The shanghai city housing and urban and rural construction management board, the municipal planning and natural resources directorate and the municipal housing administration jointly issued the circular on further strengthening the management of the municipal real estate market. The circular identified seven measures, including, inter alia, strict regulation of the price of new housing for commodities, the introduction of a five-year period for the sale of some housing, with the aim of further strengthening the management of land and commodity housing markets, with a view to ensuring a smooth and healthy development of the real estate market in shanghai。
The circular explicitly introduced a sales-restriction policy for some housing units. In other words, new commodity housing, purchased by residents under the priority housing policy, may be transferred after five years have elapsed since the purchase contract network。
With regard to strengthening the management of the supply of land for residential use, the shanghai market will explicitly increase the supply of land for commercial residential use, guarantee that the land for residential use “shall be fully secured” and establish a separate plan for rental housing. At the same time, the shanghai market also requires the districts to quantify price-fixing targets and to firmly curb irrationality in order to stabilize market expectations and protect against high premiums。
The shanghai market will also deepen and refine the land-price linkage mechanism and introduce a limited bid for land concessions for commercial housing. The shanghai city planning and natural resources, housing management, etc. Will provide a joint interview alert for irrationally competitive enterprises。
The circular requires that the districts make determined adjustments to new commodity housing projects that are overpriced, effectively assume the primary responsibility for project price filing, direct development enterprises to make reasonable pricing, and firmly prevent overprice for listed sales projects。
In addition, the shanghai market will further optimize the system of online booking of housing transactions, strengthen its tax collection, financial verification of home purchases and the regulation of mortgages for new purchases; continuously regulate the behaviour of real estate intermediaries, regulate the publication of information such as second-hand housing prices, and seriously investigate practices such as the promotion of high and high prices, house prices, loans, market disruptions, etc.; and strictly regulate the purchase of commercial housing by enterprises, such as the strict review of the age limits for re-marketing of businesses and the preference of residents over enterprises when purchasing new holdings。
From china construction 2021. 03. 11 zheng tianjin
