Capital Supervision Upgraded Again At The End Of The Year

A few days ago, two more cities have issued capital supervision policies: Foshan reiterated the supervision of pre-sale funds, and Nanjing proposed rent supervision. The relevant policies include drawing according to the schedule, linking credit score and supervising the rent with a lease term of more than three months.

Foshan pre sale "New Deal"

Recently, Foshan housing and Urban Rural Development Bureau of Guangdong Province printed and issued the implementation measures for the supervision and management of pre-sale funds of commercial housing in Foshan City (hereinafter referred to as the "measures"), which makes it clear that the pre-sale funds of commercial housing shall be deposited into the supervision account, and the real estate development enterprises shall not receive and deposit the pre-sale funds outside the supervision account. The measures shall come into force on January 7, 2021 and shall be valid for five years.

According to the measures, the pre-sale payment of commercial housing includes the deposit, down payment, house purchase loan and other forms of house purchase money paid by the buyer in accordance with the commercial housing sales contract. Before applying for the pre-sale license of commercial housing, the real estate development enterprise shall select a commercial bank in the city as the regulatory bank to set up a special account for the pre-sale funds of commercial housing, and a pre-sale license of commercial housing corresponds to a regulatory account.

Specifically, the retained amount of Foshan pre-sale fund supervision in each stage includes: the pre-sale amount in the supervision account shall not be less than 10% of the total project sales from the image progress of the project to the capping of the main structure; the pre-sale amount in the supervision account shall not be less than the total sales amount of the project from the completion of the main structure capping to the completion of the supporting installation project (basic hydropower project) 5% of the total sales amount; the pre-sale funds in the supervision account shall not be less than 3% of the total sales amount of the project from the completion of the supporting installation project to the completion and acceptance of the project; the pre-sale fund in the supervision account shall not be less than 1% of the total sales amount after the completion of the project and before the completion of the first registration of the commercial housing and reaching the conditions for unilateral transfer registration Withdraw the remaining pre-sale funds of commercial housing and apply for lifting the supervision of pre-sale funds of commercial housing.

In this regard, Foshan Zhongyuan Real estate related people said that most cities in Guangdong Province have already issued supervision policies on pre-sale funds. Developers settle the pre-sale funds according to the project progress, including the Commission settlement between developers and intermediary agencies, which are also settled according to the project nodes. Foshan has also issued relevant policies in the past.

A Foshan industry source told reporters that the implementation of pre-sale supervision policy should be promulgated by many cities across the country. Foshan may just follow up. Tightening developers' funds can protect the rights and interests of house buyers and prevent developers from misappropriating funds to develop other projects.

According to the 21st world economic report, in the first half of 2020, Foshan's property market will slow down and supply will increase a lot in the second half of 2020. According to the data of the central index Institute, 11000 new pre-sale commercial housing units will be added in Foshan in November 2020, an increase of 59% on a month on month basis, and the number of online signing units will decrease by 17% month on month. In November, the average price of Foshan was 17500 yuan / m2, up 1.9% month on month and 19.8% year-on-year, including 17000 yuan / square meter of new house online.

In addition, Foshan's follow-up of developers' capital supervision, in addition to many uncompleted buildings left behind by historical reasons, is also related to the intensive development of many areas in Foshan. For example, sanlongwan, Foshan new city, Green Island Lake and other plates, especially Qiandeng lake and Jinshazhou, which are close to Guangzhou, have broken the price of some real estate and second-hand buildings by 40000 yuan / m2.

Pre sale policy "patching"

In fact, since the beginning of this year, the local government for developers funds supervision tightening trend is obvious. Yinchuan, Taiyuan, Kunming and other cities have issued relevant policies to strengthen the supervision and management of the pre-sale funds of new commercial housing, ensure that the pre-sale funds are used for the construction of commercial housing projects, protect the legitimate rights and interests of buyers, and prevent transaction risks.

As early as September 15 this year, Fujian Provincial Department of housing and urban rural development announced the guiding opinions on strengthening the supervision of commercial housing pre-sale funds, announcing that nine measures, including signing supervision agreement, setting up supervision account, standardizing deposit of pre-sale funds, clarifying supervision quota and implementing dynamic supervision, are adopted to clarify supervision quota, supervision mode, allocation process and liability for breach of contract To reduce and avoid the occurrence of "uncompleted buildings".

