Wuhan: The housing purchase restriction policy is cancelled, and the second home purchased by a family with multiple children is considered the first home | soccer accumulator tips, texas poker idn

On September 19, six departments including the Wuhan Municipal Housing Security and Housing Administration Bureau of Hubei Province issued the "Notice on Further Promoting the Stable and Healthy Development of the Wuhan Real Estate Market", clearly canceling housing purchase restrictions and optimizing the standards for determining the number of household housing loans.

The "Notice" clearly states that starting from September 19, 2023, the housing purchase restriction policy within Wuhan's Second Ring Road will be canceled to meet residents' rigid and improved housing purchase needs. For families with multiple children, when purchasing a home loan, the second home purchased is deemed to be the first home, and the third home purchased is deemed to be the second home. For a family that already has two houses, if they purchase a new house while one is listed for sale or rented, it will be deemed as the second house when purchasing a home loan.

In terms of supporting residents to exchange for housing, the "Notice" clarifies that from September 19 to December 31, 2023, for taxpayers who sell their original housing and purchase new commercial housing within six months, and who sell the original housing after purchasing the new commercial housing before the house is delivered, the financial department of the district where the new commercial housing is purchased will provide a subsidy of 1% of the value-added tax paid on the sale of the original housing.

At the same time, Wuhan provides preferential support for home purchases and adjusts the housing provident fund loan limit in stages. Before December 31, 2023, those who purchase the first newly built commercial housing can enjoy 10,000 yuan in digital consumption coupons for home appliances and furniture or house purchase consumption coupons. We will continue to carry out online and offline housing fairs, and those who purchase their first home during the housing fair will be given a subsidy based on the deed tax payable, and those who purchase a second home will be given a subsidy discount based on 50% of the deed tax payable.

Before December 31, 2023, if employees with housing provident fund deposits purchase ordinary self-occupied housing in Wuhan, the loan limit can be increased by 20% based on the current loan limit of the employee's family, while not exceeding the maximum loan limit of Wuhan provident fund loans (i.e., the maximum loan limit for a family's first home loan is 900,000 yuan, and the maximum loan limit for a family's second home loan is 700,000 yuan). The loan limit increase policy does not overlap with other housing provident fund loan increase policies.

When Wuhan held the 39th Wuhan Real Estate Fair in December last year, it implemented a policy of no purchase restrictions outside the Second Ring Road, which has continued to this day. This time Wuhan has canceled the housing purchase restriction policy within the Second Ring Road, that is, the purchase restriction has been lifted throughout Wuhan.

Previously on August 31, the Office of the Wuhan Leading Group for Establishing and Improving the Long-term Mechanism for the Stable and Healthy Development of the Real Estate Market issued a document clarifying that "recognizing a house but not a loan" was issued. The document stated that when a household (including borrowers, spouses and minor children) applies for a loan to purchase commercial housing in Wuhan, if the family member does not have a complete house in Wuhan, regardless of whether the loan has been used to purchase a house, banking financial institutions will implement housing credit policies based on the first house.

According to the 70-city housing price index of the National Bureau of Statistics, in August, the price of newly built commercial housing in Wuhan fell by 0.5% month-on-month and increased by 0.5% year-on-year, halting the downward trend year-on-year.

According to data released by the Wuhan Housing Security and Housing Administration Bureau on September 6, 7,175 new commercial housing units were sold in Wuhan in August 2023, a month-on-month increase of 47% and a year-on-year decrease of 25.26%; the transaction area was 772,900.7 square meters.

AtIn terms of inventory, statistics from the Wuhan Municipal Housing Security and Housing Administration Bureau show that as of the end of June 2023, Wuhan has approved pre-sale of approximately 160,000 units of commercial housing that have not yet been signed online, covering an area of ​​18.31 million square meters. According to monitoring data from the China Index Research Institute, in the first half of this year, the sales rate of new homes in Wuhan was only 20%.

The founder of Jingjian Consulting, Zhang Hongwei, analyzed that Wuhan directly canceled purchase restrictions this time because it faced greater pressure to destock. The main inventory in Wuhan is in areas outside the third ring road. The pressure to destock in these areas is very high, and most of them are just-demand properties. Competition for improvement projects within the third ring road in the main urban area is relatively less fierce. Judging from the current performance of the market in Wuhan in September, the demand for improvement is average, and only a few high-end improvement projects have attracted buyers. Zhang Hongwei predicts that Wuhan will still introduce other policy combinations in the future to increase the intensity of destocking.

In addition, the "Notice" proposes to revitalize corporate assets and accelerate the revitalization of existing land. For commercial houses that are stipulated in the land transfer contract to be self-owned by the real estate development enterprise, they are allowed to be transferred as a whole in the form of new commercial houses with the approval of the local government without changing the planned use of the houses and without affecting the performance of the original land transfer contract. After the overall transfer, the relevant rights and obligations stipulated in the original land transfer contract will be borne by the new transferee.

For existing state-owned construction land that has been transferred but has not yet been constructed and there are no legal disputes, the local government will organize a feasibility study on land resumption and planning optimization. After reporting to the municipal government for approval and completing relevant work in accordance with the procedures, the land supply can be re-implemented. The resumption of existing land should comply with relevant regulations, and after optimization of planning, it can meet the carrying capacity of public service facilities and basic supporting facilities without affecting the implementation of core functions of key functional areas.

The "Notice" requires strengthening precise land supply and encouraging innovation in residential unit design. Based on the inventory of new houses in each district, we will implement precise land allocation, accelerate the supply of clean residential land in central urban areas with good locations and complete supporting facilities, and speed up project approval, construction, and listing. Support the transformation and development of enterprises, optimize technical specifications such as residential balcony depth and area ratio control requirements, and promote innovation in new residential design.

The "Notice" states that due to the impact of the epidemic, for projects that have not paid the land price in accordance with the land transfer contract or reserve land development compensation agreement before April 8, 2023, the payment can be deferred in accordance with the requirements of the relevant provincial and municipal enterprise relief documents. Real estate development companies that are registered in Wuhan and are in good operating condition, have not had any debt defaults in the past three years, have not had major quality and safety accidents in the group and its affiliated companies in Wuhan, have not caused group petitions due to their own business operations, and have no record of being classified as "untrustworthy" or "height-limited" by the court, can be included in the "white list" management. Under the premise that risks are controllable, real estate development companies included in the "white list" can apply for pre-sale licenses in advance.