After receiving the notice to lower the mortgage interest rate, Zhang Liang immediately applied to the bank for an adjustment of the stock housing interest rate for the "second house to first house" conversion. After calculation, his monthly payment has decreased by 2580 yuan. The monthly cash flow is more abundant, and he began to pay attention to the information of major real estate projects. Since the beginning of this year, policy measures to support the stable and healthy development of the real estate market have been continuously introduced. On August 30th, Guangzhou and Shenzhen took the lead among first tier cities in implementing the policy of "buying a house but not a loan". Subsequently, they lowered the interest rate on existing first home loans, adjusted Guangzhou's purchase restriction policy, and changed the exemption period for value-added tax on second-hand houses from 5 years to 2 years, among other new policies in the real estate market. From October 30th to 31st, the Central Financial Work Conference was held in Beijing, further emphasizing the need to promote a virtuous cycle between finance and real estate, and better support the demand for rigid and improved housing. September and October are the traditional peak seasons for real estate sales. How has the impact of the intensive introduction of new policies in the real estate market in the past two months been? The reporter's investigation found that the policy effect is gradually being transmitted to the market side. According to the relevant data released by the financial regulatory authorities recently, the negative growth trend of housing loans in the first two months has been reversed in September. Among them, the balance of personal housing loans in Guangdong increased by 26.7 billion yuan in September, the largest increase since February 2022. In addition, reporters found during on-site visits to major real estate projects in Guangzhou that with the implementation of policies, market expectations have been boosted and repaired. The heat of the Guangzhou real estate market is gradually increasing, especially after the lifting of restrictions, transactions in Panyu and Huangpu have significantly increased, and market confidence has been further restored. The release of favorable mortgage benefits helped to reverse expectations. In mid October, after intensive testing during the National Day holiday, Zhou Wei purchased a large second-hand house in Tianhe, Guangzhou. Due to having previously purchased a house in his hometown and having a mortgage record, Zhou Wei, who was limited by the principle of "both housing and mortgage", needed a 40% down payment to purchase a house again. He chose to stay in Guangzhou and rent a house with his family. After the implementation of the new policy of "buying a house but not a loan", the down payment was reduced by 10%. He decisively chose to take action, making work and life more convenient now. Zhou Wei is a typical "buy a house but not a loan" policy that unleashes a strong demand. In the past month or so, new policies in the real estate market have been intensively released. As part of the policies that make up the real estate market, housing finance policies have been continuously implemented. On August 25th, multiple departments jointly issued a document to promote the implementation of the "house purchase but not loan purchase" policy for the first home loan. On August 30th, Guangzhou and Shenzhen successively launched their official proclamations, firing the first shot of the first tier cities' "recognizing houses but not loans". On August 31st, the two departments jointly issued a document lowering the minimum down payment ratio and interest rate floor for the first and second housing units. On September 25th, the interest rate adjustment of existing housing was officially implemented. The reduction in interest rates on existing first home loans has exceeded market expectations, with a wider coverage of the population. According to the latest data disclosed by the Guangdong Provincial Branch of the People's Bank of China, the adjustment of interest rates for Guangdong's existing first home loans is nearing completion, and the vast majority of eligible borrowers have already enjoyed policy incentives. Customers who need to be approved one by one are expected to complete the adjustment within a month. As of the end of September, Guangdong Province has completed a reduction in interest rates on 4.28 million outstanding personal housing loans worth 2.85 trillion yuan, with an average reduction of 71 basis points. Guangdong households reduce interest expenses by approximately 20 billion yuan annually. Currently, the stock of individual housing in Guangdong
Edit：Hu Sen Ming Responsible editor：Li Xi
Source：GD TODAY
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