Affordable rental housing market ushered in new positive!
According to the news on the website of the people's Bank of China on February 8, the people's Bank of China and the China Banking and Insurance Regulatory Commission issued the notice on excluding the loans related to indemnificatory rental housing from the concentration management of real estate loans, made it clear that the loans related to indemnificatory rental housing projects were not included in the concentration management of real estate loans, and encouraged banking financial institutions to comply with laws and regulations, control risks Based on the principle of commercial sustainability, increase support for the development of affordable rental housing.
Relevant people close to the regulatory authorities told the China Securities Journal that the loans related to affordable rental housing projects will not be included in the concentration management of real estate loans, which means that the relevant loans issued by banks are no longer constrained by the concentration management indicators, and there is sufficient space to increase the credit supply to affordable rental housing projects.
strengthen financial support for affordable rental housing
The notice specifies four aspects: first, since the date of printing and distributing the notice, the relevant loans issued by banking financial institutions to indemnificatory rental housing projects holding the confirmation of indemnificatory rental housing projects will not be included in the centralized management of real estate loans; Second, banking financial institutions should increase their support for affordable rental housing and provide financial products and services in accordance with the principles of legal compliance, controllable risk and commercial sustainability; Third, banking financial institutions should strictly implement the relevant statistical systems of the people's Bank of China and the China Banking and Insurance Regulatory Commission to ensure the authenticity and accuracy of data; Fourth, the Notice applies to banking financial institutions that implement the real estate loan concentration management system.
The people's Bank of China and the China Banking and Insurance Regulatory Commission said that making it clear that the loans related to affordable rental housing projects are not included in the concentration management of real estate loans is conducive to the banking financial institutions to increase the credit supply of affordable rental housing projects, support the construction of China's housing security system, and promote the establishment of a housing system with multi-body supply, multi-channel security and simultaneous rental and purchase.
Yan Yuejin, research director of the think tank center of E-House Research Institute, said that the release of the notice will improve the motivation of real estate enterprises to apply for loans and contribute to the faster and better development of affordable rental housing.
Relevant people close to the regulatory authorities said that the notice released a positive signal of increasing financial support for the development of affordable rental housing, which is conducive to promoting the specific implementation of the relevant requirements of increasing financial support for affordable rental housing in the opinions on accelerating the development of affordable rental housing issued by the general office of the State Council, and helping to support the construction of China's housing security system, We will promote the establishment of a housing system with multi-body supply, multi-channel guarantee and simultaneous rental and purchase, so as to promote the steady and healthy development of the real estate market.
In addition, the above-mentioned persons also said that making it clear that the loans related to affordable rental housing are not included in the concentration management of real estate loans is a specific measure to implement the decision-making and deployment of the CPC Central Committee and the State Council to accelerate the development of affordable rental housing and strengthen the support of relevant financial policies. It is also an existing arrangement of the concentration management system of real estate loans.
The people's Bank of China and the China Banking and Insurance Regulatory Commission said that in the next step, we will accelerate the establishment and improvement of the housing rental financial system, continue to increase financial support for the construction of affordable housing and the development of the long-term rental housing market, and promote the virtuous cycle and healthy development of the real estate industry.
accelerate the establishment and improvement of the housing leasing financial system
So, in practice, how will this system be implemented?
According to the above people close to the regulatory authorities, after the promulgation of the opinions on accelerating the development of affordable rental housing in June 2021, all localities have paid close attention to establishing and improving the joint review mechanism of affordable rental housing projects, and issued the confirmation of affordable rental housing projects for the projects that passed the joint review. The people's Bank of China and the China Banking and Insurance Regulatory Commission have recently established separate statistical indicators for affordable rental housing loans based on the recognition standards provided by the Ministry of housing and urban rural development, and separately counted the relevant loans that meet the conditions. After the implementation of the above measures, the conditions for implementation will be met if the loans related to affordable rental housing projects are not included in the concentration management of real estate loans.
The notice also clearly points out that since the date of printing and distributing, the relevant loans issued by banking financial institutions to affordable rental housing projects holding the confirmation of affordable rental housing projects will not be included in the concentration management of real estate loans.
According to the data of China Banking and Insurance Regulatory Commission, by the end of November 2021, real estate loans had increased by 8.4% year-on-year, and remained stable as a whole. Financial support for the long-term rental housing market and affordable housing construction has been strengthened, and the growth rate of loans invested in the housing rental market is close to five times the average growth rate of various loans.
In December 2020, the people's Bank of China and the China Banking and Insurance Regulatory Commission issued the notice on establishing a management system for the concentration of real estate loans of banking financial institutions, which set two upper limits for the proportion of real estate loans and individual housing loans. When the system was issued, it was mentioned in the reporter's question that in order to support the development of the housing rental market, after the corresponding statistical system is established, the loans related to housing rental that meet the definition will not be included in the centralized management.
accelerate the development of affordable rental housing
Industry experts generally believe that this move is conducive to accelerating the development of affordable rental housing, promoting the establishment of a housing system combining rent and purchase, improving the housing security system, and helping to solve the housing difficulties of new citizens and young people.
The central economic work conference held in December 2021 stressed that we should explore a new development model, adhere to the simultaneous development of rent and purchase, accelerate the development of long-term rental housing market and promote the construction of indemnificatory housing. The National Conference on housing and urban rural construction held at the beginning of this year pointed out that in 2021, 40 cities across the country will raise 942000 sets of affordable rental housing. In 2022, the supply of affordable rental housing will be greatly increased. Focusing on large cities with net population inflow, 2.4 million sets (rooms) of affordable rental housing will be built and raised throughout the year.
The Ministry of housing and urban rural development disclosed at the press conference of the state information office in January that during the 14th Five Year Plan period, 40 key cities initially planned to add 6.5 million units (rooms), which is expected to help 13 million new citizens and young people alleviate their housing difficulties.
In addition, according to the reporter's combing, the relevant plans for the 14th Five Year Plan period released by various localities show that Shanghai plans to add more than 470000 affordable rental housing units (rooms) during the 14th Five Year Plan period, reaching about 40% of the total supply of new housing; Beijing plans to increase the number of affordable rental housing units, accounting for no less than 40%; Shenzhen plans to raise no less than 400000 affordable rental housing units, accounting for about 45% of the total housing construction.
