Source: Gelonghui

According to the official websites of the Beijing Municipal People's Government and Housing and Construction Commission, on March 27, a notice called the “Notice of the Beijing Municipal Housing and Urban-Rural Development Commission on Further Improving the Purchase Restriction Policy for Commercial Housing” has expired.

In response to this, the Beijing Municipal Housing and Construction Commission said in response to the media that the news is true, and the “no one can buy a house in Beijing within 3 years of divorce” purchase restriction policy has been abolished as of today.

This means that in the future, buying a house after divorce will no longer be limited by the length of divorce; you can buy a house as long as other qualifications meet the requirements.

According to reports, the document was published on August 4, 2021, and since it came into effect on August 5, 2021, it has stipulated that “if a couple in Beijing divorced, and the original family owned a number of housing units that did not meet the requirements of the city's commercial housing purchase restriction policy before the divorce, no one party shall buy commercial housing in the city within 3 years from the date of divorce.”

Industry insiders said that the above policy was introduced in August 2021 to crack down on “fake divorce” home purchases. It was a policy during the previous period when the market was overheated. Now there is no speculative demand for home purchases, there is very little investment demand, and there is no market basis for continuing implementation. Fine-tune the property market purchase restriction policy to meet market expectations.

The April property market can be expected to be in Xiaoyangchun

Regarding the cancellation of this policy, Yan Yuejin, research director of the Yiju Research Institute, believes that currently, various regions are adjusting and optimizing housing purchase policies, and lifting divorce purchase restrictions is a positive direction. Such policies explain the further adjustment and optimization of housing purchase policies in first-tier cities. Essentially, they also provide more relaxed housing purchase policies for reasonable housing consumption needs.

Director Xie Yifeng said that Beijing's lifting of divorce housing purchase restrictions will help release more improvements and demand for first-time home buyers. This change will provide families with Beijing accounts with more opportunities to buy homes, and will be a major benefit for first-time buyers and those improving housing conditions.

Analyst Zhang Dawei believes that at present, the relationship between supply and demand in the real estate market has changed significantly. The real estate market in some regions has exceeded demand, and demand side potential needs to be further unleashed. All parts of the country have adjusted their purchase restriction policies in response to city policies in response to the latest changes in the property market. The aim is to boost market confidence and promote the recovery of the property market.

In response to the current Xiaoyangchun, this policy adjustment is conducive to releasing real demand for home purchases, and is expected to continue until April.

As of yesterday, the number of second-hand housing units signed online in Beijing reached 11024 units. According to current trends, it is expected to be close to 15,000 units. Overall, the popularity of Xiaoyangchun continues.

What are the expectations for future property market policies?

On March 22, Premier Li Qiang of the State Council presided over an executive meeting of the State Council to hear about optimizing real estate policies and promoting the steady and healthy development of the real estate market.

The conference clearly stated: “It is necessary to further optimize real estate policies, continue to carry out the work of securing buildings, people's livelihood, and stability, further promote the implementation and effectiveness of urban real estate financing coordination mechanisms, and systematically plan relevant support policies to effectively stimulate potential demand, increase the supply of high-quality housing, and promote the stable and healthy development of the real estate market.”

Many people in the real estate industry believe that demand-side support policies in various regions are expected to be followed up at an accelerated pace in the future. Currently, there are also voices in the market that the purchase restriction policies for non-core areas in first-tier cities may be lifted.

As to whether new policies will continue to be introduced in the next phase, Lou Jianbo, director of the Real Estate Law Research Center at Peking University, believes that before each policy is introduced, detailed and scientific research must be carried out to give reference to policy data, so that the policy can motivate the market in a more targeted manner.

Yan Yuejin, research director of the Yiju Research Institute, said that looking back at the current housing purchase policy in first-tier cities, from the second half of last year to Shenzhen's cancellation of the “7090” policy and Beijing's abolition of divorce purchase restrictions this year, it is expected that the housing purchase policy will be further relaxed in the second quarter of this year. From the perspective of homebuyers' rights and interests, it is currently very necessary to abolish some policies that are too strict. Overall, this adjustment of Beijing's housing purchase policy will have a positive effect on the market, giving some people who were not eligible to buy a home in the past but were able to buy a house an opportunity. In addition, other first-tier cities with similar policies will follow suit in the future.

Chen Wenjing, director of market research at the China Index Research Institute, told the reporter that judging from policy trends, first-tier cities may continue to optimize purchase restriction policies, second-tier cities are expected to completely abolish restrictive policies, and core cities still have room for policies such as lowering down payment ratios, lowering mortgage interest rates, and lowering transaction taxes.

Wang Qing, chief macro analyst at Dongfang Jincheng, believes that if various support policies are adjusted in a timely manner, the property market is expected to show a steady upward trend in the second half of the year, and the real estate industry is expected to end the three-year adjustment period.

Editor/jayden