Encourage the withdrawal of provident fund for down payment, and make it clear!
BEIJING, Beijing, August 16 (Zhongxin Finance reporter Zuo Yukun) "In 2022, the deposit of housing provident fund reached 3,193.505 billion yuan, an increase of 277.818 billion yuan, an increase of 9.53% over the previous year." The above data were disclosed in the Annual Report of National Housing Provident Fund in 2022 jointly issued by the Ministry of Housing and Urban-Rural Development, the Ministry of Finance and the People’s Bank of China.
The further expansion of the benefits of the housing provident fund system has also made it one of the important means of real estate market regulation. From encouraging the withdrawal of provident fund for down payment, to increasing the loan amount of provident fund and increasing the withdrawal amount of provident fund for renting houses … … At present, the housing accumulation fund system in many places is quietly changing.
Encourage the withdrawal of provident fund as a down payment trend
Recently, Meizhou Housing Provident Fund Management Center of Guangdong Province issued the Work Plan of Meizhou Housing Provident Fund to Support the High-quality Development of the Real Economy, and launched 23 measures in five major aspects, clearly proposing to encourage residents to buy self-occupied housing and withdraw housing provident fund as down payment.
On August 10th, the Housing Provident Fund Management Center of Fuyang City, Anhui Province issued the Notice on Supporting the Withdrawal of Housing Provident Fund to Pay the Down Payment for House Purchase, clarifying that those who apply for housing provident fund loans for the first time to purchase self-occupied new commercial housing can apply for withdrawing the balance of the provident fund account to pay the down payment for house purchase.
On August 4, Hainan Provincial Housing Provident Fund Administration and Hainan Provincial Department of Housing and Urban-Rural Development issued a notice, allowing Hainan to withdraw housing provident fund to pay the down payment for the purchase of new commercial housing and affordable housing in the province.
Under the guidance of the goal of improving the purchasing ability of housing provident fund depositors, encouraging the withdrawal of provident fund for down payment has been written in many documents.
"The principle of using the provident fund is to consume first and then withdraw. Without this policy, the provident fund can only be withdrawn after the transfer, but the down payment is basically paid at the time of transfer. Therefore, if you want to use the provident fund for the down payment, you need one more ‘ Crossing the bridge ’ Steps. " Mr. Jiang, who has been engaged in the real estate industry for many years, explained to reporters that it is not necessary to "pay first and then mention" to pay the down payment with the provident fund after the launch of the New Deal, which is equivalent to the difference between "withdrawing money before buying a house" and "buying a house before withdrawing money".
"At present, the withdrawal of provident fund for down payment has indeed become a trend." Yan Yuejin, research director of Yiju Research Institute, believes that this policy further illustrates the linkage relationship between "provident fund withdrawal-down payment capacity boost", which is helpful to promote the rational utilization of provident fund resources to a great extent, which in turn is conducive to improving residents’ ability to purchase houses.
In fact, in the current adjustment cycle of the property market, allowing the withdrawal of housing provident fund to pay the down payment has been practiced and expanded in many places. According to the monitoring data of the middle finger, since 2022, Fuzhou, Zhongshan, Nanjing and other places have successively issued relevant policies, and it has gradually become a consensus to revitalize and promote housing transactions with provident funds.
Chen Wenjing, director of market research at the Central Finger Research Institute, believes that for qualified employees who purchase houses, it is allowed to withdraw the provident fund to pay the down payment for the purchase of houses, which is conducive to reducing the pressure on capital turnover in the early stage and contributing to the release of housing demand; On the other hand, for property buyers who are willing to reduce loan expenses, the withdrawal of provident fund also provides additional funds, increasing the proportion of down payment that can be paid.
The integration of provident fund and rental housing is deeper.
On August 14th, according to the message of "Summer Capital Xining" on WeChat WeChat official account, in order to further support families with many children to solve the housing problem and reduce the financial burden of families with many children in renting houses, Xining Housing Provident Fund Management Center has implemented new regulations, which will increase the limit of the amount of rent withdrawal for families with many children.
On August 11th, the "Chengdu Publishing" WeChat WeChat official account posted a message, and the Chengdu Housing Provident Fund Management Center publicly solicited opinions, including that the payers of housing provident fund who meet the conditions for renting houses can authorize the Chengdu Provident Fund Center to directly transfer the withdrawal amount to the operating enterprises every month to pay the rent.
Reflected in the rental, the adjustment of the amount and frequency of provident fund withdrawal has also penetrated into first-tier cities. On August 3rd, Shenzhen Housing and Urban-Rural Development Bureau publicly solicited opinions from the public, and proposed to raise the standard of employee housing provident fund rental quota in stages. One of them is that it is proposed to raise the housing provident fund rental withdrawal amount to 80%.
Li Yujia, chief researcher of the Housing Policy Research Center of Guangdong Planning Institute, believes that these changes in the housing provident fund are to make it the inclusive finance in the housing field, and to support reducing the cost of renting or buying houses for residents is its core essence.
"The original intention of the housing provident fund system was to solve the housing problem of urban residents." Zhao Xiuchi, president of capital university of economics and business Beijing-Tianjin-Hebei Real Estate Research Institute and vice-president and secretary-general of Beijing Real Estate Law Society, believes that by increasing the withdrawal quota of housing provident fund rental housing, it will help to reduce the burden on depositors to rent or buy houses, improve their ability to rent or buy houses and improve their living standards.
"This also strongly supports the development of the rental market and is conducive to the change of residents’ concept of repurchasing light rent." Zhao Xiuchi thinks.
The adjustment will continue to deepen.
From the perspective of policy optimization in the field of multiple rounds of housing accumulation fund, on the basis of further supporting the rigid and improved housing demand, it is gradually reflecting the breadth and depth of policy refinement.
According to the monitoring of the middle finger, in the first half of the year, more than 300 policies were issued in more than 100 provinces, cities and counties, and optimizing the provident fund policy is still one of the important means. The specific implementation includes policies such as increasing the amount of provident fund loans, reducing the down payment ratio of provident fund, "one person buying a house to help the whole family", supporting "business-to-public" loans, and increasing the amount of provident fund for renting houses, so as to increase the support of provident fund for buyers and improve the efficiency of provident fund use.
On the tone of "policy for the city", some cities have chosen a more vigorous and innovative way. For example, Qingdao expanded the "mortgage transfer" business of stock houses to housing provident fund portfolio loans, and liberalized the loan type restrictions of buyers and sellers; Guiyang’s new phased housing provident fund policy will cancel the restrictions on the residence registration of foreign loans.
From the analysis, it seems that these cities’ attempts to adjust the provident fund policy have outstanding accuracy, continuity and effectiveness, which not only plays the role of housing provident fund in supporting people’s livelihood, but also inherits the trend of easing the property market policy this year. In the short term, all localities will continue to combine the actual situation of their own provident fund use with the city’s policy. (End)