Bank of China has issued a notice: the new property loan interest rate in Guangzhou shall not be lower than 3%.

A Bank of China employee in Guangzhou told reporters that the branch has received a notice regarding the new property loan interest rate not being lower than 3%. Starting from November 7, the new property loan interest rate in Guangzhou will be implemented at 3%. The employee stated that yesterday (November 5) the lowest property loan interest rate was 2.9%, customers who completed registration and transaction today (November 6) can still enjoy the 2.9% interest rate, but starting tomorrow (November 7), it will be at 3%.

In October, the second-hand property transactions in Shanghai reached 0.022 million units, an increase of 63% compared to the previous month, with a total amount of 71.7 billion yuan, up by 65%.

Monitoring data from Lianjia Research Institute in Shanghai shows that in October, the entire city of Shanghai recorded a total of 0.022 million second-hand property transactions, a month-on-month increase of 63% and a year-on-year increase of 68%. The transaction amount reached 71.7 billion yuan, a month-on-month increase of 57% and a year-on-year increase of 65%. The average total price per unit was 3.25 million yuan, down by 4% month-on-month and 2% year-on-year. The average transaction price was 39179 yuan per square meter, down by 3% month-on-month and 4% year-on-year. From January to October 2024, the total accumulated transaction amount for second-hand properties in the city reached 564 billion yuan, a year-on-year increase of 12%, with a total of 0.166 million units transacted, a year-on-year increase of 10%. The average total price per unit was 3.4 million yuan, a 2% year-on-year increase, and the average transaction price was 40493 yuan per square meter, maintaining the same level year-on-year.

Experts: There is room for a decrease in provident fund loan interest rates, but a balance is needed between policy support and coordination.

According to interviewed experts, there is indeed further room for a decrease in provident fund loan interest rates. However, due to fundamental differences in the interest rate formation mechanisms between commercial personal housing loans and provident fund loans, the two cannot be simply compared. Provident fund loans have a stronger policy support nature, which determines that adjustments should consider the interests of depositors. In addition, effective communication and coordination between central and local governments and relevant local departments need to be carried out promptly for more flexible and dynamic adjustments. (Securities Times)

In Fengtai District, leading the urban village renovation in Beijing: 7 projects fully initiated, benefiting 6345 households.

This year, Beijing has planned a total of 20 urban village renovation projects, among which Fengtai District accounts for 7. Currently, all 7 urban village renovation projects in Fengtai District have been fully initiated, with both project number and investment amount ranking first in the city, benefiting 6345 households, approximately 0.018 million residents to thoroughly improve living conditions. The total investment for the 7 urban village renovation projects in Fengtai District is around 91.1 billion yuan, covering a total area of about 707.59 hectares, renovating 6345 households and involving the demolition of existing buildings with an area of about 2.9708 million square meters. In addition, Fengtai District has started to continue to review the entire district's urban village renovation tasks and resources, preparing a five-year plan for urban village renovation, focusing on the southern central axis and Wanping area, actively planning the second batch of urban village renovation projects for next year. The current plan has entered the preparation stage. (China Construction News)

In Luoyang, the housing provident fund loan amounts have been raised: for single employees 0.7 million, for dual employees 0.85 million, for high-level talents 1.2 million.

According to the "Luoyang News", the Luoyang Housing Provident Fund Management Committee reviewed and approved a new policy to adjust the housing provident fund loan quotas. The maximum amount for single working households has been increased from 0.55 million yuan to 0.7 million yuan, and for couples from 0.65 million yuan to 0.85 million yuan. Families with multiple children can have a maximum quota increase of 20%. The maximum loan amount for high-level talents in Luoyang is 1.2 million yuan, while for doctoral degree holders or senior professional title holders under the age of 45, the maximum is 1 million yuan.

Hainan has introduced new policies: the unified minimum down payment ratio for home purchases is no less than 15%, and the housing loan policies for multi-child families have been optimized.

On November 6th, Hainan Province's departments of housing construction, development and reform, planning, finance, taxation, banks, and financial supervision jointly issued a notice to further promote the stable and healthy development of the province's real estate market. The notice proposes that for residents' families purchasing commodity housing with loans, personal housing loans are no longer distinguished between first and second homes, and the minimum down payment ratio is unified at not less than 15%. Residents' families who qualify for multiple home purchases due to reasons such as having multiple children and have cleared the corresponding housing loans under city and county names, and apply for housing loans again, banks and institutions can prudently determine the down payment ratio and loan interest rate levels based on the borrower's repayment ability, credit condition, and other factors. Residential community projects on newly supplied land may appropriately include some units smaller than 100 square meters but generally not less than 80 square meters, and not exceed 15% of the total area.

Chengdu has auctioned 3 residential land plots: a 46% premium in the hi-tech zone sets a new record for regional floor prices.

