【新华解读】上海优化楼市政策 一线城市带动市场整体趋稳

Core Viewpoint - Shanghai's recent adjustments to real estate policies are more aggressive than market expectations, following similar moves in Beijing, which is expected to boost market sentiment and stabilize the real estate market [1][2]. Policy Adjustments - The new policy reduces housing purchase restrictions significantly, allowing local residents to buy unlimited properties outside the outer ring and limiting them to two properties within the inner ring. Non-local residents can also purchase without limits outside the outer ring if they have paid social insurance or income tax for at least one year, and are limited to one property within the inner ring if they have paid for three years [2][3]. - The adjustments are seen as a response to high inventory levels in certain areas, particularly outside the outer ring, which is expected to alleviate pressure on these markets [2][5]. Housing Loan Policies - The new regulations eliminate the distinction between first and second home loan interest rates, allowing banks to set rates based on their operational conditions and customer risk profiles. This change is expected to lower the cost of borrowing for residents [6][7]. - The unified interest rate for commercial personal housing loans is set at LPR-45 basis points, which is a reduction from previous rates, thereby easing the financial burden on homebuyers [6][7]. Market Impact - The policy changes are anticipated to stimulate demand in the outer ring market, reduce hesitation among potential buyers, and contribute to a healthier balance between housing supply and demand in the long term [5][10]. - The overall approach in Shanghai is viewed as broader and more impactful compared to Beijing's measures, with expectations that other cities like Shenzhen may follow suit, further enhancing market confidence [10].