Nanjing And Shenzhen Take Measures To Control The Property Market Of "False Divorce"

In the early morning of July 23, seven departments of Nanjing jointly issued a document to regulate the property market. In terms of the purchase restriction policy, it is stipulated that if any one of the husband and wife buys a house within two years after divorce, the total number of families before divorce is still calculated.

About a week ago, Shenzhen also introduced a property market regulation policy, which also contains a similar clause. According to the regulations of Shenzhen, if a couple divorces, if either party purchases commercial housing within three years from the date of divorce, the number of housing units owned shall be calculated according to the total number of households before divorce.

The main purpose of this clause is to prevent the purchase of a house through "false divorce". The so-called "fake divorce to buy a house" means that a couple has no real intention of divorce, but still through divorce, one of them can obtain the qualification of purchasing a house. A number of real estate enterprises and real estate brokerage practitioners confirmed to the 21st century economic report that in practice, there are not a few cases of buying and selling houses through false divorce.

Due to the market warming and the rapid rise of house prices in some regions, a new round of upgrading of the regulation and control policies of the real estate market has appeared recently. Among them, containment of policy loopholes similar to "false divorce", restricting illegal entry of funds into real estate, and supporting non home buyers have become important policy directions.

Keep pressure

Signs of upgrading the regulation and control of the property market have appeared since the beginning of July. On July 2, Hangzhou and Dongguan introduced the property market regulation policies at the same time. Hangzhou has implemented a five-year sales policy for talent buyers, and expanded the scope of purchase restrictions. Dongguan, on the other hand, imposed restrictions on the price increase of commercial housing, while limiting the decoration price, forbidding developers to increase the price with the help of "fine decoration". On July 6, Ningbo expanded the scope of purchase restrictions, carried out "strict verification" on house prices and "strictly controlled" land prices.

Since then, Shenzhen, Zhengzhou, Inner Mongolia, Qingdao, Changchun, Nanjing and other places have also issued regulatory policies. In the meantime, SASAC and CBRC also mentioned the property market policy in their statements or in their papers.

From the policy direction, the regulation of the property market since July is changing from loose to tight. "If the real estate regulation in the first half of 2020 is dominated by loose stimulus such as talent policy and settlement policy, since July, with the obvious rise of housing prices in many cities, tightening policies have begun to appear." Zhongyuan Real Estate chief analyst Zhang Dawei said.

Although the efforts are different, the measures taken by Shenzhen and Nanjing to block "false divorce" are still considered accurate and effective. The relevant person in charge of a large-scale real estate company Nanjing Branch told the 21st century economic report that "false divorce" has "low cost and quick effect". In Nanjing market, it is quite common to obtain the qualification of purchasing a house by this way. "Almost every project's customers have just divorced."

Zhang Dawei said that after years of regulation and control, the existing property market policy has been more stringent, "false divorce" is one of the few policy loopholes. Although legal experts do not recommend this method, but in many cities, "false divorce" is still a way for families to obtain the purchase qualification and carry out improvement type or investment type house purchase.

In addition to the containment of "false divorce", it is also an important feature of this round of regulation to restrict the illegal entry of funds into real estate.

On July 16, Peng Huagang, Secretary General of the state owned assets supervision and Administration Commission of the State Council and a spokesman for the State Council, said that it was necessary to firmly hold the bottom line of no systemic risks, continue to strictly control the proportion and direction of investment in non main businesses, and "continue to strengthen the supervision of projects in high-risk fields such as finance and real estate."

On July 17, the China Banking and Insurance Regulatory Commission issued the Interim Measures for the administration of Internet loans of commercial banks, stressing that loan funds should not be used for house purchase and repayment of housing mortgage loans.

In the implementation of market constraints, at the same time, some supportive policies are also being introduced. For example, Nanjing requires that when commercial housing is opened, it must provide housing security of no less than 30% of each batch to the non housing families registered in the city; Ningbo also allows three types of "no house families" to have priority to subscribe for one set of commercial housing in six districts of the city, with a five-year sales restriction period.

Chen Xiao, an analyst at Zhuge housing data research center, believes that the regulatory policies of Nanjing and Ningbo both reflect the direction of "keeping pressure" and protecting the rigid demand and cracking down on real estate speculation. The implementation of the policy will help the market from the current overheated return to stable rationality.

Investment speculation needs to enter

The upgrading of the property market is partly due to the overheating of the market. Stimulated by supportive policies in the first half of the year, the demand suppressed by the epidemic situation accelerated to release, prompting the market to recover rapidly.

According to the data of the National Bureau of statistics, in the first half of this year, the national sales of commercial housing fell by only 5.4% compared with the same period last year. Among them, in May and June, the market sales scale has exceeded the same period of last year for two consecutive months. This also shows that the real estate market transactions have completely recovered from the epidemic.

In June, among the 70 large and medium-sized cities, 61 cities had a month on month rise in new house prices, and 50 cities had seen second-hand house prices rise, both of which were the highest in the last 12 months. Among them, Shenzhen second-hand house prices rose 1.9% month on month, ranking the first in 70 cities. In recent years, Nanjing and Ningbo have increased their housing prices.

It is worth noting that in some hot cities, due to the upside down prices of new and second-hand houses, some projects have a grand occasion of "ten thousand lottery", and the winning rate of many projects is less than 5%.

A person in charge of a large real estate enterprise in Beijing told the 21st century economic report that in addition to the rigid demand suppressed by the epidemic situation, some investment and speculation demand entered the market, making some regional markets overheated. He said that in addition to "false divorce", another performance of "housing mortgage" began to rise.

"Housing mortgage loan" refers to a kind of leverage behavior in which the borrower applies to the bank for consumption loan or business loan with his real estate as mortgage, and then uses the loan for house purchase. According to the aforementioned real estate enterprises, "housing mortgage" mainly occurs in the purchase of second set of housing. Due to the high proportion of down payment for second set of housing in hot cities, many buyers use this method to fill the gap of down payment.

It is reported that the regulatory authorities have repeatedly stressed in recent years to prevent the illegal entry of credit funds into real estate. This part of "illegal funds" includes "housing mortgage".

Zhang Dawei believes that tightening regulation and control will be the future policy direction, and the specific means are still "patching" and "plugging loopholes". The local government will continue to adopt the method of implementing policies according to the city and make targeted adjustments. Affected by this, some overheated regional markets may cool down, but in the environment of abundant liquidity, the property market will still maintain a high level of operation.

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