Changchun adjusts policies and measures to boost healthy development of property market

On August 31, Changchun held a media briefing on the stable development of the property market. To meet the living demand of new urban residents, ensure the basic living livelihood of residents, and maintain the stable and healthy development of the city’s property market, the Changchun Housing Security and Management Bureau has organized relevant departments to conduct in-depth research and adjusted policies and measures from the aspects of adjusting supply and demand, easing the financial pressure of development enterprises, encouraging talents and farmers to buy homes and strengthening sector supervision.

Reasonably control the supply of housing land. As the supply of housing land runs at a high level in the past two years, the third centralized land supply this year is mainly shantytown land and rental housing land. Housing land will not be supplied.

Ease the financial pressure of development enterprises. To prevent projects from failing due to insufficient funds, qualified commercial banks are allowed to issue a letter of guarantee for real estate development enterprises to replace the supervision of pre-sale funds. Suspend the policy of one-time payment of property maintenance funds by commercial housing development enterprises at the closing line. If the balance of property maintenance fund account can be deducted from the deposit amount, the commercial housing online signing contract can be filed. For the housing development projects in urban areas developed by real estate development enterprises, the loan deposit that undertakes phased guarantee for the borrower is no longer paid.

Accelerate the construction of public service facilities. All urban districts, development zones and relevant departments directly under the municipal government shall timely announce the commencement, completion and operation dates of public service facilities related to education and medical care around housing development projects. At the same time, speed up the construction of public service facilities of projects that have not started and are under construction and sale, follow up and inspect the progress in a timely manner to ensure completion within the announced time limit.

Encourage talents and farmers to buy homes. To encourage farmers to buy homes in urban areas and address the housing difficulties faced by new urban residents and young people, Changchun provides subsidies for those farmers, college graduates and above, personnel with intermediate or above professional titles, senior workers, personnel with vocational skills and other talents who stay in (come to) Changchun for work and buy commercial housing of less than 90 square meters for the first time, according to the subsidy standard of 50 yuan/square meter for talents and 80 yuan/square meter for farmers. Meanwhile, the municipal government hands out consumption vouchers worth 50 million yuan to qualified talents and farmers who buy homes. The vouchers can be used for household appliances and automobiles. The home purchase subsidy and consumption voucher policies will be tentatively implemented until the end of this year, and will be adjusted depending on the situation. The policies do not cover Shuangyang district, Jiutai district, Gongzhuling city and other counties (cities). In addition, development enterprises are encouraged to give preferential purchase prices to farmers and talents who stay in (come to) Changchun for work, but the transaction price shall not be lower than 85% of the record price of commercial housing.

Provident fund portfolio loans are allowed. Carry out commercial bank portfolio loan (pilot) of housing provident fund and family portfolio loan of housing provident fund within the urban area of Changchun. If the family members (including parents, children and spouse) of the home buyer pay the provident fund, they can jointly use the fund loan, but only two people can repay the loan together.

Step up efforts to cut down on non-residential housing. At present, the non-residential digestion cycle in Changchun is long. To make full use of the idle non-residential housing land, commercial and business land projects that have not started and are under construction are allowed to set office buildings with residential functions on the premise that the nature and planned use of the land remain unchanged and meet the requirements of environmental protection, fire control and structural safety.

Standardize market order. According to the document requirements of 8 ministries and commissions including the Ministry of Housing and Urban-Rural Development, Changchun will formulate and issue a plan to regulate the order of its property market in the near future and will carry out examinations of law enforcement on real estate development, housing sales, housing leasing and property services. At the same time, Changchun will strengthen the monitoring of its property market, correctly interpret the policies and measures for regulating the property market, stabilize market expectations and guide reasonable housing consumption. Intensify investigation and punishment in accordance with the law for fabricating rumors, disturbing market order, spreading false information and misleading market expectations.

As for the policy of reducing the down payment ratio and imposing tax on garages as residential buildings, Changchun follows the current down payment ratio of 30% for the first home and 40% for the second home, and the taxation policy on garages is implemented as non-residential buildings. Except the home purchase subsidy and consumption voucher policies, other policies will be in effect until the end of June 2022. Relevant responsible departments will interpret specific policies in details.