial housing and second-hand housing in prefecture-level cities and county-level cities, which has played a good role in housing price monitoring.
In terms of land supply, we will speed up the improvement of the working mechanism of "stabilizing land prices", optimize the rules of land auction, and establish an effective review system for enterprises’ land purchase funds. In this regard, Wang Ruimin, an associate researcher at the Institute of Market Economy of the State Council Development Research Center, believes that the land supply in hot cities, especially the proportion of residential land supply, should be increased to ease the contradiction between supply and demand and guide residents’ expectations. Wang Ruimin suggested that in terms of housing supply structure, we should stick to ordinary commercial housing, form commodity housing with different prices and levels, and meet the housing needs of most groups through market-oriented methods. For cities with insufficient land resources, such as Shenzhen, we can promote the urbanization of housing-related public services in neighboring areas through interconnection with infrastructure in neighboring areas to meet the needs of citizens.
At the same time, relevant departments will continue to regulate the order of the real estate market, effectively manage intermediaries and other institutions, and resolutely investigate and deal with market chaos. The relevant person in charge of the Ministry of Housing and Urban-Rural Development recently said that it will seriously investigate and deal with illegal acts in real estate development, intermediary, property and leasing, purify the market environment and safeguard the legitimate rights and interests of the people.
Strictly investigate the illegal entry of credit funds into the market
The illegal entry of credit funds into the property market has become an important factor for the excessive rise in housing prices and will also gather financial risks. Strengthening the financial management of real estate has become a prominent feature of China’s real estate market regulation. In the second half of the year, real estate regulation will firmly grasp the key of real estate finance.
For real estate financial management, Dong Ximiao, chief researcher of Zhaolian Finance and part-time researcher of Fudan University Financial Research Institute, believes that to realize the stable and healthy development of the real estate market, finance needs to be clearly positioned, do something different and play its due role appropriately. Financial institutions should strictly implement the regulation policies of the real estate market, especially fully implement the centralized management of real estate loans and the "three lines and four files" financing management requirements of real estate enterprises, curb the blind expansion of real estate enterprises, reduce excessive dependence on financial leverage, and further stabilize the expectations of the real estate market. In the specific work, we should strictly control the risk, comprehensively review the flow of credit funds, and prevent funds from illegally flowing into the real estate market. For real estate enterprises, strengthen the examination and do not provide financing support for unqualified real estate development projects; Do not provide channels or credit guarantees for projects that violate the policies of the real estate industry. For individual users, the operating loans and consumer loans issued need customers to provide proof of use, and strictly prevent the transfer of funds to the real estate market through consumer loans, operating loans, credit card overdrafts, etc.
At the same time, Dong Ximiao suggested that financial institutions should further implement the principle of "housing without speculation" and increase support and services for the housing rental market. First, we can cooperate with real estate enterprises to turn the houses for sale into long-term rental sources by signing a lease right transfer agreement, and issue rental loans to tenants who meet the corresponding conditions. Second, it can cooperate with local governments to provide corresponding financial innovative products and services in all aspects of housing rental platform transaction matching and credit evaluation. Third, customers can be provided with financing support by credit card installment, and the handling fee is lower than the service fee charged by the third-party rental platform, and there is no need to pay liquidated damages for early repayment. Commercial banks, in particular, can accelerate their entry into the housing rental market, which can not only promote the development of housing rental finance in the direction of scale and specialization, but also facilitate the formation of a long-term mechanism for the stable and healthy development of the real estate market.
Accelerate the development of affordable rental housing.
The development of affordable rental housing is conducive to the steady and healthy development of the real estate market. The local government formulates and announces the construction plan of affordable rental housing and expands the supply of affordable rental housing, which can continuously optimize the urban housing supply structure and provide channels for new citizens, young people and other groups to solve the housing difficulties through leasing; It can stabilize market expectations, reasonably release the demand for house purchase, ease the pressure of rising house prices, and provide strong support for the stable and healthy development of the real estate market.
On July 22nd, the State Council held a meeting to emphasize that the development of affordable rental housing is the key task of housing construction in the 14th Five-Year Plan. It is necessary to grasp the policy focus of affordable rental housing, clarify the target of protection, focus on housing security for new citizens and young people, and give priority to the housing difficulties of new citizens engaged in basic public services. Adhere to the "basic protection", focus on small units, and pay attention to achieving "job-residence balance". According to the principle of "affordability and sustainability", establish a scientific rent pricing mechanism. According to local conditions, focusing on the net inflow of population into cities, we will implement the main responsibility of cities and accelerate the development of affordable rental housing.
According to the relevant person in charge of the Ministry of Housing and Urban-Rural Development, before the end of October this year, the urban people’s government should determine the objectives and policies and measures for the construction of affordable rental housing in the 14 th Five-Year Plan, formulate an annual construction plan, and announce it to the public. In big cities with many new citizens and young people, high housing prices or rising pressure, during the "Fourteenth Five-Year Plan" period, the proportion of new affordable rental housing in the total supply of new housing should strive to reach more than 30%.
Regarding the development of affordable rental housing, Yan Rong, president of Shanghai Real Estate Research Institute, believes that local governments should take the initiative to do a good job in housing security for new citizens and young people, and give priority to the people with housing difficulties who are engaged in basic public services among new citizens. In terms of strategy, we should adjust measures to local conditions. The city government can make a real assessment of the housing development in this city, understand and master the real demand of affordable rental housing, and insist on proceeding from reality and adhering to goal orientation and problem orientation. It is necessary to coordinate the departments of land, finance, taxation, finance and other professional institutions such as water and electricity to form a sustainable development mechanism to promote affordable rental housing. (Economic Daily-China Economic Net reporter Yu Shu)