薛鹤翔：共筑楼市平稳发展新格局——上海825房地产新政点评

Core Viewpoint - Shanghai's new real estate policy aims to meet residents' housing needs and promote a stable market by adjusting housing purchase restrictions, optimizing housing provident fund, improving personal housing loans, and refining property tax regulations [1][2][3]. Group 1: Housing Purchase Restrictions - The adjustment of housing purchase restrictions focuses on "loosening regulations outside the outer ring and equal rights for single individuals," effectively releasing both rigid and improvement demands [2][6]. - Local families and single adults can purchase unlimited properties outside the outer ring, while non-local individuals can buy without restrictions after one year of social insurance in the outer ring and can buy one property in the inner ring after three years [2][3]. Group 2: Housing Provident Fund Optimization - The housing provident fund policy enhances support for housing consumption by increasing loan limits and allowing withdrawals for down payments without affecting loan amounts [2][3]. - For green buildings, the loan limit is raised by 15%, with the maximum for first-time buyers reaching 1.84 million yuan and for multi-child families up to 2.16 million yuan [2][3]. Group 3: Commercial Loan Rate Mechanism - The commercial loan interest rate mechanism is simplified, eliminating the distinction between first and second homes, allowing banks to set rates based on market conditions and customer risk [3][4]. - This change may lead to lower interest rates for some clients, reducing monthly payments and easing the financial burden on borrowers [3][4]. Group 4: Property Tax Improvements - The property tax policy is optimized to align with purchase restrictions, exempting non-local first-time buyers from property tax and allowing exemptions for second homes based on per capita area [3][4]. - This adjustment aims to lower the holding costs for non-local buyers, enhancing their willingness to enter the market and promoting supply-demand balance in the real estate sector [3][4].