Beijing adjusts and optimizes the purchase policy, and the down payment ratio of the first suite is reduced to 30%.

　　The "boots" for the adjustment and optimization of Beijing’s housing purchase policy have finally landed. In order to meet the requirements of "better meeting residents’ rigid and improved housing needs", on December 14th, Beijing Municipal Commission of Housing and Urban-Rural Development, Beijing Branch of People’s Bank of China, Beijing Supervision Bureau of State Financial Supervision and Administration, Beijing Housing Provident Fund Management Center and Beijing Taxation Bureau of State Taxation Administration of The People’s Republic of China jointly issued the Notice on Adjusting and Optimizing the Ordinary Housing Standards and Personal Housing Loan Policies in this Municipality, adjusting the down payment ratio of the first suite and the second suite, and reducing the down payment ratio of the first suite to 30% and the second suite to 30%.

　　In addition, the lower limit of the new mortgage interest rate policy of commercial banks will also be adjusted. According to the November loan market quotation rate (LPR), the lowest interest rate of the first home loan is 4.2%.

　　Excellent policies better meet the reasonable housing demand

　　The market has been waiting for a long time to adjust and optimize the real estate policy.

　　At the the Political Bureau of the Communist Party of China (CPC) Central Committee meeting held on July 24th, when talking about the real estate market, it was put forward for the first time that the real estate policy should be adjusted and optimized in time to meet the rigid and improved housing demand of residents.

　　A month later, on August 31st, the People’s Bank of China and the State Financial Supervision and Administration Bureau issued the Notice on Adjusting and Optimizing Differentiated Housing Credit Policies, which clarified that the minimum down payment ratio of the first set of commercial personal housing loans should be no less than 20%, and that of the second set of commercial personal housing loans should be no less than 30%. According to the real estate market situation and local government regulation requirements, cities can independently determine the minimum down payment ratio and the lower interest rate limit of the first and second sets of commercial personal housing loans.

　　"Following ‘ Admit the house but not the loan ’ Later, the adjustment of relevant policies this time is not only to implement the spirit of the documents of the central bank and the State Financial Supervision and Administration, but also to adapt to the actual situation of the Beijing real estate market, with the aim of better meeting the demand for rigid and improved housing. " The relevant person in charge of the Municipal Housing Construction Committee said.

　　The down payment for the first suite is unified to 30%

　　One of the major contents of this optimization is to reduce the down payment.

　　Beijing’s current policy is that individuals who purchase commercial housing other than policy housing, whether using commercial housing loans or provident fund loans, distinguish between ordinary houses and non-ordinary houses, the first suite and the second suite, and implement different down payment ratios. Specifically, when individuals purchase the first suite, the down payment ratio for ordinary houses is 35%, and that for non-ordinary houses is 40%. When individuals buy a second suite, the down payment ratio for ordinary houses is 60%, and that for non-ordinary houses is 80%.

　　"The implementation of differentiated down payment ratio is to curb investment speculative demand and implement ‘ Don’t speculate if you live in a house ’ The regulatory measures taken by positioning have indeed stabilized market expectations from the time, and the property market has cooled down rapidly. " According to the analysis of insiders, as the market situation changes, continuing to implement the standards of that year will indeed hurt some buyers, especially improved buyers.

　　The notice pointed out that since the implementation of the new regulations, individuals who purchase commercial housing other than policy housing, whether using commercial housing loans or provident fund loans, no longer distinguish between ordinary houses and non-ordinary houses, and the down payment ratio of the first suite is 30%; The second suite is divided into six urban districts and six non-urban districts, and the down payment ratio is 50% and 40% respectively. At the same time, the maximum loan life has also been restored from 25 years to 30 years.

　　"The down payment ratio of housing purchased outside the six districts of the city is slightly lower, which not only meets the requirements of Beijing’s urban function and layout optimization and adjustment, but also combines the actual land supply in recent years to promote the balance between occupation and residence." The relevant person in charge of the Municipal Construction and Construction Committee introduced that in recent years, Beijing’s land supply has focused on urban sub-centers and plain new cities such as Shunyi, Daxing, Yizhuang and Changping.

　　The reporter took Mr. Wang, a citizen, as an example. Because he has two children, he is going to buy a second suite in Daxing, with a house price of 8 million yuan. According to the new regulations, the down payment ratio was reduced from 80% to 40%, a decrease of 3.2 million yuan.

