More than 20 cities' housing provident fund "housing subscription without loan subscription" relay introduced to accelerate bank loan disbursement
2023-11-10
The policy of "buying a house without buying a loan" is extending to the housing provident fund field. More and more cities have made it clear that housing provident fund implementation requires no mortgage subscription. According to incomplete statistics by Securities Daily reporters, as of November 8th, more than 20 cities, including Shanghai, Zhengzhou, Chengdu, Hangzhou, etc., have implemented provident fund "housing subscription without loan subscription". Chen Wenjing, Director of Market Research at China Securities Research Institute, told Securities Daily that the implementation of the policy of "buying houses without buying loans" for housing provident fund in multiple regions reflects the more flexible implementation of policies in various cities, revitalizing housing provident fund, further supporting the release of rigid and improved housing demand, and also in line with the policy direction of supporting residents' reasonable housing demand, which is conducive to reducing the pressure on homebuyers to purchase and boosting their purchasing mood, Promote market repair. On November 7th, the Housing and Urban Rural Development Bureau of Wuzhou City, Guangxi Zhuang Autonomous Region issued the "Notice on Further Promoting the Stable and Healthy Development of the Real Estate Market in Wuzhou City (Draft for Soliciting Opinions)" (hereinafter referred to as the "Draft for Soliciting Opinions"), which involves the implementation of housing subsidies, the implementation of "housing subscription without loan subscription", and support for the withdrawal of provident fund for down payment. Prior to this, many hot cities had already made it clear that housing provident fund "does not require mortgage subscription". On October 31, the Beijing Housing Provident Fund Management Center clarified that starting from November 1, 2023 (inclusive), Beijing housing provident fund loans will be subject to the principle of "no commercial loans for house purchase". On October 17th, Shanghai also made it clear that housing provident fund loans are subject to the principle of "no need to subscribe for housing", which means that if the employee's family has no housing in Shanghai, has not used housing provident fund personal housing loans nationwide, or the first housing provident fund personal housing loan has been settled, it will be recognized as the first set of housing. Zhuhai issued a notice on October 7th, stating that from now on, Zhuhai's housing provident fund "does not need to subscribe for loans". When handling individual housing loans and combination loans for housing provident fund, the number of household housing units shall be recognized according to the principle of "housing subscription does not need to subscribe for loans", and the number of housing units shall be recognized according to the existing complete housing units within the administrative area of Zhuhai City. According to data from China Index Research Institute, as of November 8th, more than 250 policies related to housing provident fund have been introduced in various regions this year. More than 30 cities have optimized the "housing and loan subscription" standards for housing provident fund loans, with over 20 cities implementing the "housing subscription without loan subscription" policy. Li Yujia, Chief Researcher of the Housing Policy Research Center of Guangdong Provincial Institute of Urban Planning, told Securities Daily that the use of housing provident fund "subscription without loan subscription" will promote the release of some effective purchasing power, especially for those who used commercial loans in the early stage but accumulated a lot of provident fund contributions in the later stage. Chen Wenjing believes that optimizing housing provident fund policies has been one of the main means for various regions to support the development of the real estate market and promote demand release in the past two years. The intensity and pace of the regulation of housing provident fund policies in various regions mainly depend on the performance of the local market and the use of housing provident fund. In the short term, various regions may continue to implement policies based on their own actual use of housing provident fund, optimize housing provident fund related policies in cities or continue to expand, optimize the recognition standards for second homes, reduce the down payment ratio, and support the conversion of commercial housing provident fund policies to public housing, which are still important directions for current adjustment of housing provident fund policies in various regions. The Securities Daily reporter learned that recently, the issuance speed of commercial loans for home purchases has significantly increased compared to the past. Except for business
Edit：Hou Wenzhe Responsible editor：WeiZe
Source：Securities Daily
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