2014-05-26

Second City in Anhui Announces Housing Rescue Package

Earlier this month, Tongling in Anhui province fired the first shot when it announced a rescue package for the local real estate market.

Anhui to Give Loans, Subsidies to Property Market

Now another city in Anhui is following it. Xuancheng in Anhui province has upped its loan limit on housing funds to 300,000 yuan. This is up from 200,000 yuan which was set last July, a cut from the former limit of 300,000 yuan. In other words, policy is back where it was in 2013. Housing funds are accounts where a worker can save money for a home purchase, and the employer matches the contribution each month. Most government jobs have these funds, private companies can offer it if they choose.

Non-residents of Xuancheng can borrow up to the limit if they have paid into the housing fund for 6 months. This is down from 1 year.

Additionally, if the home is under 90 sqm and the homeowner lives in the home, the government will fully subsidize taxes. From 90 to 144 sqm, the government will subsidize taxes over 1% of the value, and over 144 sqm the government will subsidize taxes above 2%.

安徽打响“救市”第二枪 公积金贷款额度上调至30万
Every time there was correspondent Kun Cha Road from the bottom of Nanjing

Following the first-time buyers in Tongling City, announced individual application housing provident fund loans down the proportion from 30% to 20%, and give subsidies to the deed, the province declared the city also followed the introduction of the New Deal carried bailout.

May 20, Xuancheng City Housing Fund Management Center issued a document called outside of the housing provident fund declared the city's maximum loan amount has been adjusted, the housing provident fund is adjusted to the maximum loan amount of $ 300,000. Moreover, declared the city also announced the purchase of listing buyers, given a certain deed subsidies.

For Xuancheng policies introduced, the real estate industry experts Zhang beginning of " Daily Economic News "reporter, said the introduction of the policy and Xuancheng, Tongling no different, the purpose is the same bailout.

Fund raised the maximum loan amount

In fact, as early as July 1, 2013, declared the city housing fund management center housing fund down once the maximum loan amount, down from the original $ 300,000 to $ 200,000. But after nearly a year of operation, declared the city housing the first half of 2014 began to decline in volume, in order to better regulate the market, the city declared will be adjusted to the maximum amount of 300,000 yuan fund loans on the original $ 200,000, prompting local housing turnover rise.

In addition, the loan conditions have changed from the normal housing provident fund deposit more than one year to adjust to a normal housing provident fund deposit at least six months, "which means, no Xuancheng accounts before the foreign population needs to pay full year fund loan fund can only be used to buy a house, now reduced to six months on the can, which will further stimulate foreign population buyers. "Zhang early on," said the Daily Economic News "reporter.

Moreover, declared the city also said that in 2014 for individuals to purchase 90 square meters and the following ordinary housing and the housing are home buyers (buyers who include members, spouses and minor children, the same below) the only housing, deed tax paid by the deed give full collection agencies at the same level of financial subsidies.

For individuals to purchase 90 square meters to 144 square meters (inclusive) and the houses belonging to ordinary housing buyers only family housing, paid more than 1% of the deed, or to purchase more than 144 square meters of non-ordinary housing and the house belongs to the only home buyers housing, deed tax paid by more than 2% of the part of the deed tax levied by local financial institutions to give full subsidy.

"Adjustment of Xuancheng provident fund loans, and subsidies for the purchase deed given to this and bailout policies introduced after several city does not make any difference, its purpose is to promote property sales." Zhang said at the beginning.

Capping property stocks stalled land

It is worth noting that the introduction of Xuancheng behind the bailout policies, it is sluggish property sales, inventory, top pressure situation.

According to the "Daily Economic News" reporter, Xuancheng property market downturn nearly three months, despite entering the "Red May", there are some items slashed prices promotion, but cold is still not scattered.

Xuancheng City Housing Authority data show that the first two weeks of May neither filed more than one hundred sets of the first three weeks of the property market is once again the landslide, only 59 sets of the record. As of May 21, Xuancheng filing this month did not exceed 200 sets of copy number. Record number of sets chain fell 20.27%.

Xuancheng property in February 2014 for the record 1038 sets March record 523 sets, 310 sets record in April. February 2013 record 924 sets, 976 sets record in March, April record 722 sets before March this year, a total of 1871 sets of copy number of the record, the record 2622 set last year. From the record it is clear that the data show a continued downward trend in Xuancheng property.

"In just the past 'four gold and three silver', Xuancheng property market turnover did not get good results, is nearly three years Xuancheng worst year sales volume on the current situation, Xuancheng property or to continue decline. "Xuancheng local developers Yang Haitao told reporters.

And for promotional purposes, can be described as a local developer trying to make itself. Since April, Xuancheng number of projects carried out promotional activities, but the effect is not obvious, since May Xuancheng dull property market turnover or the continuation of the trend.

Volume decline, property stocks further. Statistics show that as of May 21, 2014, declared the city sales copy number has reached 25,643 units, the market is quite adequate supply side, according to the velocity Xuancheng, technology stocks need to go more than three years.

Stocks increased, no doubt will bring a series of chain reactions. According to the reporter, since 2014, Xuancheng residential land transfer almost complete standstill.

"The property market downturn on local land impact is very large, holding the hands of developers can not sell a lot of listings, certainly will not be easy to get to, if the land is sold, the pressure on local finances can imagine, so this When introduced policies Xuancheng, Xuancheng its purpose is to break the situation cool the property market. "Zhang early on," said the Daily Economic News "reporter.

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