On November 6th, Chengdu's central urban area saw the auction of 3 residential land plots. According to the transaction results, 2 of the plots were sold at the base price, with the hi-tech zone plot achieving a 46% premium to refresh the hi-tech zone floor price. The total transaction amount for the 3 plots is approximately 2.247 billion yuan. The land auction information indicates that the 3 plots auctioned in Chengdu are located in the hi-tech zone, Shuangliu District, and Wenjiang District, with a total auction area of about 56,571 square meters and a starting price of 1.594 billion yuan. In the past year, the Dayuan sector has seen the transaction of 2 residential land plots, both secured by Xinyulv Property. According to the China Index Research Institute, on April 9, 2024, Xinyulv Property won two adjacent plots in the Dayuan sector with floor prices of 23,200 yuan/square meter and 22,800 yuan/square meter, requiring immediate housing sales, which set new records for the top two hi-tech floor prices. (The Paper)

Melin: Hong Kong has obtained pre-sale permits for 0.0128 million private residences but has not yet been offered for sale.

On November 6th, Melin Property's report showed that Hong Kong has obtained pre-sale permits for 0.0128 million private residences but they have not been offered for sale yet, and the new market continues to attract attention. According to data from Melin Property's research center, in October, a total of 4 projects were granted pre-sale permits, including Yunxiang in Shangshui, Southern Hong Kong Island, providing 1,633 units, which is approximately 42 times higher than in September. Melin Property's Chief Analyst Liu Jiahui stated that with the sufficient number of units available in the current market, coupled with favorable factors such as interest rate cuts, the primary market is expected to remain the focus of the real estate market. In addition, among the residential projects that applied for pre-sale permits in October, there were 2 private projects providing 1,206 units, a decrease of about 60% compared to September; and another project for subsidized housing sales. Overall, as of October, the total number of units pending pre-sale approval increased by about 1.5% to 17,915 units, but private residential units decreased slightly to 14,611 units, a decrease of about 2.8% compared to the previous month.

Zhongshan City plans to fully open the policy of buying houses for household registration, and residents can apply for household registration after living continuously for half a year.

Recently, the Public Security Bureau of Zhongshan City, Guangdong Province, issued a public notice, soliciting public opinions on the 'Regulations on Household Registration in Zhongshan City (Draft for Solicitation of Comments).' According to the regulations, non-Zhongshan residents who hold property in Zhongshan or have participated in social insurance in Zhongshan and lived continuously for more than half a year will be eligible to apply for household registration in Zhongshan. The draft contains a total of 17 articles, with the fifth article fully opening and relaxing the legal and stable residency and employment household registration. It mentions that those who own legally owned property in Zhongshan or do not have their own legally owned property but have participated in social insurance in Zhongshan and lived continuously for more than half a year can apply for household registration in Zhongshan. Spouses, children, and parents can move with the main applicant. Those with their own housing will have their household registration at their own legal property; those without their own housing will have their household registration at the collective household of their workplace or the local residential committee (community) where they participate in social insurance. It is reported that the deadline for public opinions on this solicitation is December 5, 2024. The public can submit opinions and suggestions through email, letters, and other means.

Hong Kong Property: In October, Hong Kong's second-hand residential property registration volume was 3,351 units, a 29.3% increase month-on-month.

On November 5, the Hong Kong Property Research Department data showed that the registration volume of second-hand residential properties in Hong Kong reached 3,351 units in October, an increase of 29.3% month-on-month, the highest in three months, mainly benefiting from the interest rate cut in September and the impact of central economic stimulus measures. Further data shows that in the October second-hand residential market, the increase in registration volume is mainly driven by residences priced at 5 million Hong Kong dollars or below, with a 32.5% increase to 1,938 units; while the registration volume of homes priced over 10 million Hong Kong dollars had the most significant increase, reaching 47.3%. In addition, The Beaumount, Discovery Bay, and City One Shatin are the top three in terms of registration volume.

Suzhou: Actively implement the purchase of existing housing for resettlement and housing ticket resettlement to ensure reasonable allocation and effective utilization of resources.

On November 5, a meeting on the progress of the transformation of urban villages in Suzhou City was held in the urban area. It is understood that Mayor Wu Qingwen requested a comprehensive plan to promote the transformation of urban villages based on the overall situation and differentiated policies. Making full use of policy funds, according to the 'demolition and new construction, rectification and upgrading, demolition and renovation combination' approach, comprehensively promote the transformation and modernization of urban villages and actively implement the purchase of existing housing for resettlement and housing ticket resettlement to ensure the reasonable allocation and effective utilization of resources. It is necessary to grasp the principle of being clear in requirements, detailed in plans, comprehensive in planning, and practical in measures, adapt to local conditions, show expertise in various aspects, and steadily advance the implementation of transformation projects based on the characteristics of urban villages and the actual situation of each project.