Source: Securities Times Author: Wu Jiaming
Following Shanghai and Guangzhou, Shenzhen has become another first-tier city that has cut down the down payment and interest rate.
On the evening of May 28, the reporter learned from the Shenzhen Housing and Construction Bureau that in accordance with the policy spirit of the “Notice of the People's Bank of China and the State Financial Supervisory Administration on Adjusting the Minimum Down Payment Ratio Policy for Personal Housing Loans” and “Notice of the People's Bank of China on Adjusting the Interest Rate Policy for Commercial Personal Housing Loans” and the principles of policy policies based on the Shenzhen Municipal Government's regulatory requirements, Shenzhen has lowered the minimum down payment ratio and lower interest rate limit for personal housing loans starting May 29.
Among them, the minimum down payment ratio for personal housing loans for the first housing unit was adjusted from 30% to 20%, and the minimum down payment ratio for personal housing loans for the second housing unit was adjusted from 40% to 30%. The lower interest rate limit for commercial personal housing loans for the first housing unit was adjusted from the original LPR-10BP to LPR-45BP, and the lower interest rate limit for commercial personal housing loans for the second housing unit was adjusted from the original LPR+30BP to LPR-5BP.
This adjustment is conducive to lowering the threshold for households to buy homes, reducing repayment burdens, and better meeting residents' rigid housing needs and diversified demand for improved housing. According to the data, after Shenzhen lowered the interest rate on commercial housing loans, the interest rate for the first home loan fell to 3.50%; the interest rate for the second home was reduced to 3.9%.
According to the latest data released by the Shenzhen Real Estate Agents Association, the number of second-hand housing units recorded in Shenzhen last week was 1204, a decrease of 2% over the previous week. It is worth noting that the amount recorded here is calculated based on the time the second-hand housing sales contract was initiated. It is not the final number of units sold. Therefore, compared with online signing data, this data can reflect market trends in a timely manner.
The Leyoujia Research Center believes that this time, Shenzhen has fully followed the principles of the policy policy policy, combined with the current situation in the Shenzhen property market, and made good use of the policy toolbox. By reducing the down payment factor, reducing the initial capital buyers need to pay, and lowering the threshold for buying a home, in addition to lowering commercial loan interest rates, it has reduced residents' subsequent housing consumption burden and increased their will and ability to spend on housing. Reduced pressure on down payments and mortgages, and “price for volume” is still the main characteristic of the current Shenzhen property market. Housing purchase costs for Shenzhen residents will be significantly reduced, transaction activity in the real estate market will increase, and transaction volume will improve.
Li Yujia, chief researcher at the Guangdong Housing Policy Research Center, believes that the need to limit leverage has declined. Currently, we are facing weak demand for credit and weakening leverage power. This has led to the deterioration of the financial accelerator effect. There is an urgent need to repair the leverage momentum. The first choice is to reduce the down payment ratio.
edit/lambor