According to Xinhua News Agency, Beijing, April 30.SlotgamesThe political Bureau of the CPC Central Committee held a meeting on April 30.

The meeting stressed the need to continuously prevent and defuse risks in key areas. We will continue to implement policies based on the city, consolidate the responsibilities of local governments, real estate enterprises and financial institutions, earnestly do a good job in ensuring the delivery of houses, and protect the legitimate rights and interests of property buyers. In the light of the new changes in the relationship between supply and demand in the real estate market and the people's new expectations for high-quality housing, we should comprehensively study policies and measures to digest the stock of real estate and optimize incremental housing, and step up efforts to build a new model of real estate development. promote high-quality development of real estate. It is necessary to thoroughly implement local government debt risk resolution programs to ensure that high-risk provinces, cities and counties can not only truly reduce debt, but also develop steadily. We should continue to promote the reform of small and medium-sized financial institutions and take more measures to promote the healthy development of the capital market.

The strength of "ensuring the delivery of houses" continues.

The review of the Institute of the Central finger pointed out that this meeting sent a positive signal: on the one hand, macroeconomic policies are expected to rely on forward efforts to promote the continued recovery of the macro economy; on the other hand, the Politburo meeting set the tone for the property market, and the prevention and resolution of real estate risks is still the focus. At the same time, it puts forward policies and measures for overall study and digestion of stock real estate and optimization of incremental housing, pointing out the direction for the following real estate policy.

The meeting of the political Bureau proposed that we should continue to implement policies based on the city, consolidate the responsibilities of local governments, real estate enterprises, and financial institutions, earnestly do a good job in ensuring the delivery of houses, and protect the legitimate rights and interests of property buyers.

According to the industry, in the short term, it is expected that policies such as purchase restrictions and loan restrictions in core cities will be further optimized and adjusted, while the intensity of "guaranteed delivery" is expected to continue in order to protect the legitimate rights and interests of property buyers, ease residents' worries about the delivery of short-term housing, and stabilize market expectations.

Solve the problem as a whole from the demand side

The meeting of the political Bureau proposed that in the light of the new changes in the relationship between supply and demand in the real estate market and the people's new expectations for high-quality housing, it is necessary to comprehensively study policies and measures to digest the stock of real estate and optimize incremental housing.

Zhang Hongwei, founder of Mirror Consulting, believes that the overall study of policy measures to digest the stock of real estate and optimize incremental housing means that the policy will proceed from the demand side, and the systematic measures on "destocking" will gradually fall to the ground in the next few months.

In the view of Li Yujia, chief researcher of the Housing Policy Research Center of Guangdong Provincial Institute of Urban Planning, the policy measures to digest the stock of real estate and optimize incremental housing are mainly second-hand housing destocking and new housing de-stocking to achieve a virtuous circle.

Li Yujia pointed out that at present, the stock has become the main body, second-hand housing listing volume, transaction volume are larger than new houses. And the removal cycle of second-hand housing is much longer than that of new housing, and hot cities are generally more than 3 years.

Yan Yuejin, research director of Shanghai Yiju Real Estate Research Institute, believes that inventory removal is not only the central task of urban real estate work, but also the lifeline of major real estate enterprises. Only by doing a good job of inventory work can we really promote the recovery and boost of market transactions in various cities, and also help to better promote the return of funds and risk prevention and resolution of housing enterprises. De-inventory needs new ideas and accurate strategies, that is, second-hand housing listing factors into the new housing de-inventory thinking category. On the one hand, the second-hand housing listing is too large, for new housing, it is also easy to divert the relevant market demand. On the other hand, if the second-hand housing is not actively removed, it will also affect the landlord's sale and exchange of houses, which in turn makes the ability to pay for new houses obviously weak.

According to the Baicheng Housing inventory report released by Shanghai Yiju Real Estate Research Institute, in March this year, the inventory elimination cycle of newly built commercial housing in 100 cities across the country was 25.Slotgames.3 months, which means: at the current sales rate, the inventory of new homes on the market will take 25.3 months to digest. According to the historical data and the engineering construction relationship of "development-pre-sale" of real estate, the reasonable value of deposit-to-sale ratio is defined as 12-14 months. This shows that the current removal cycle is obviously on the high side, and it is easy to be troubled by the de-inventory and capital security of real estate enterprises.

What are the policy directions for digesting the stock of real estate and optimizing incremental housing?

Zhang Bo, director of Anjuke Research Institute, believes that the subsequent digestion of the stock of real estate is expected to include two directions: one is to "trade the old for the new" to better ensure and improve demand, and at the same time, combined with some old houses purchased by the government to enter the indemnificatory apartment system, the construction and opening of this chain is very important. Second, purchase restrictions are further relaxed, especially in first-tier cities, the threshold of purchase restrictions is expected to be further reduced, leading to the removal of more stock of real estate.

At the same time, the digestion of stock real estate also needs to be combined with the "transformation of villages in the city" to invigorate the stock of urban real estate, and fully consider updating the appearance of the city, strengthening and improving infrastructure construction, and improving the living environment of urban village residents. it will help to promote the activity of the real estate market and promote the growth of housing consumption.

Li Yujia pointed out that to comprehensively promote the trade-in of second-hand housing, developers should take out "good housing" with good quality and high performance-to-price ratio. We should not regard "trade-in" as an opportunity to get rid of inventory and tail goods. Let the "new" buyers really see that the new house they want to buy is a good house that can improve their living conditions.

As for the general direction of the optimization of incremental housing, Zhang Bo believes that the linkage mechanism of "people, housing, land, and money" is effectively landed, starting with the scientific allocation of factor resources, housing is determined by people, land and money is determined by housing, and the new supply of a large number of small and medium-sized cities will be adjusted synchronously with the reduction of population inflow. at the same time, the supply of super-large cities will also be dynamically adjusted with the change of crowd flow.

Zhang Bo mentioned that incremental housing and indemnificatory apartment consider as a whole how to turn it into indemnificatory apartment in cities with a large inventory of new houses, so as to simultaneously solve the problem of the shortage of indemnificatory apartment and the elimination of new housing inventory. In addition, the quality of incremental housing is optimized. The people have higher requirements for the quality of housing, hoping to live in better houses and get better services.

Li Yujia suggested that the land supply should be determined according to the generalized inventory, and the land supply should be suspended for the cities or regions with high digestion cycle of the generalized inventory (undeveloped land supply + unsold land already started + selling).