The China Banking and Insurance Regulatory Commission and the Ministry of Housing and Urban-Rural Development jointly promote the expansion and improvement of the 'white list' projects, helping the real estate market to steadily rebound.

Recently, the China Banking and Insurance Regulatory Commission and the Ministry of Housing and Urban-Rural Development jointly held a policy training meeting on expanding and improving the 'white list' projects for urban real estate financing coordination mechanisms. The meeting pointed out that specialized teams at all levels and financial institutions should focus on expanding and improving the 'white list' projects as a key task in the near term, effectively strengthening organizational promotion. It is necessary to adhere to target-oriented and problem-oriented approaches, further clarify responsibilities from all sides, decisively win the battle to supply and secure houses, promote the stabilization of the real estate market. The expansion and improvement of the 'white list' projects is of great significance, conducive to further leveraging the roles of various supportive policies of the 'white list,' promoting more housing projects to be completed and delivered, safeguarding the legitimate rights and interests of homebuyers; it is advantageous to increase support for real estate project companies by commercial banks, boost confidence from all parties, and drive the stabilization of the real estate market; and beneficial to improve the full-process management of development loans for commercial banks, accelerate the construction of credit management mechanisms that align with new real estate development models. (China Construction Daily)

Starting tomorrow, several banks in Guangzhou will increase their property loan interest rates to 3%.

On November 6, a citizen reported that they received information from an agent stating that from November 7, the minimum property loan interest rate in Guangzhou will be 3.0%. In response, reporters sought confirmation from multiple banks in Guangzhou, and indeed, the new property loan interest rates will be raised to 3% on November 7. "Applications submitted today can still qualify for a rate of 2.87%" said an industry source in Guangzhou to the reporters. Previously, an investigation by reporters across multiple banks in Guangzhou found that after the 25 basis point reduction in LPR on October 21, the 5-year LPR was 3.60%, leading to a decrease in property loan rates in Guangzhou. The mainstream interest rate for first-home property loans in Guangzhou was 2.85% to 2.9%. At that time, industry insiders stated that there was a related notice, stating that the first-home property loan rate in Guangzhou should not be lower than the housing provident fund loan rate. Currently, the interest rate for first-home 5 years or more housing provident fund loans in Guangzhou is 2.85%, leading to banks adjusting their property loan rates after rate cuts. (Guangzhou Daily)

Shenzhen: The credit amount of the urban real estate financing coordination mechanism ranks among the top in major cities nationwide.

According to the Shenzhen Financial Regulatory Bureau, currently, Shenzhen banks have approved 67 'white list' projects with approved amounts exceeding 80 billion yuan, ranking high in credit amounts among major cities nationwide. It is reported that the Shenzhen Financial Regulatory Bureau and the Municipal Housing and Construction Bureau and other related departments work closely together to promote the efficient operation of the urban real estate financing coordination mechanism. Under this mechanism, various financial institutions in Shenzhen's banking industry swiftly engaged in direct communication with real estate enterprises, conducted in-depth project evaluations and feedback, continuously optimized credit approval and lending processes, ensuring that qualified projects receive full financial support, and funds are disbursed at the earliest opportunity. These measures effectively accelerate the construction and timely delivery of real estate projects, effectively protecting the legitimate rights and interests of numerous homebuyers.

In the first 10 months of the year, Yuexiu Property achieved sales of approximately 91 billion yuan, completing 61.9% of the annual target.

Yuexiu Property (00123.HK) announced that in the first 10 months of 2024, the company's cumulative contract sales (including joint venture and affiliated company projects) amounted to approximately 91.003 billion yuan, a year-on-year decrease of about 24.8%, with a total contract sales area of approximately 3.098 million square meters, a year-on-year decrease of about 16.8%. The cumulative contract sales amount accounted for 61.9% of the 2024 annual sales target of 147 billion yuan.

Beijing's land auction revenue exceeded 12.7 billion yuan, with Greentown and Yuexiu each winning a piece of land in Haidian's Gongdesi.

On November 5th, Beijing's land auction welcomed a major event. Today, a total of 3 residential land parcels were put up for auction, namely the FZX-0202-6025 land parcel for the Shantytown Reconstruction Project on the west side of Tuqiao Middle Road in Tongzhou District, the HD-GDS-001 and HD-GDS-002 land parcels for the Gongdesi Shantytown Reconstruction Project in Haidian District, with a total planned construction land area of 9867 square meters and a planned construction area of 209,378 square meters, with a total starting price of 11.246 billion yuan. The Gongdesi 001 and 002 land parcels in Haidian were highly sought after, sequentially entering the land price limit transfer to the lottery stage, ultimately being won by Greentown and XX, while the land parcel for the Shantytown Reconstruction Project on the west side of Tuqiao Middle Road in Tongzhou District was won at a bottom price by Jinke. The three residential land parcels collectively garnered a total of 12.7535 billion yuan. (Public Account 'Land Intelligence')

Foshan holds a training session for the interpretation of the policy to expand and enhance the 'whitelist' projects for real estate financing coordination mechanisms.

Foshan held a training session to interpret the policy of expanding the coverage and efficiency of the 'white list' projects in the real estate financing coordination mechanism.

