On 1 september, the china institute of indexes published a 100-city housing price index in august, showing an average price of $10,771 per square metre for new housing in 100 cities across the country, a 0. 59 per cent decline in the ring ratio, which was the fourth consecutive month since the first decline in may。
At a time when the prices of 100 urban houses were falling, local governments were more anxious to save the market, and policies to stimulate housing consumption saving, such as tax returns, subsidized purchasers, subsidized housing companies, financial subsidies intermediaries, etc., were also more recent and highly controversial。
A number of practitioners, including zhang dawei, director-general of the ministry of research on the market for chinese estates, believe that local government rescue is becoming increasingly impregnable。
In response, chu chu, honorary vice-president of the chinese association of real estate industries, stated that classification regulation was the main line of this year's city regulation, but what was the content of classification regulation? What are the respective responsibilities of central and local governments? Is there a policy bottom line in local government classification regulations? None yet。
Part of the city has a backlash
Four months ago, 100 city house prices fell for the first time in two years and were considered to be the point of change in the city。
To date, market adjustments have continued, and the average price of new dwellings in 100 cities continued to decline in august, with the ring ratio falling by 0. 59 per cent。
Of these, the average housing price in the 10 major cities of beijing and shanghai was 19,000 yuan/m2, a 0. 53 per cent decline in the ring ratio and a fourth consecutive month。
While the downward trend in the market is still in place, the coming of the “golden-golden-golden-golden-golden-golden-golden ten” coincided with a major rebound in august in beijing and nanjing。
According to data from the beijing city housing commission, the number of new homes in beijing was over 10,000 in august, an increase of 6 per cent over july. In addition, the trade in second-hand dwellings reached 8,300 in august, the highest in the last five months。
Nanjing also saw a sharp increase of over 30 per cent in the number of trade rings in august, close to the level of the deal before the current round of price reductions, with 475 new residential nets in guangzhou, an increase of 9 per cent over the july round。
In response to some urban responses, zhang argued that the four-month adjustment period had left a large backlog of needs and affected many developers, many of whom, at the time of the arrival of the “golden 9 and silver 10”, had been able to attract home buyers to the market by giving them a discount, and that the recent surge in bail-out policies had led home buyers to worry about possible subsequent market rebound pressures。
In zhang’s view, this trend towards a return to warming may continue in the “golden and silver ten”。
In beijing, for example, the commercial residential market in beijing is expected to market 39 projects in east asia, such as sang peng tai lake, oceanwan and the four seasons, creating a new high of the year. “the increase in supply will also boost sales and is expected to lead to a new high in september.” the deputy director-general of the ahou institute is an indication。
Although there has been an increase in the volume of transactions, in the short term there has been limited momentum for the rise in housing prices, as in the case of the upcoming twilight and four seasons, the project's market director wang peng cheng introduced the project's savings situation, with 200 housing units and 400 customers, and the recent marked recovery of the beijing building。
“although the entry of home buyers has increased, the high supply has also determined high competition, making it difficult to sustain high house prices.” wang peng is of the opinion that most of the marketed projects in september will be on the market at a par or a floor, and that the projects for which he is responsible will start at the expected “floor price”。
Classification regulation needs a clear policy base line
At the beginning of the “heating back” in the cities, policies to stimulate housing consumption, such as financial subsidies for home buyers and developers, were also introduced in parts of the country, and were seen by the industry as becoming less and less vulnerable。
In the case of the seagate, for example, three times within three months, and in a recent rescue document, a real estate sales incentive mechanism was established to reward out-of-island intermediaries with a sum of $1,000 for each house with an area of 90 square metres or more, and $500 for each house with an area of less than 90 square metres, as well as $100,000 for each of the city's top 10 real estate enterprises in 2014 (netting data)。
It was also the first time in many years that incentives for intermediaries had emerged。
Kim yongxiang, managing director of the beijing consulting and limited corporation, stated that the withdrawal of administrative regulation had been instrumental in facilitating the return of the city to market, but not only had it not been withdrawn, but a new deal had been put in place, as well as a policy such as financial subsidy intermediation, which was clearly suspected of being a development company。
The classification regulation is included in the 2014 report on the work of the government and is also the main theme of the municipal regulation of this round building. What are the respective responsibilities of central and local governments? Do local governments have a policy bottom line in their classification regulation。
On the issue of the “bottom line” of local regulatory policy, chu has further analysed how to strengthen the regulation of pre-sale funds for commodity houses when markets go down and how to prevent disposals; and how to prevent the spread of rising housing prices when markets warm。
In addition, in accordance with the deployment of the 18th mid-plenum, chu expressed the importance of accelerating the advancement of long-lasting mechanisms for the sustainable and healthy development of markets. For example, the housing system, which combines market allocation and government guarantees, the establishment of a real estate registry, the creation of a national housing information network, and the active and sound promotion of property-related fiscal, financial, land and other reforms。
Responsible editor: zhang dei
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