State Council: Special Public Rental Housing Projects Can Lend Directly.

How to prevent thousands of affordable housing starts? capital "Breaking a meal" is a subject before policy makers.

The executive meeting of the State Council clearly held that the banking financial institutions could directly issue loans to eligible public rental housing projects, and also provide loans to eligible local government financing platform companies.

It is noteworthy that a notice issued jointly by the central bank and the CBRC in August this year has released similar signals for the protection of housing "blood transfusion".

The rise of policy signals from ministries to the level of the State Council is the background of some difficulties in ensuring housing projects' loans.

Specific public rental housing projects can be directly lending.

The above executive meeting of the State Council requires that Public Rental Housing The small apartment is the main building, with a single floor area of 40 square meters. The rent standard is reasonably determined by the city and county governments in combination with the local reality and slightly lower than the market rent.

In May this year, the media quoted the responsible person of the Ministry of land and resources as saying that the public rental housing should be controlled within 60 square meters and 40 square meters.

Insiders told reporters that the definition of this area is in line with the beneficiaries of public rental housing.

According to the above meeting, public rental housing for urban middle and lower income housing difficulties families, new employment no housing workers and stable employment in urban migrant workers.

In addition, the State Council has made clear a number of policies, directly referring to the solution to the bottleneck of public rental housing. It is clear that the central government will continue to increase capital subsidies, local governments should also increase financial input and increase provincial coordination.

The Ministry of housing and urban and rural construction estimated that in 2011, the investment funds of the 10 million sets of affordable housing were expected to reach 1 trillion and 300 billion yuan, which required two central government input from the central government and the collective participation of private funds such as bank credit and developers.

This year, the Central Committee finance The budget is allocated 103 billion yuan, plus 39 billion 500 million yuan in the implementation and 28 billion yuan in the previous year's surplus fund, which supports the construction of affordable housing projects. At present, 107 billion 500 million yuan has been issued.

However, after the decomposition of the affordable housing construction plan to various provinces and cities, huge financial pressure has been felt everywhere.

The State Council requires that areas with insufficient public budgetary expenditure should increase the proportion of land transfer proceeds and local government bond funds.

At the same time, regulate and use corporate bond financing, specifically for public rental housing and other construction.

In fact, the NDRC issued a notice in June to support eligible local government investment and financing platform companies and other enterprises, through the issuance of corporate bonds to carry out indemnificatory housing project financing.

Yesterday's executive meeting of the State Council once again made clear that on the basis of strengthening management and guarding against risks, banking financial institutions can directly grant loans to public rental housing projects that run corporatization and meet credit conditions, and also provide loans to eligible local government financing platform companies.

This policy signal is upgraded on the basis of relevant notifications issued by the central bank and the China Banking Regulatory Commission in August.

Two ministries and commissions in the circular on "conscientiously do a good job in the financial services of affordable housing projects such as public rental housing" require that all banking financial institutions should directly grant loans to the public rental housing projects invested by the government in the light of the relevant requirements of credit risk management, such as the implementation of corporatization management, commercialization operation, full capital of projects, and the cash flow of items themselves, which can meet the requirements for repayment of principal and interest of loans.

The "financial resources" of affordable housing

Chen Sheng, vice president of the China Index Research Institute (micro-blog), told the newspaper reporters that some departments would consider risks and rewards, and there would be some discounts in their implementation.

Yang Shaofeng, managing director of Beijing Sifang alliance agency, said it is important to emphasize the above policy again, because it clearly ensured that housing financing was placed in a more preferential position.

In fact, due to the real estate macro-control, some Real estate It is difficult for enterprises to obtain loans from banks, which also affects the housing projects.

"Some affordable housing projects in Beijing can hardly get loans from banks." Yang Shaofeng said.

Yang Hongxu, Minister of comprehensive research of Shanghai Yi Ju Real Estate Research Institute (micro-blog), believes that enterprises are willing to issue bonds and investors must be willing to buy them.

According to his analysis, there are few public rental housing projects that can meet the requirements of repayment of principal and interest of loans in the name of full capital capital and cash flow of projects.

Yang Hongxu said that at present, the rate of return on rental of commercial housing in China is generally only 2%~3%, much lower than that of foreign 5%~8%. According to the regulations, the rent level of public rental housing must be lower than that of the market. Therefore, even if there is land or tax relief, it will take a long time to recover the investment of public rental housing.

"The key is to attract the entry of social capital, but the contradiction lies in the risk of investment, and the mechanism of capital recovery has not been straightened out." Yang Hongxu said.

According to the data released by the central bank, in the first half of this year, China's development loans for affordable housing totaled 90 billion 800 million yuan, an increase of 54.8% over the beginning of the year.