Recently, various regions in China have made frequent adjustments and optimizations to their real estate policies, and more and more regulatory policies introduced during the overheated real estate market are gradually withdrawing. The "divorce purchase restriction" policy implemented in Beijing for nearly three years has been abolished. On the 27th, it was found through investigation that the policy document of "couples are not allowed to purchase houses in Beijing within 3 years after divorce" implemented in Beijing from August 2021 is invalid. This means that after the cancellation of the "double purchase restrictions" on housing in Tongzhou District, the housing purchase restrictions in Beijing have been relaxed once again. Li Yujia, Chief Researcher of the Housing Policy Research Center of Guangdong Provincial Urban Planning Institute, pointed out that in 2021, Beijing introduced a "divorce purchase restriction" policy with the aim of cracking down on the practice of obtaining housing qualifications through property division and transfer after divorce. At that time, several hot first and second tier cities also introduced similar policies to seal the loophole of "purchase restrictions". However, currently, the vast majority of Beijing residents purchase houses for immediate needs or for replacement purposes, and investment oriented housing purchases have been largely withdrawn. The "divorce purchase restriction" policy is no longer suitable for the new situation. Zhang Dawei, Chief Analyst of Zhongyuan Real Estate, pointed out that with changes in market conditions and supply and demand relationships, overly strict real estate policies may inadvertently harm some real housing demand. At present, the Beijing market has returned to stability, and fine-tuning these policies will not affect the direction of the real estate market, but will be conducive to stabilizing market expectations. Shenzhen starts from the supply side to meet diversified housing needs. According to multiple media reports, Shenzhen has abolished the long-standing "70/90" policy, which means that the supply of new properties in Shenzhen will no longer limit the proportion of large units. The so-called "70/90" policy refers to the requirement that the proportion of housing area below 90 square meters in residential projects must exceed 70%. Sun Hongmei, Senior Analyst at the South China Branch of Zhongzhi Research Institute, stated that the "70/90" policy aims to adjust the supply structure of the real estate market, so as to better meet the demand for residential products. However, with the changes in market supply and demand and market conditions, diversified housing demand has emerged, and policies urgently need to be adjusted in response to market changes. It is worth noting that Shanghai has also optimized the "70/90" policy in recent land transfers, increasing support for improved housing from the supply side. The recent executive meeting of the State Council proposed to further optimize real estate policies, continue to do a good job in ensuring property delivery, people's livelihood, and stability, further promote the implementation and effectiveness of urban real estate financing coordination mechanisms, systematically plan relevant support policies, effectively stimulate potential demand, increase the supply of high-quality housing, and promote the stable and healthy development of the real estate market. Industry insiders believe that this is an important signal of increased support policies for the real estate market. Zhang Dawei stated that the adjustment of purchase restrictions and other policies based on urban conditions in various regions is a concrete measure to adapt to the significant changes in the supply and demand relationship of the real estate market, which helps to boost market confidence and promote the recovery of the real estate market. (Lai Xin She)
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