Friday, March 25, 2016

New deal released late at night in the property market in Shenzhen nonresident

Following Shanghai in four cities after the first real estate deal announced in Shenzhen "hit" the adjustment in the property market.

The night of March 25, General Office of Shenzhen Municipal Government issued on perfecting the housing guarantee system and promote a stable and healthy development of the real estate market, and a total of six, of which social security from one to three years on rumors for a long time has finally been confirmed.

Provides that residents of this municipality family (including some members of the family for the families of the city residents) restriction of 2 sets of houses can be calculated from the date of purchase provided the first 3 years and above during the continuous payment of personal income tax or social security proof of non-residents of the city family, restriction of 1 units. Overseas institutions and individuals, in strict accordance with relevant policy implementation. Purchase time finds that the competent departments of real estate information system network in this city to sign the purchase contract shall prevail.

And in implemented difference of housing credit policy aspects, content provides: on purchase people family name in this city no room and near 2 years within no housing loan records of, loan down payment proportion still continues to implementation minimum 30%; on purchase people family name in this city no room but near 2 years within has housing loan records of or in this city has a housing but has settled corresponding housing loan of, loan down payment proportion implementation minimum 40%.

According to the latest statistics released by 70 city housing price data shows that house prices in Shenzhen rose 3.6%, up 57.6% from a year, are among the highest in the country. At this point, the Shenzhen housing prices have been rising for 15 months.

Faced with rising home prices in Shenzhen since February this year, there are rumors that Shenzhen will enact policies to control prices after the lunar new year, such as social security to one to three years, down 5%, exemption of business tax from two years to five years. Why short term boom of the property market Economist

Down payment loans are considered to be Shenzhen round the property market boom fuelled by the added leverage. In the new deal, in response to this phenomenon, provided the opinion, continue troubleshooting and rectification of financial risk, no Internet financial companies, small loan companies and other financial institutions engaged in deposit loan, raising home buyers, bridge loans and other financial leverage with Chinese business.

Shenzhen Municipal Government financial regulators also down-payment loan business regulation.

Shenzhen Association of Internet Financial Secretary General Zeng Guang said Shenzhen's "down payment loan" line between 2 billion and 3 billion yuan, the recommended suspension of incremental, clearing stock, quit after the expiration.

On March 4, the Shenzhen Finance Office issued a financial risk of real estate industry letter. That, "now for the overheated real estate market in Shenzhen, banking, P2P, small loan companies and other organizations have been involved in down-payment loan, highly leveraged lending, amplified the financial risk situation, how to guard against financial risks, require Internet financial associations and small loans to the respective situation of leveraged lending under the jurisdiction of enterprise diagnostic to troubleshoot and sort out the product model and the amounts involved. "

On March 18, the Shenzhen financial requirements, Shenzhen Internet financial Association issued a content provision: from now on, the city's enterprises is strictly prohibited new "chip speculation". For the stock business, and immediately terminated and cleaned up. Any business shall not, by changing the "names", the author continued to operate below the to line. Notice that under such acts increased the price fluctuation probability of default, easily lead to systemic financial risk, financial market instability to Shenzhen.

In addition to the down payment loans and leveraged loans home buyers are believed to be pushing up house prices in Shenzhen initiative.

Shenzhen Central subbranch of Central Bank data shows, at the end of December 2015, individual housing loans in Shenzhen totaled 742 billion yuan, an increase of 40%. In 2015, new individual housing loans of 340.8 billion yuan, an increase of 2.1 times.

Outside the regulation policy, Shenzhen, Shenzhen's official position has been to take measures to control prices.

On February 4, the Mayor of Shenzhen Xu Qin at the six session of the national people's Congress of Shenzhen City said at a press conference, second session, Shenzhen prices rise too fast, the Shenzhen Municipal Government is working on policies to ensure that housing prices at a reasonable range.

On February 24, Shenzhen construction Bureau Yang shengjun, participation in the political platform interactive reply "livelihood QR" activities, said that Shenzhen Government is taking measures to control housing prices.

On February 26, Qiao Hengli, Deputy Director of the Shenzhen urban planning and land Authority said in media interviews, Shenzhen will continue to implement the housing restriction policy, strictly control the investment of speculative demand, actively increase the supply of ordinary commercial housing.

Following is the full text of the opinion:

Office of the people's Government of Shenzhen Municipality on perfecting the housing guarantee system to promote the steady and sound development of the real estate market

Deep house (2016), 12th

The district people's Government and units directly under the municipal government:

As a follow-up to the national classification of the real estate market regulation, because town planning requirements, boost housing supply side structural reforms agreed by the municipal government, improve the city housing security system, promoting the stable and healthy development of the real estate market made the following comments:

First, increase the housing supply

Efforts to increase housing supply, by increasing the supply of residential land, utilizing idle land, increase the intensity of urban renewal and slum, from the supply side to speed up housing supply, balancing supply and demand.

Second, improve housing security system

Efforts to increase construction of affordable housing projects, "Thirteen-Five" during the city's mobilization to build 400,000 units, effective supply 350,000 personnel housing and affordable housing, to further improve multi-channel, multi-level and wide coverage of the housing security system.

Third, implement differentiated housing credit policies

Purchase family name in this city and has no record of housing loans in the last 2 years, loan payments to continue implementing the minimum 30%; buyers no family name in this city but for the last 2 years there will be housing loans or has a house in this city but had to settle home loan, loan down payment the minimum 40%.

People's Bank Center of Shenzhen branch of CBRC, Shenzhen Classification Guide commercial banks to adjust their minimum down payment of housing loans, commercial banks should be strictly enforced and further strengthen credit risk control of housing.

Four, complete purchase policy

Residents of the city family (including some members of the family for the families of the city residents) restriction of 2 sets of houses can be calculated from the date of purchase provided the first 3 years and above during the continuous payment of personal income tax or social security proof of non-residents of the city family, restriction of 1 units. Overseas institutions and individuals, in strict accordance with relevant policy implementation. Purchase time finds that the competent departments of real estate information system network in this city to sign the purchase contract shall prevail.

Five, regulate the order of real estate market

Credit management system construction of strengthening the city's real estate industry, enterprises operating in China and good faith. Promoting integrity in the city information network, form a monitoring force to achieve administrative supervision and self-discipline of the linkage. Resolutely combating and investigating the false "CD", "cover your property hoarding", "contract of yin and Yang" and other violations, regulate conduct of intermediaries and practitioners.

Six prevention and control, strengthening the financial risk of real estate

Combined with the city's down-payment loan risk in the early investigation, continue troubleshooting and rectification of financial risk, no Internet financial companies, small loan companies and other financial institutions engaged in deposit loan, raising home buyers, bridge loans and other financial leverage with Chinese business. Industry associations should exert the discipline features, guide specifications such as finance companies, small loan companies operating on the Internet. Commercial banks should strengthen the home buyers down payment sources of verification.

The views come into effect as of the date.

Office of the municipal government

The March 25, 2016