1. In Guangzhou, the minimum amount for early repayment of online housing loans is 0.05 million yuan? Reporters have learned from various ICBC branches that there are differences in the execution standards for early repayment of loans in different areas.

Recently, a existing mortgage borrower in Guangzhou expressed on social media that the minimum amount to start repaying the mortgage online in the Guangzhou area is 0.05 million yuan. The Guangzhou branch responded that there is no minimum amount for early repayment of personal housing loans, whether it is done online or offline. The above situation is due to a system upgrade in the branch, and it has now returned to normal. In addition, the reporter has learned from multiple sources that ICBC's different regional branches have different standards for early repayment of mortgage loans. For example, in Shanghai, the minimum amount for partial early repayment is 6 times the monthly installment, while in Shenzhen, the minimum amount for early repayment is 0.01 million yuan, and Beijing has no amount restrictions.

2. 110 new housing projects in Chengdu have joined the "trade-in" program.

The Chengdu Residence and Real Estate Association revealed that after the launch of the "trade-in" activity for housing in Chengdu, there has been a strong response from the public. Up to now, the number of customers visiting the projects of more than a thousand participants in the activity has significantly increased, and the listing and transaction volume of second-hand houses have also increased. Up to now, 110 new housing projects and 64 real estate agencies have joined, providing citizens with more choices in terms of sectors and prices.

3. The pressure of housing costs is increasing, and affluent countries are facing high challenges and voters' concerns.

According to the Financial Times, Gallup Analytics data shows that in affluent countries, people's dissatisfaction with housing costs has reached a record high, surpassing concerns about medical care and education and other aspects. Half of the respondents in OECD countries expressed dissatisfaction with the supply of affordable housing. Researchers attribute the affordability crisis in part to the lack of new housing construction. Willem Adema, senior economist at the OECD Department of Social Policies, said that our construction is not enough, and developers often target wealthier families, which exacerbates the pressure on low-income families. Dissatisfaction with housing issues will play an important role in this year's elections, especially in the United States, where voters will vote in November. In the UK, the current house prices are eight times the average annual wage. This ratio is more than twice as high as when the Labour government came to power in 1997. In the UK, the number of families living in temporary accommodations has also reached a record high.

4. Jiangxi Ruijin introduces the "17 measures" for real estate, dynamically adjusting the transaction taxes and fees for existing houses.

Jiangxi's Ruijin has introduced a new real estate policy called '17 Regulations', which involves implementing phased home purchase subsidies, fully implementing housing ticket placement, promoting the clearance of commercial inventory, dynamically adjusting the tax calculation prices for existing housing transactions, and handling 'work exchange houses' and 'foreclosed houses' in a prudent manner. The tax calculation prices for existing housing transactions will be dynamically adjusted. When the market prices of newly built commercial properties in Ruijin have consecutively decreased for three months and the cumulative decrease exceeds 10%, the Municipal Taxation Bureau will timely adjust the tax calculation prices for existing housing transactions, facilitating property exchange.

5. The Hong Kong SAR Government has launched a subsidy program to alleviate the financial pressure on 'simplified public housing' tenants.

The Housing Department of the Hong Kong SAR Government launched the "Simplified Public Housing Tenant Special Subsidy Pilot Scheme" on the 3rd, providing one-time special subsidies to tenants moving into 'simplified public housing' to ease their financial pressure during relocation and adaptation to new living environments. The pilot scheme will last for two years. According to the standards announced by the Housing Department, the subsidy will vary according to the geographical location of the 'simplified public housing' and the number of occupants, with the subsidy for projects located in the New Territories of Hong Kong (except for Tuen Mun) being approximately twice that of projects located in the urban and extended urban areas of Hong Kong (including Tuen Mun). The maximum subsidy amount can reach HK$12,550. As of now, 8 'simplified public housing' projects have been completed, and it is estimated that the number of eligible households will reach 0.021 million. (China News Service)

6. Rents in first-tier cities rose for the third consecutive month, signaling a warming trend in the housing rental market.

Amid the overall recovery of the real estate market, changes have quietly occurred in the housing rental market. On September 3rd, the "40 City Rental Index Monthly Report" released by the Lianping Big Data Research Institute showed that the average listing price of rentals in 40 large and medium-sized cities in the country was 34.89 yuan per square meter per month in August 2024, a 0.24% increase from the previous month. The analysis behind this increase reveals the delayed effect of the August graduation season, leading to an overall rise in rentals on the basis of stability in July. This is mainly driven by the continued active demand for rentals in core first- and second-tier cities. Yan Yuejin, deputy director of the E-House Research Institute, stated that August saw an increase in the number of university graduates seeking employment, which in turn boosted the demand for rental housing. The graduation season effect has played a supporting role in the rental housing market. (Beijing Business Daily)

