Property Inventory Still Great, Local Officials Request More Stimulus

Second- and third-tier cities are still suffering from excess inventory and more stimulus programs are expected. According to one local government official, housing officials from around China traveled to Beijing during the National Day holidays to ask for more policy support.
"At present the central policy level has basically liberalized, except for a few cities, most local policies on real estate has been stable to stimulate, expected in the fourth quarter will be focused around the introduction of relevant policies." Eastern province of Housing and Urban Department officials Zhang Jian (pseudonym) on the "China Times" reporter, said, according to his knowledge, just around the National Day, many local government officials went to Beijing "to hold small meetings" and hope to the relevant departments to give more policy support.

"From the central level, the caliber of the real estate policy currently classified as 'stable' instead of 'stimulus' and, therefore, no specific policies. If the credit adjustment can not bring improvement in real estate investment data, the next step or will continue in Fund quota management, real estate transaction taxes and other aspects of some action. "Development Research Center of the State Council, an official said.
THe article recycles a lot of data, then goes on (bold in original):
Recently, Chongqing issued a circular calling on the financial difficulties of real estate projects under construction, not simply pumping loans, stop lending and pressed loans to encourage financial institutions to the rational allocation of credit resources, improve the real estate development loans and individual housing mortgage loans, with appropriate mitigation gradual slowdown in real estate investment, and accelerate to the inventory.

Shandong Province, has recently introduced policies to encourage real estate companies will propose the transformation of commercial electric commercial property, teachers apartment, pension, real estate, tourism, real estate.
Chongqing is the fastest growing province as of Q3.

One analyst is worried about the bailouts though, seeing them as lifting demand beyond what the market can bear. He fears a collapse could be postponed until Q3 2016:
However, the central and local frequent introduction of bailout policies, Zhang Hongwei, said concerns. He believes that the policy stimulus, the upcoming end of prosperity or lurking behind the crisis, several rounds of bailout policies continue overdraft demand for property, which in terms of the property market next year, or will be a bad news, which means that demand for property is possible crisis in the third quarter of 2016 broke out, then, the property market will be plunged into a new round of adjustment period.

iFeng: 二三线楼市库存压力大 地方或出台几大政策

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