In Report to the 20th CPC National Congress, CPC, the development direction of real estate was expounded under the general framework of "enhancing people’s livelihood and improving people’s quality of life". Specifically, it was put forward that the house should be used for living, not for speculation, and the housing system with multi-subject supply, multi-channel guarantee and simultaneous rent and purchase should be established.
How will this affect the housing system and the development of the real estate market in China?
Reiterate that "housing is not speculation"
Since the end of 2016, the Central Economic Work Conference first put forward the position that "houses are used for living, not for speculation", and "houses are not used for speculation" was also written into the report of the 19th National Congress of the Communist Party of China in October 2017.
"In the past few years, despite the ups and downs of the real estate industry, the central government has supported all localities to optimize the property market regulation policies due to urban policies, and’ staying in the house and not speculating’ has always been the policy to stick to the bottom line." Chen Wenjing, director of market research in the Index Division of the Central Finger Research Institute, believes that after years of development, the concept of "housing without speculation" has been deeply rooted in the hearts of the people and has become a social consensus. Buyers have become more rational in buying their own homes, and the residential properties of housing have been continuously strengthened.
Chen Wenjing said that Report to the 20th CPC National Congress Middle School once again emphasized that "houses are for living, not for speculation", which showed the firm policy. At the same time, it also means that "houses are not for speculation" will become the long-term orientation of China’s real estate industry, and then the foothold of real estate development will focus more on protecting people’s livelihood and improving quality.
"In the future, reasonable housing demand will still be the main target of policy support and encouragement. There is still room for the release of rigid and improved housing demand, especially the people’s need for a better life is increasingly extensive, and improved housing demand may become the key support of the market." Chen Wenjing said.
Let’s talk about "rent and purchase simultaneously"
In addition to "housing is not speculation", "renting and purchasing at the same time" is also a familiar formulation.
Report to the 20th CPC National Congress’s statement of "accelerating the establishment of a housing system with multi-agent supply, multi-channel guarantee and simultaneous rent and purchase" is consistent with the report of the 19th National Congress.
"The focus of work is not where to go, but how to go." Yan Yuejin, research director of the think tank center of Yiju Research Institute, said that this fully shows that the housing system reform in the next five years will come down in one continuous line with the thinking of the 19th National Congress, that is, the general direction will remain unchanged.
Li Yujia, the chief researcher of the Housing Policy Research Center of Guangdong Provincial Planning Institute, also believes that this aspect shows that the housing system with both rent and purchase must be promoted with the strategic thinking of waiting for time; On the other hand, the construction of this system needs a process to achieve the real simultaneous development of "rent" and "purchase".
But there are also differences behind the same expression.
Yan Yuejin pointed out: In the report of the 19th National Congress, the reform of the housing system was discussed under the framework of "improving security and improving people’s livelihood"; Report to the 20th CPC National Congress is carried out under the framework of "enhancing people’s livelihood and improving people’s quality of life". It can be seen that on the basis of protecting people’s livelihood, improving quality is also an important content. In other words, the housing system reform should take into account the dual goals of protecting people’s livelihood and improving quality.
Li Yujia further analyzed and pointed out that the top-level thinking of housing work in the new era is very clear, that is, "housing and living without speculation" and "renting and purchasing simultaneously". The former is the overall situation of housing work, and it is the top-level guidance for the whole country to carry out industry and market management, innovate management mode and long-term mechanism, and promote the construction of new housing system and system; The latter is the top-level design for China to further promote the reform of housing system, explore new models of real estate development and promote the high-quality development of housing.
"Rent and purchase simultaneously" is expected to accelerate.
At the end of 2015, the Central Economic Work Conference mentioned the development of the housing rental market for the first time, and emphasized that the development of the housing rental market was significantly accelerated after "both rent and purchase" was established as the main direction of China’s housing system reform.
"At present, China has initially formed a good trend of multi-agent development of rental housing. State-owned leasing enterprises have played a leading, standardizing, activating and regulating role in the market, and more specialized and institutionalized housing leasing enterprises have actively participated in market construction." Zhao Ran, dean of ICCRA Housing Leasing Industry Research Institute, said.
"Since the second half of last year, the state has taken substantial steps in promoting the construction of affordable housing, lowering the threshold for new citizens to settle down, leasing can be settled in collective households, building rental communities, and combining rent and purchase." Li Yujia believes that the construction of the housing system with both rent and purchase will be accelerated in an all-round way in the next five years with the joint efforts of relevant subjects.
"To develop the housing rental market, especially long-term leasing, the key lies in providing large-scale and professionally managed housing through multiple channels, expanding the effective supply of rental housing and enhancing the sustainability of development." Zhao Ran proposed that all localities should incorporate new rental housing into housing development planning and reasonably determine the scale of rental housing construction in combination with factors such as housing supply and demand.
"More importantly, as the real estate market in China gradually changes from an incremental market to a stock market, we can actively revitalize the stock assets through the transformation of stock houses, so that the supply of rental housing can move towards a sustainable development path." Zhao Ran said.
(China News Network)