Suzhou: Comprehensive promotion of the renovation and modernization of urban villages, actively implementing the purchase of existing housing for resettlement and housing resettlement.

The Suzhou urban village renovation work promotion meeting was held. Mayor Wu Qingwen emphasized the need to consider the overall situation, implement classified measures, and coordinate the planning for urban village renovations. It is necessary to fully utilize policy funds, follow the approach of 'demolishing and rebuilding, rectifying and upgrading, demolish-and-integrate', comprehensively promoting the renovation and modernization of urban villages in all areas, actively implementing the purchase of existing housing for resettlement and housing resettlement, ensuring rational allocation and effective use of resources. It is essential to grasp the principle of 'clear' requirements, 'detailed' plans, 'comprehensive' schedules, and 'practical' measures based on the characteristics of urban villages and actual project conditions, adapting to local conditions and excelling in different areas, steadily advancing the implementation of renovation projects. (Suzhou Daily)

Zhongshan City plans to fully relax the policy of household registration for property purchases, allowing applications for permanent residency after residing continuously for six months.

Recently, the Zhongshan Public Security Bureau issued a public notice soliciting public opinions on the 'Regulations on Registration and Management of Household Registration Transfers in Zhongshan City (Draft for Soliciting Opinions)'. Non-local residents holding property in Zhongshan or participating in social insurance in Zhongshan and residing continuously for more than six months can apply for permanent residency in Zhongshan.

9. Fangshan Wanquan Temple site entered the market, the first land in Beijing without a set land price cap and sales guidance price.

Recently, Wanquan Temple site in Fengtai District, Beijing, entered the market. It is understood that this is the first piece of land in Beijing since the implementation of centralized land supply in 2021, without a set land price cap and future guidance price for commercial housing. The relevant person in charge of the city's Planning and Natural Resources Commission stated that the land is a measure taken by Beijing to actively adapt to market changes and development needs after the "930 New Policy", and will further increase the land supply in areas with good location conditions, complete public service facilities, convenient transportation, and prominent market demand. At the same time, by optimizing the trading rules, it aims to attract developers with strength and ability to select high-quality land for high-quality development and construction, promoting the stable and healthy development of the real estate market. (Beijing Daily)

10. Chengdu has sold 3 residential land plots: the high-tech zone land plot was bid up by 46%, setting a record with a floor price of 26,300 yuan/square meter.

On November 6, Chengdu's central urban area welcomed the sale of 3 residential land plots. According to the transaction results, 2 of the plots were sold at the base price. The high-tech zone land plot set a new floor price with a 46% premium rate, with a total transaction amount of approximately 2.247 billion yuan for the 3 plots. The land sale information shows that the 3 land plots sold in Chengdu this time are located in the High-tech Zone, Shuangliu District, and Wenjiang District, with a total sale area of about 56,571 square meters and a starting total price of 1.594 billion yuan. The land plot in the high-tech zone attracted much attention. The land sale announcement shows that the high-tech zone land plot is located at Groups 7 and 9 of Tongpai Village, Guixi Street, with a land area of 39,301.47 square meters, a plot ratio of 2.0, a starting total price of 1414.85 million yuan, and a starting floor price of 18,000 yuan/square meter. It attracted 8 real estate companies to participate in the bidding process, with a total of 84 bids during the auction. It was finally won by Sichuan Jin Hao Investment Co., Ltd. under Yuanda at a floor price of 26,300 yuan/square meter, with a total transaction price of approximately 2.067 billion yuan and a premium rate of 46.11%. (The Paper)

11. Hong Kong Housing Authority Director Luo Shupei discusses the 0.11 million㓥 housing unit resettlement plan and progress in the Rainbow Village reconstruction.

On November 6, Hong Kong Housing Authority Director Luo Shupei stated that there are currently about 0.11 million㓥 housing units in Hong Kong, of which about 60% are eligible to apply for public housing. Based on the estimated public housing supply over the next ten years, she believes that the Hong Kong government is capable of handling it. She emphasized that the authorities will not enforce on a large scale without certainty of successful resettlement. In addition to transitional housing, simple public housing, and interim housing units may also be used for resettling housing unit occupants in the future. Luo Shupei also mentioned that the Hong Kong government previously announced the phased reconstruction of the Rainbow Village. About four years remain until the relocation of the first phase, and the early announcement of the plan by the authorities is to prepare residents psychologically, as well as to have an understanding of the relocation situation and make arrangements in advance. She stated that many affected residents look forward to relocating to the new South Horizon Estate. However, if residents wish to move to other units in nearby areas and suitable units are available, the Housing Authority will try to accommodate them. Luo Shupei pointed out that the second and third phases of reconstruction are still in the preliminary conceptualization stage, without a final decision yet, mainly because the future new public housing will reach 40 to 50 floors high, requiring thorough groundwork exploration and foundation layout, which cannot solely rely on documents from over 60 years ago from a technical perspective, and a firsthand understanding can only be gained after residents have moved out.

12. Report indicates typical age of American home sellers reaches 63, hitting a historical record high.

On November 6, the National Association of Realtors (NAR) in the United States released a report on Monday indicating that the typical age of American home sellers has reached 63, up from 60 a year ago, setting a new record high. The NAR's 2024 Profile of Home Buyers and Sellers report studied transaction data from July 2023 to June 2024.