New Normal: Chinese Cities Won't Loosen Real Estate Restrictions

The Politburo met on July 24 and discussed stabilizing real estate. Shanghai is the first city to comment policy in its wake.

On July 24, the Politburo meeting proposed "to stabilize the real estate market, adhere to policy continuity and stability, and speed up the establishment of long-term mechanism." The market a number of people in this industry interpreted as, in the real estate long-term mechanism is not introduced before the real estate policy will not loose. And after two days, the first city of Shanghai position, we must strengthen the real estate market regulation unwavering, do not relax, we can see the property market regulation in the second half or the whole will not relax.

Xinhua News Agency, Shanghai, July 26 (Xinhua Guo Jingdan) Shanghai Municipal Committee of the Standing Committee of the thirty-ninth meeting (expansion), said Shanghai strict control of high home prices and high land prices is not a stop-gap measure to reduce economic growth, and lowering finance revenues from the real estate industry is not an expedient measure, we must be unwavering in strengthening real estate market regulation unwavering, will not relax.

...Yi Ju Research Director Yan Yue Jin Comments: policy from the tight is the probability, and irregular behavior zero tolerance

From the Shanghai point of view, fully explain the current property market to control the overall situation, which is the necessary means of real estate stability, for the stability of the market expectations and consolidate the past policy is a positive role. Of course, in fact, Shanghai has also been out of the policy, for similar parking spaces and other acts of regulation and control, which also shows that some market participants still do not follow the original policy. So a similar statement also shows that the policy is tight from the probability, and the violation is zero tolerance.

From the recent policy trends, mainly reflected in the stability of the guide, for the stability of housing prices is a positive effect. And the concept of falling house prices, in fact, relatively inadequate, because the market transactions in the second quarter has been weak. The current price decline for an important force is to see whether the housing prices to get to get, if you take the urgency, it will continue to cut prices.

Huatai Securities chief macro researcher Li Chao Comments: the supply side does not effectively play a role before the demand side, including the purchase limit loans, improve the down payment than these measures or the need for a continuous process

First of all, real estate long-term mechanism mechanisms include: the introduction of real estate tax, to provide rental housing and other important initiatives, the most effective solution to the real estate problem or housing construction and land and resources before the release of the document - real estate inventory and land supply linked, which can The supply side can effectively solve the real estate problem, before these policies are not effective play, the demand side includes the purchase limit loan, improve the down payment than these measures may also need a continuous process.
iFeng: 上海表态:加强房地产市场调控不动摇、不放松(解读)

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