After the Ministry of Housing and Urban Rural Development proposed the measure of "buying houses but not buying loans" for personal housing loans, Zhengzhou became the first city in second tier cities to declare the implementation of "buying houses but not buying loans". The most concerned first tier cities, Beijing, Shanghai, Guangzhou, and Shenzhen, have all released positive signals, but there is no detailed implementation plan yet. On August 6th, a reporter from Securities Daily inquired with relevant staff of some banks in first tier cities. As of the press release, multiple banks have stated that they have not received any notification regarding the implementation of the "house purchase but not loan purchase" policy. Some banks also told reporters, "First tier cities are only expressing their opinions but have not yet introduced specific policies. On August 3rd, the Zhengzhou Housing Security and Real Estate Management Bureau and other departments issued the "Notice on Further Promoting the Stable and Healthy Development of the Real Estate Market in Our City" (referred to as the "Notice"), proposing 15 measures to stabilize the real estate market and stating that they will implement the policy of "buying houses but not loans", while suspending the implementation of the sales restriction policy. Xu Yuejin, Deputy Director of Research at Zhongzhi Research Institute, told Securities Daily that Zhengzhou quickly followed up on the announcement of policy implementation, mainly due to the high inventory of the real estate market in Zhengzhou and the heavy task of ensuring the delivery of buildings. It is necessary to transmit positive signals to the market through active policy optimization to boost market confidence. The so-called "house purchase but not loan purchase" refers to commercial banks only determining the loan ratio based on whether the family has a house under their name, regardless of whether the purchasing family has a housing loan record. At present, some key cities implement the policy of "buying a house and then buying a loan", which means that in the case of "selling one, buying one", as long as there is a record of buying a house loan nationwide, the purchase of a residential property with a second loan is recognized as a second set. From the implementation of some cities that have been publicly reported after the statement of the housing and construction department, except for Zhengzhou, which was the first city to declare the implementation of "housing recognition without loan recognition", other cities have not yet announced the latest relevant policies or implementation plans. On August 6th, staff from multiple banks in Beijing told Securities Daily that they had not received any notice regarding the implementation of the "house purchase but not loan purchase" policy. At present, the original policy is still being implemented, which means that those with housing loan records nationwide, whether they are commercial loans or provident fund loans, whether settled or not, are recorded as one set. Mainstream bank staff in Guangzhou also stated that there is no specific implementation plan yet and are waiting for notification from relevant departments. Except for Beijing and Guangzhou, other first tier cities have not released the latest relevant policies. Some bank staff members stated that it will take some time and process from the introduction of policies to the confirmation and implementation of detailed rules. According to multiple real estate intermediaries, "If the policy arrangement of 'buying a house without buying a loan' in the future is to be finally implemented in cities such as Beijing, Shanghai, Guangzhou, and Shenzhen, the People's Bank of China will specifically implement the policy, especially by clearly explaining how to implement the policy of 'buying a house without buying a loan'." Regarding the implementation of the policy of 'buying a house without buying a loan', after regulatory statements, the market is also paying more attention. Especially after Zhengzhou takes the lead, will there be more first and second tier cities following up and adjusting? Yan Yuejin, Chief research officer of E-House Research Institute, told the reporter of Securities Daily that it is very likely that the policy of "house purchase rather than loan purchase" will be implemented in first tier cities. Beijing takes the lead in taking a stance on the regulation of the real estate market, which is of positive significance and can boost confidence in the real estate market and enhance market expectations
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Securities Daily
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