2014-06-26

Hohhot Cancels Buying Restrictions, Or Do They? Developers Skimp On Sales, Rely on Chat and SMS to Bring in Customers

Once again a city says buying restrictions are gone and pulls the announcement within hours. In one story (呼和浩特撤回取消“限购”文件引热议), it says that Hohhot prices have been flat since March and some developers are not even opening sales departments to move new properties. They are instead using Weixin (chat program) and SMS messages to attract customers.

Hohhot may lift home purchase limits
The residents of Hohhot will not be required to offer documentary evidence of units of apartments owned by a family when they plan to buy apartments, according to the notice published on the website of the Hohhot real estate development and supervision department.

That means Hohhot will become the first city to completely withdraw its home purchase restriction policies, which have been implemented in at least 40 major Chinese cities since 2011, as part of the central government's efforts to curb property speculation.

But late on Wednesday, the notice was deleted without official explanation. Chinese news portal NetEase quoted an official from the department as saying that they "deleted the notice because of two wrong words, and will repost very soon."

呼和浩特取消楼市限购 30城市或年内松绑
In the classification regulation policy, there are a growing number of second and third tier cities to join the army to rescue the market deregulation, the latest is Hohhot, some experts expect the year will likely have more than 30 cities relaxed restriction policy.

  Hohhot cancel the purchase of "Rashomon"

  June 20th, supervision and management of real estate development in Hohhot announced Hohhot Government Office issued the "Opinions on really good job promoting the city's housing security healthy and stable development of the real estate market" (the "Opinion") of the notice.

  "Opinions", give full play to the decisive role of the market in resource allocation, cancellation of commercial sales program filing system, residents buy commodity housing (including second homes) in the process of signing, net signed, taxes, loans, and ownership registration, no then asked to provide housing ploidy queries proof.

  Centaline Dawei, chief market analyst for "First Financial ( microblogging ) Daily "said that housing is one of the core elements of copy number of queries the purchase of. Copy number of queries are no longer required to provide proof housing, essentially equivalent to cancel the purchase of the policy.

  But in the afternoon of the 25th, on the supervision and management of real estate development in Hohhot at the website link has expired. Some media said that the department is responsible for related work Minister Li said:. "Government documents printed word wrong, you need to re-release"

  At 16:00 on the 25th, "First Financial Daily" reporter called to ask where the main person in charge, the official said there is no clear introduction of this file, copy number of inquiries regarding the cancellation of not understanding.

  Hohhot Housing Security and Housing Authority property at a source told reporters, have heard of the municipal government issued this document, as currently No specific documents issued to the department, and therefore do not know whether to cancel.

  "This matter is likely to last as Shenyang that, due to the direct cancel the purchase of the action too, political risk is relatively large, so they take it back." Case Dawei said that in many cities to take "Bypass relaxed" approach could save the city, local Government does not need to touch the red line to cancel the purchase of this root, because the risk is too great.

  Shanghai E-House Real Estate Yan Yuejin researcher also believes that although there are many cities after deregulation, but no city directly to cancel the purchase, "estimates the action too, and taken away."

  Prior to June 10, the real estate market in Shenyang heavy news broke, saying Shenyang expressly abolished the purchase, just buy a house, locals and foreigners can purchase multiple residential units. Message a market in an uproar. However, one day after the Shenyang municipal government departments that this message be denied, Shenyang cancel the purchase only experienced a "day trip."

  Hohhot, according to March 2011 introduced restriction policy, the city has a housing units (including four city districts and five counties) residence households (including some family members of city residence for the family, including spouses and minor children, the same below), non-city residence households, the purchase of a set of housing (including new housing and second-hand housing).

  Subsequent follow-up of more than 30 cities

  This year, the property market downside to many cities have brought no small pressure. In Hohhot, for example, according to the National Bureau of Statistics released monthly in 70 cities nationwide housing sales price movements, Hohhot new commercial housing price index from March to May MoM change in amplitude is 0, which means that the new Hohhot commercial housing prices have stopped for three consecutive months, growth.

  Hohhot property market is facing high inventory pressure. 35 large and medium cities in 2013 spot commodity housing inventory to cycle studies based on Shanghai E-House Real Estate Institute, Hohhot sales ratio value of 37, in 35 cities ranked inventory to the greatest pressure.

  According to the "First Financial Daily" reporters to incomplete statistics, at least 16 cities in the first half of the purchase or through deregulation, or ride to the rescue fund by way of the New Deal. Two years ago, Foshan and other places with the purchase of a deregulation policy was halted different, most of the current round of bailout to get the upper acquiescence, which also reflects the "classification regulation" requirement of the central government earlier this year.

  Local rescue the city's urgent, real estate is largely due to the downward impact of the local economy. Dawei analysis, real estate investment is generally the total investment in fixed assets into two or three, if coupled with upstream and downstream industries, will occupy half of the country. Therefore, the economic impact of the downstream areas of real estate is very obvious.

  Hohhot Bureau of Statistics data show that as of the end of March, the city's real estate investment totaled 1.506 billion yuan, an increase of 10.78%. The growth rate down 15.3 percentage points from a year earlier, the city's total investment in real estate investment accounted for 46.5 percent, down 8.7 percentage points.

  Dawei said that the current economic development is not satisfactory in many places, many of the city's industrial investment are significantly shrinking in consumer cases to be ineffective in the short-term stimulus, increase consumption and stimulate investment in real estate has become an important choice.

  For example, the introduction of Chengdu, 23, steady growth "22" should be made in the consumption of housing, the first suite of Chengdu residents will promote and improve housing consumption and housing accumulation fund loan to accelerate progress, give priority to first-time buyers who paid into the loan fund needs.

  Dawei said that the current deregulation of the purchase from the city's main relaxation, limit, expand financial support for the purchase and adjusted household registration policy aspects. More than 30 cities are expected to limit the options will likely be relaxed during the year. However, even if the current widespread throughout the government bailout, the effect is very limited, the most important thing is to see whether the credit policy of the central government to relax.

  In Hohhot, for example, said Zhang Dawei, Hohhot end just a second-tier cities, other cities can attract buyers within the autonomous region, due to the city's purchase of the policy have been very loose, the immigrant population is fairly easy to buy a house in the city. As for the high-end consumer to buy more suites crowd, will choose to Beijing, Shanghai or other coastal cities investments.

  Data show that the end of 2013, the resident population of Hohhot 300.11 million, increasing 5.23 million more than last year, of which the urban population was 198.79 million, the population growth rate is relatively slow.

  "From an economic point of view Hohhot or three-tier cities, the population of these cities to import speed displeasure." Said Yan Yuejin, Hohhot property market in May has seen a stagnation, increase the risk of future declines, so even if the ongoing bailout, is also very hard to impress buyers purchase psychology in the short term.

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