7. Shenzhen's second-hand housing transactions in August: prices are stabilizing, while the inventory continues to grow.

Affected by the traditional off-season for sales, both the activity of second-hand and new housing transactions in Shenzhen decreased in August. However, from a data perspective, the transaction volume in the second-hand housing market remained stable around the balance line. The month-on-month changes in the new housing market showed a slight decline, but compared to the same period last year, the transaction volume showed a certain increase. According to statistics from the Shenzhen Real Estate Intermediary Association, in August, the total number of second-hand housing transactions in Shenzhen was recorded at 4,671 units, a 13.2% decrease from the previous month, and a 50.0% increase from the same period last year. The Shenzhen Real Estate Intermediary Association pointed out that with the weakening effect of real estate policies and some potential consumers entering the market during the "policy cycle," coupled with the current traditional off-season for transactions, the final result was a certain degree of decline in the transaction volume of second-hand housing in August. However, in terms of the absolute value of the second-hand housing transaction volume in August, exceeding 4,500 units, it still remains at a relatively "high" level within the year. (The Paper)

8. Nankang District, Ganzhou City, Jiangxi Province: Real estate companies can buy back the supporting talent housing from the government and convert it into commercial properties for sale.

The Nankang District of Ganzhou City, Jiangxi Province, issued the '17 Measures to Vigorously Promote the Stable and Healthy Development of the Real Estate Market,' which involves phased home purchase subsidies, differentiated home purchase subsidies for families with children, deed tax subsidies, housing ticket placement, and 'old-for-new' programs. The document states that it allows the supporting talent housing to be converted into commercial properties for sale. It permits the undeveloped and under construction yet undelivered talent supporting housing to be kept unchanged in terms of the original plan. The development companies can negotiate with the government to buy it back at a price not lower than the land cost plus construction cost and convert it into commercial properties for sale. The repurchase payment can be made in a lump sum or in installments. (Nankang Housing and Construction Bureau)

In August, there were 3,654 residential property transactions in Hong Kong, a year-on-year increase of 12.5%.

On September 3, the Hong Kong Land Registry released the statistical data for August 2024. The data shows that a total of 4,729 types of property transactions were registered with the Land Registry in August, a decrease of 10.1% compared to July, and an increase of 1.5% compared to August of the previous year. The twelve-month moving average for property transactions in August was 4,934, an increase of 0.1% compared to July, and a decrease of 2.1% compared to August of the previous year. The total value of property transactions in August was 34.3 billion yuan, a decrease of 19.6% compared to July, and a decrease of 1.6% compared to August of the previous year. Among these transactions, there were 3,654 residential property transactions, a decrease of 1.9% compared to July, and an increase of 12.5% compared to August of the previous year. The total value of residential property transactions in August was 28.5 billion yuan, a decrease of 20.2% compared to July, and a decrease of 0.6% compared to August of the previous year. The number of property searches by citizens totaled 396,458, an increase of 0.1% compared to July, and a decrease of 11.7% compared to August of the previous year.

According to Centaline Property, property prices in Hong Kong have fallen nearly 5% so far this year, marking the longest decline since the SARS outbreak in 2003.

On September 3, Chen Wing-kee, Vice Chairman and President of the Residential Department of Centaline Property Asia-Pacific, said that property prices in Hong Kong have fallen for two consecutive years, with a further decline of nearly 5% so far this year, marking the longest decline in the property market since the SARS outbreak in 2003. Currently, nearly 20% of the 138 major large-scale housing estates in Hong Kong have seen prices fall below 0.01 million yuan per square foot. After the government announced the comprehensive removal of property cooling measures at the end of February this year, the market initially turned bullish. However, after a large amount of purchasing power was absorbed, the property market lost its momentum. As September approaches, the market is hopeful for an interest rate cut, but developers have continued to lower prices and clear inventory. Recently, there have been consecutive price cuts and promotions for new developments in the urban area, with price reductions of up to 40%, putting greater pressure on second-hand property prices. The latest Centaline City Leading Index (CCL) was 138.17 points last week, a weekly decline of 0.32%, marking four consecutive weeks of decline and a cumulative decline of over 2%, reaching a new eight-year low. The current property market has fallen by more than 28% from its historical high of 191.34 points in 2021. In recent years, rents have risen against market trends, reflecting in some way the lack of confidence among some citizens in the future market, who prefer to rent rather than enter the market temporarily. According to data from the Rating and Valuation Department, property prices in Hong Kong have fallen for two consecutive years, by 15% and 7% in 2022 and 2023 respectively, and have accumulated a decline of 4.7% in the first seven months of this year. Chen Wing-kee said that with the expected interest rate cut in the United States starting in September, it is anticipated that the property market in the fourth quarter will rebound, with prices stabilizing and even recovering the losses from this year, giving the opportunity for the annual property prices to "break even". The last longest decline in the Hong Kong property market occurred from 1998 to 2002. In 1997, the Asian financial crisis caused the Hong Kong property bubble to burst, and property prices plummeted, reaching their lowest point during the SARS outbreak in 2003. According to the property price index published by the Rating and Valuation Department, the index reached 155 points in December 1997 and then fell for five consecutive years until December 2002, reaching 64.8 points, a cumulative decline of nearly 60%. The largest decline occurred in 1998, with a 33% drop in property prices in one year. The sharp drop in property prices led to a rapid increase in negative equity cases, exceeding one million cases. After more than 20 years, Hong Kong's property market is facing another crisis, with the number of negative equity cases exceeding 0.03 million, equivalent to one-third of the peak in 2003.