Shenzhen issued a policy: push real estate speculators out of the market to return prices from disorder to order

 On March 25, the General Office of the Shenzhen Municipal Government announced the Opinions on Improving the Housing Security System to Promote the Stable and Healthy Development of the Real Estate Market (referred to as the Opinions) in the late night.），The number of years that non-Shenzhen resident families pay personal income tax or social security when purchasing a house，From 1 year to 3 years;First house paid off the mortgage，When buying a second home，The down payment will be raised from 30% to 40%。

    Zhong Shaozeng, a real estate agent in Longhua New District, said the number of people looking at second-hand homes had dropped by 50 percent in recent days。"As soon as the policy came out, many foreign investors were turned away。”

    Wang Feng, director of the Shenzhen Real Estate Research Center, said the new measures would curb speculation and "let the price of the property market return from disorder to order"。

    In Shenzhen, 70 percent of the population does not own a home

    Data from Shenzhen Municipal Commission of Planning, Land and Resources show that in February 2016, the average price of new homes in Shenzhen reached 48,095 yuan per square meter, an increase of 72 percent year-on-year.12％。

    Qiao Hengli, deputy director of Shenzhen Municipal Planning Committee, analyzed the reasons for the rapid rise in Shenzhen housing prices since last year, one is affected by macro policies, "9·30" and "3·30" two relatively loose policies, to stimulate the activity of the real estate market。Secondly, Shenzhen has less land and more people, and the supply is relatively insufficient。At the beginning of 2015, the housing destocking cycle was 12 months, and by the end of the year it had fallen to seven months。

    Song Ding, director of the tourism and real estate research center of the Shenzhen Institute of Comprehensive Development, said that Shenzhen is the only first-tier city where the proportion of the population without a house is as high as 70%, and the new housing launched every year is far from meeting the city's housing demand。

    Qiao Hengli admitted that a large number of investments and speculators have accelerated the growth rate of housing prices。Since the second half of last year, the return on housing prices has been significantly higher than other investment returns, attracting a large number of investment speculators to participate in the purchase of housing。"According to research, investment speculators have accounted for 30 to 40 percent of buyers in Shenzhen。Qiao Hengli said that these investments and speculators not only cause irrational growth in housing prices, but also affect the interests of a large number of owner-occupiers。

    Avoid irrational excessive growth in the market

    The "Opinions" introduced a differentiated housing credit policy。There is no room in Shenzhen under the name of the buyer's family，And no housing loan record in the past two years，The minimum down payment for loans will continue to be 30%;There is no room in Shenzhen under the name of the buyer's family，But anyone with a home loan in the last two years，Or has a house in the city but has settled the corresponding housing loan，The minimum down payment is 40%。

    The Opinions also introduced a differentiated housing purchase restriction policy。Shenzhen household registration residents (including some family members of the city's household registration residents), limited to purchase 2 houses;Non-resident families who can provide proof of paying individual income tax or social insurance continuously in the city for 3 years or more are limited to purchase 1 house。

    Wang Youpeng, head of Shenzhen's planning and land commission, said the aim of the new measures was to avoid irrational rapid growth in the market and "squeeze investment speculators out of the market.。Chen Aipoor, executive vice president of the Shenzhen Housing Research Institute, believes that the new measure will have little impact on families who are really able to improve their homes, "but it will have a restraining effect on investment speculators."。

    In order to ensure the stable and healthy development of the real estate market, the Opinions put forward that it is necessary to resolutely crack down on and investigate illegal behaviors such as false "daily discs", "holding discs for sale" and "Yin and Yang contracts" in accordance with the law, and regulate the business behaviors of intermediaries and practitioners。

    According to the guideline, Shenzhen will also accelerate the effective supply of housing and balance the relationship between supply and demand by increasing the supply of residential land, revitalizing idle land, and stepping up urban renewal and the renovation of rundown areas。At the same time, increase the construction of low-income housing projects, "13th Five-Year" during the city to raise the construction of 400,000 units of low-income housing。

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