Up to now, some cities, including Kunming, Zhuzhou, Tangshan, Chengdu, Foshan, Weifang and Zhuhai, have issued capital supervision policies. We should strengthen the supervision of the pre-sale funds of commercial housing, ensure that the pre-sale funds are used exclusively, and prevent the risks of the property market caused by uncompleted buildings from the source. These new policies have targeted to block the previous regulatory loopholes, and standardizing the pre-sale funds has become an important part of preventing and resolving real estate financial risks. Industry insiders pointed out that the introduction of relevant policies is generally related to the city's prevention of uncompleted projects; in addition, during this period of time at the end of the year, enterprise funds are prone to accidents, and the local government introduces policies from the perspective of prevention.

Zhang Dawei, chief analyst of Zhongyuan Real estate, pointed out that since December, many cities have issued supervision policies on pre-sale funds. The main reasons are as follows: many cities relaxed capital supervision in the early years of the epidemic, but now the epidemic situation is stable, and some urban policies have returned to the normal level before the epidemic; there are many problems in the pre-sale system of commercial housing, including the extreme phenomenon of uncompleted residential buildings in many cities Appear, and the recent media reports that some cities appear to house buyers to live in uncompleted buildings security issues have been concerned. The main reason for this is the lack of supervision of construction funds; from the point of time, the pressure of real estate enterprises' funds at the end of the year is great, and the possibility of misappropriating construction funds is increased. In order to avoid such problems, it is necessary to introduce policies.

Zhang Dawei believes that the supervision of pre-sale funds should be the supporting policy when the pre-sale system is introduced. However, after 20 years of development of the real estate market, many cities still haven't made this patch. Therefore, more and more cities should strictly implement this policy to protect the basic rights and interests of house buyers. For the influence of enterprises, the supervision of construction and installation part of pre-sale funds is necessary for normal development Exhibition enterprises have little impact. Compared with the existing housing system, the pre-sale system is more prone to problems. With the development of real estate for decades, uncompleted buildings have appeared in various places, which is the problem of system. However, from the perspective of capital cost, the 17 trillion real estate market is unlikely to completely transform into existing house sales. In fact, capital regulation is the norm. The biggest advantage of bringing the pre-sale funds of commercial housing into the capital supervision is to prevent the risk of uncompleted real estate and protect the legitimate rights and interests of buyers.

Recently, Foshan Times Square entered the auction process again, with a starting price of 650 million yuan, which is one of the most concerned uncompleted buildings in Foshan.

Standardizing the leasing market

In addition to buying and selling houses, there are also a number of cities and cities have introduced capital supervision policies and measures.

On December 12, Jiangsu Province Nanjing development and Reform Commission, municipal real estate bureau and other eight departments jointly issued the "notice on Further Strengthening the supervision of the city's housing rental market and standardizing the market order" (hereinafter referred to as the "notice"). There are 18 articles in the notice, which regulate the registration of rental housing, housing source, rent and other aspects. It emphasizes that the rent with a lease period of more than three months should be supervised.

Nanjing clearly stipulates that the housing rental institutions that carry out housing rental business activities by means of agency rent and sublease shall sign the housing rental fund supervision agreement and open the only housing rental fund supervision account in the city. The account shall not withdraw cash or collect funds of other nature.

It is worth noting that as long as the rental period of a house exceeds three months, the housing rental agency should deposit the rent, deposit and funds obtained by "rent loan" into the regulatory account, and pay the risk deposit matching with the business scale.

Previously, in order to regulate the order of housing rental market, Chengdu, Xi'an, Chongqing and other cities successively issued documents, requiring the establishment of the only housing rental fund supervision account.

Compared with rent supervision, the supervision of pre-sale funds has a greater impact on developers. The reporter noted that the regulatory Party of the funds for pre-sale funds around the world was banks, and the developers should exploit the loopholes, and the banks may not be able to detect them.

Industry insiders pointed out that it is not tightening up, but diversified supervision to prevent problems, which belongs to standardizing the market and improving the system.

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