Following the adjustment of the down payment ratio of the first house loan in Heze, Shandong Province from 30% to 20%, Ganzhou, Jiangxi and Chongqing have also been exposed by the media, and the down payment ratio of local banks has been reduced to 20%.
Affected by this, there was a collective change in the real estate sector on Friday, and the share prices of many listed companies in the real estate industry, such as Chongqingyukaifaco.Ltd(000514) , Tahoe Group Co.Ltd(000732) , Black Peony (Group) Co.Ltd(600510) , rose by the limit.
The reporter learned from several intermediary offices in Ganzhou, Jiangxi province that at present, only a few local banks such as Postal Savings Bank Of China Co.Ltd(601658) implement a 20% down payment ratio for high-quality customers. Since the implementation began only after the Spring Festival, the promotion is still very small.
Intermediaries in Chongqing also broke the news: “banks in Chongqing will successively launch 20% down payment in December 2021. At present, customers with better qualifications are 20% down payment, and in most cases, it is still 30%
less promotion
China Securities News reporter learned that the above areas exposed by the media have not been promoted on a large scale.
The president of a city commercial bank in Heze, Shandong told the China Securities Journal that at present, the minimum is 20% down payment, but there are few cases, and only high-quality customers can enjoy it.
The person in charge of housing loans of a local state-owned bank in Heze told the reporter of China Securities Journal: “the down payment ratio adjusted to 20% has not been announced yet. It can only be said that this is the case.”
Wang Hua (a pseudonym), a senior intermediary in Ganzhou, Jiangxi Province, told the China Securities Journal that individual banks in Ganzhou only implemented a 20% down payment ratio after the Spring Festival. Ganzhou currently has no purchase restrictions, and the house price is between 6000 yuan / m2 and 7000 yuan / m2, slightly lower than the historical peak of more than 8000 yuan / m2 in previous years.
Wang Hua stressed that since last year, bank lending has basically been in the field of new housing. In 2022, the lending of second-hand houses has been loosened.
Intermediaries in Chongqing told the China Securities Journal that banks in Chongqing successively implemented the 20% down payment standard in December 2021. At present, loans are limited in Chongqing. A local family can only buy two suites through loans, and outsiders can only pay in full. The relaxation of the down payment ratio is good for the local people who just need it.
According to a table of loans from local banks in Chongqing provided by the staff of shell housing search platform, at present, the minimum down payment ratio of China Merchants Bank Co.Ltd(600036) , Industrial Bank Co.Ltd(601166) , China Citic Bank Corporation Limited(601998) , China Everbright Bank Company Limited Co.Ltd(601818) , Hua Xia Bank Co.Limited(600015) , Industrial And Commercial Bank Of China Limited(601398) , Bank Of Chongqing Co.Ltd(601963) first house loans is 20%< Image source: Chongqing intermediary salesperson
helps drive market sentiment
Chen Wenjing, deputy director of the index division of the China Index Research Institute, told the China Securities Journal that the housing loan restriction policy has a great impact on home buyers. The reduction of the down payment ratio and its implementation in the above areas is a positive signal, which is expected to better drive the market sentiment. The wait-and-see mood of home buyers may change, and the confidence of home buyers will be boosted to a certain extent. At the same time, more cities may follow suit in the future, especially the third and fourth tier cities with weak urban fundamentals and high market adjustment pressure.
According to the monitoring data of Shell Research Institute, in January 2022, the average mortgage interest rate and lending cycle in 103 key cities have returned to a reasonable level in mid-2021, of which the mainstream mortgage interest rate in 59 cities has been reduced month on month. In terms of lending cycle, the lending cycle of 64 cities was shorter than that of last month, and the bank lending of four first tier cities was accelerated.
A financial manager of a joint-stock commercial bank in Guangdong pointed out to the reporter of China Securities Journal that banks have always had the tradition of “lending for the first year and deposits rush to the end of the year”. Every year, the “good start” is the best time to grab the loan limit. Everyone is grabbing the loan limit, and early investment can get early benefits. Housing loans are still the focus of this year.
