Original title: Beijing’s “recognizing housing and loan” loosening? Eligible seniors can jointly apply for a loan with their children for a minimum down payment of 35%
Beijing’s “recognizing housing and loan” loosening? Eligible seniors can jointly apply for a loan with their children for a minimum down payment of 35%
Photo by Li Kaixuan of Beijing Property Market
China Times (www.chinatimes.net.cn) reporter Li Kaixuan and Li Beibei reported in Beijing
“Does this mean that Beijing’s ‘recognizing house and loan’ has loosened up?” On the evening of August 4, an online user left such a comment under an article published by a real estate big V. “China Times” reporter noticed. On August 4, the Beijing Municipal Commission of Housing and Urban-rural Development issued a document stating that three projects will be piloted for all-age friendly projects, and the elderly who purchase these three projects can enjoy a minimum down payment ratio of 35% without a house or a loan in transit. Co-borrowers apply for a loan.
The industry believes that Beijing has implemented certain loose policies for specific groups to purchase specific housing, which has a strong signal significance. While several cities are piloting the “Family Help for Young People to Buy Houses”, Beijing has started “Family Help for the Elderly”. However, due to the limited number of projects, experts believe that the policy will have less impact on the market.
Provide home buying support
On August 4, the official account of the Beijing Municipal Commission of Housing and Urban-Rural Development issued a document stating that three plots of Changping Pingxifu, Shunyi Fuhuan, and Xuedarenzhuang were selected to pilot the “all-age friendly community” project. It is reported that the pilot project will be suitable for the elderly in terms of supporting facilities, indoor space, traffic flow design, public space, smart applications and safety protection, etc., and will also take into account the living needs of citizens of other age groups to create a community suitable for all ages. and residential products.
It is worth noting that the Beijing Municipal Commission of Housing and Urban-Rural Development stated that considering that most elderly families have relatively weak ability to pay for house purchases, the loan period is also limited due to age. In order to effectively solve the practical difficulties of elderly families in purchasing houses, with the approval of the municipal government, certain support policies will be given to elderly families (60 years old and above) in the central urban area who purchase the above-mentioned three major pilot projects and move their household registration to the location of the pilot projects.
Specifically, for elderly families who do not own a house and do not have a loan in transit, the down payment ratio for ordinary housing in the pilot project is 35%, the down payment ratio for second housing is 60%, and the down payment ratio for non-ordinary housing is 40%, and they can all enjoy the corresponding loans. Prime rate. In addition, another major focus of the policy is that children can apply for loans as co-borrowers.
The Beijing Housing and Urban-rural Development Commission stated that in specific areas, the policy of providing housing support to specific groups of qualified groups for specific projects is guided by the implementation of the new version of the city’s overall planning, the promotion of population de-population in central urban areas, and the development of new towns in the plains. The urban policy supports the spirit of rigid and improved housing needs, and on the basis of maintaining strict control of real estate, it is a measure that is precisely implemented to solve the difficulties of elderly families in purchasing houses for the elderly.
In the follow-up, Beijing will further expand the construction of all-age friendly projects on the basis of summarizing the pilot experience, and at the same time study the support measures for reasonable housing needs such as families with multiple children and balanced housing purchases.
Loose recognition of housing and loan?
To sum up, as long as the elderly in the central urban area of Beijing have no housing and no mortgage being repaid, they can purchase the above three pilot projects with a minimum down payment of 35%, and their children can continue to repay the loan.
“China Times” reporter learned that at present, Beijing implements the “recognize house and loan” rule when buying a house, that is, as long as the family has a record of housing loan nationwide, it will be recognized as a second set of commercial housing in Beijing. The minimum down payment for residential properties is 60%, and the minimum down payment for non-ordinary properties is 80%.
“Subscribing to a loan is really a high threshold for buying a house in Beijing. We have already paid enough social security and are eligible to buy a house in Beijing. But when we got married, we bought a house in our hometown in Shandong, and the loan has been repaid, but Because of the loan, buying the first house in Beijing also requires a down payment of at least 60%, and the pressure is too great.” On the evening of August 4, Mr. Lin, who has worked in Beijing for seven years, told a reporter from China Times.
Then, the elderly in the central urban area of Beijing can enjoy a down payment ratio of 35% as long as they do not have a house and have a loan record but have paid it off. Adding in the “relay loan” that children can participate in, to some extent, this is a small loosening of Beijing’s housing policy.
On the evening of August 4, Yan Yuejin, the research director of the Think Tank Center of the E-House Research Institute, told a reporter from China Times that the elderly can also enjoy the policy of “one person buying a house and the whole family can help” when buying a house. Children apply for loans as co-borrowers, which makes the elderly Loan eligibility and higher loan support are available. In addition, Yan Yuejin said bluntly: “Beijing has implemented loose policies for specific groups and specific real estate, which has a strong signal significance.”
What is the impact on the market?
In fact, the “China Times” reporter noticed that starting from the beginning of 2022, first-tier cities and some popular real estate cities have “relaxed” on the purchase policy.
On July 6, Shenzhen issued a document to adjust the housing provident fund policy. The applicant’s spouse, parents, and children can be co-applicants regardless of whether they have paid housing provident funds. As early as early June, Zhuhai issued a document stating that employees who have deposited provident funds in Zhuhai City can withdraw 90% of the account balance to help their immediate family members pay the down payment for buying a house, or they can withdraw the provident fund on a monthly basis to help their immediate family members. Immediate family members repay home loan.
In essence, the policy of “one person buying a house for the whole family” has eased the financial pressure of home buyers, lowered the threshold for home purchases, and simultaneously stimulated more demand to enter the property market. This time, Beijing is a kind of targeted support. Eligible seniors can not only enjoy a lower down payment ratio, but also allow their children to take over the loan repayment.
So, will Beijing’s housing support for the elderly have an impact on the overall market? Wang Xiaoqiang, chief analyst of Zhuge Housing Research Center, told the “China Times” reporter that there are currently few pilot projects, which will have little impact on the overall real estate market in the short term. The harmonious and stable development of the city.
It is worth noting that there is a view in the industry that the “relaxation policy” of real estate is gradually expanding from third- and fourth-tier cities to first- and second-tier cities. Recently, a number of real estate agents in Shanghai said that the principle of “three prices is lower” for second-hand housing applications in Shanghai has loosened, resulting in an increase in the amount of loans available to homebuyers.Return to Sohu, see more
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