　　Adjusting the standard ordinary residential identification no longer looks at the total price.

　　Another content of this optimization is to adjust the identification standard of ordinary houses.

　　The current identification standard for ordinary houses in Beijing was formulated in 2014, which includes three aspects: the floor area ratio of residential buildings is above 1.0 (inclusive); The single building area is below 140 square meters (inclusive); The actual transaction price is lower than the determined price standard, in which the unit price within the Fifth Ring Road is lower than 39,600 yuan/m2 or the total price is lower than 4.68 million yuan, the unit price between the Fifth and Sixth Rings is lower than 31,680 yuan/m2 or the total price is lower than 3.744 million yuan, and the unit price outside the Sixth Ring Road is lower than 23,760 yuan/m2 or the total price is lower than 2.808 million yuan.

　　The standard for the identification of ordinary houses, which has been used for 9 years, is no longer applicable to the current situation. Previously, some buyers reported that the family had three children who wanted to change a bigger house, but they did not meet the standard of ordinary housing, and the whole family was under great pressure.

　　According to a data from the Central Finger Research Institute, in 2022, the average total price of new commercial housing transactions outside the Fourth Ring Road to the Fifth Ring Road, the Fifth Ring Road to the Sixth Ring Road and the Sixth Ring Road in Beijing was 9.14 million yuan, 6.1 million yuan and 3.95 million yuan respectively, all higher than the standard of ordinary housing.

　　How to identify new ordinary houses? According to the notice, three aspects still need to be met: the floor area ratio of residential buildings is above 1.0 (inclusive); The single building area is below 144 square meters (inclusive); The actual transaction price is lower than the determined price standard, of which the unit price within the Fifth Ring Road is lower than 85,000 yuan/square meter, the unit price between the Fifth and Sixth Rings is lower than 65,000 yuan/square meter, and the unit price outside the Sixth Ring Road is lower than 45,000 yuan/square meter.

　　The reporter noted that compared with the old and new standards, the biggest change lies in the price, not only the upper limit of the unit price of each link has been significantly improved compared with before, but also the total price is no longer looked at. "If we only look at the unit price and not the total price, it will benefit more ‘ Sell small and buy big ’ The improved family is not injured by accident because of the upper limit of the total price; Second, it is conducive to controlling the unit price changes of small units in some areas. " Some experts believe that.

　　Institutional sources predict that after the implementation of the new standards, the number of commercial houses that can be recognized as ordinary houses in the market will increase from about 30% in the past to about 70%.

　　What are the benefits to buyers after the adjustment of the standard of ordinary residential identification? The reporter learned that in second-hand housing transactions, ordinary houses are linked to tax incentives, the most important of which is value-added tax. According to the regulations, ordinary houses sold by individuals for more than 2 years are exempt from value-added tax; For non-ordinary houses sold by individuals for more than 2 years, value-added tax is levied on the difference, and the tax rate is 5%.

　　According to the notice, buyers can enjoy tax incentives according to the new standards from January 1, 2024.

　　The lowest interest rate for new mortgage loans is 4.2%.

　　The interest burden of new houses will also be reduced. The reporter learned that the lower limit of the new mortgage interest rate policy of commercial banks will also be adjusted, and the new commercial personal housing loans will be implemented from December 15.

　　Specifically, the lower limits of interest rates for the first and second suites in the sixth district of the city are not less than the corresponding period LPR+10BP (basis point) and LPR+60BP； respectively; The lower limit of interest rates for the first and second suites in non-urban six districts is not less than the corresponding term LPR and LPR+55BP respectively. Compared with the lower limit level of interest rate of the first suite LPR+55BP and the second suite LPR+105BP before adjustment, it is obviously lowered.

　　The latest November LPR quotation released by the central bank shows that the LPR for more than five years is 4.2%. According to this calculation, the lower interest rates of the first suite and the second suite in the six districts of the city are 4.3% and 4.8% respectively; The lower limits of interest rates for the first and second suites in non-urban six districts are 4.2% and 4.75% respectively.

　　It is reported that banks should reasonably determine the interest rate level of each new mortgage according to the policy lower limit determined by the self-discipline mechanism of market interest rate pricing in Beijing, combined with factors such as the operation of the institution and the risk status of customers, and in accordance with the principles of marketization and legalization.