Sales area of commercial residential buildings in Beijing increased 1.3 times year-on-year in the first quarter.

In the first quarter of 2019 , the sales area of commercial housing in Beijing increased by 87.2% over the same period last year (down 66.0%).Beijing Municipal Bureau of Statistics Map

Zhongxin Network Beijing April 19 (Reporter Du Yan) In the first quarter of this year , the sales area of commercial housing in Beijing reached 1477 ,000 square meters , an increase of 87.2% over the same period of last year. The driving role of affordable housing is obvious.Among them , residential sales area increased 1.3 times year-on-year.In the first quarter of last year , the sales area of commercial housing in Beijing fell 66.0% year on year.

This was disclosed by Xia Qinfang , deputy director of Beijing Statistical Bureau , at a conference held on 19 th.She said that in the first quarter of this year , the new housing construction area of Beijing real estate development enterprises was 3.709 million square meters , an increase of 1.4 times over the same period last year.Among them , the newly built area of residential buildings is 2.284 million square meters , an increase of 1.2 times over the same period of last year; office buildings are 30 ,000 square meters , a decrease of 26.8% over the same period of last year; commercial and business buildings are 113 ,000 square meters , an increase of 2.8 times over the same period of last year.

Talking about the sales situation , she said that in the first quarter of this year , the newly opened area of commercial housing in Beijing was 37.09 million square meters , an increase of 1.4 times over the same period last year (52.7% lower than the same period last year); the sales area of commercial housing was 1.477 million square meters , an increase of 87.2% over the same period last year (66.0% lower than the same period last year).Among them , the sales area of residential buildings is 1.224 million square meters , an increase of 1.3 times over the same period of last year; the sales area of office buildings is 83 ,000 square meters , an increase of 16.9% over the same period of last year; and the sales area of commercial buildings is 71 ,000 square meters , an increase of 18.3% over the same period of last year.

She emphasized that the sales area of affordable housing in Beijing reached 6.3 million square meters , an increase of 2.2 times , accounting for 42.7% of the total sales area of commercial housing in the city , an increase of 18.0 percentage points over the same period last year.

In addition , in March this year , 16051 second-hand houses in Beijing were registered online , the highest number since May 2018.The data released on the same day also showed that rental prices of rental housing in Beijing rose by 2.4% in the first quarter compared with the same period last year , and the increase rate fell by 0.7 percentage points compared with the same period last year.Fang Xiaodan , deputy head of the Beijing Investigation Team of the National Bureau of Statistics , said that in the first quarter , changes in supply and demand had played a positive role in stabilizing rent prices.On the one hand , supply has increased.Under the central government’s proposal of “speeding up the establishment of a housing system featuring multi-stakeholder supply , multi-channel security and simultaneous rent and purchase” , major intermediaries actively open up housing resources , increasing the number of second-hand houses sold and subleased , and increasing the number of rentable houses; on the other hand , with the healthy development of Beijing’s housing rental market , the regulatory system is gradually improved , and the rent price will be stable.(end)

What is the impact of the policy adjustment of the State-controlled Housing Provident Fund?

Recently , the State Administration Provident Fund has adjusted its loan policy , which has attracted many people’s attention.So what are the advantages and disadvantages of the housing provident fund system , and what is the impact of the adjustment of the national management provident fund policy on the market?The author talks about some opinions

Housing Provident Fund System is one of the contents of housing security systemSince the housing system of our country has changed from welfare system to commercialization , the housing subsidy has also changed from “hidden subsidy” to “explicit subsidy”. Housing provident fund is one of the manifestations of “explicit subsidy”.

Housing Provident Fund is a kind of compulsory long-term housing reserve , which is specially used to solve the housing problems of employees.Adopt the method of “individual deposit , unit subsidy” to raise fundsGenerally , a certain proportion of personal wages is deducted , and the same proportion is subsidized by the unit.According to the current regulations , the maximum deduction of personal wages is 12% , and the unit subsidizes 12% of personal wages.At present , the maximum monthly deposit amount in Beijing is 6096 yuan , and the maximum monthly deposit amount for employees and units is 3048 yuan.

Therefore , from the arrangement of housing provident fund system , housing provident fund is a kind of welfare for deposited workers.For individuals , the housing provident fund deposited by individuals can be regarded as reaching 100% of the monthly income.At present , most workers in our country have paid the housing provident fund and enjoyed the welfare of the housing provident fund. The housing provident fund is not the flesh of a few Tang monks.

According to the provisions of the Housing Provident Fund System , employees who deposit the Housing Provident Fund are also eligible to apply for housing provident fund loans. The interest rate of housing provident fund loans is lower , the loan term is longer , and the proportion of down payment of loans is lower , which is also a kind of welfare for buyers.At present , the interest rate of housing provident fund loans for more than five years is 3.25% and the benchmark interest rate of housing commercial loans is 4.9%. However , banks generally need to rise 1.1 times and the interest rate reaches 5.39%.According to Beijing’s loan policy , the down payment ratio of applying for housing provident fund loan for affordable housing purchase is only 20% , and the down payment ratio of purchasing common property right housing purchase is 30%.The down payment ratio of the first commercial housing loan is 35%.

Of course , there are also some shortcomings in the housing provident fund system. Some people think that one of the drawbacks of the housing provident fund system itself is unfair , that is , different depositors in different units deposit different housing provident fund , and different depositors in the same unit deposit more or less housing provident fund.According to the regulations , enterprises can choose the proportion of housing provident fund , which is between 5% and 12%.So , there is inequity between 5% and 12% of employees in enterprises.Even in the same unit , there is inequity among workers with different incomes.However , this kind of inequity is also reasonable , because in the market economy , the subsidies of housing provident fund of enterprises need the financial support of the units , and the difference of the provident fund of different employees in the same enterprise is also the performance of remuneration according to work.

According to the new policy of housing provident fund loan last year , the loan amount of housing provident fund is linked to the deposit period , and the loan amount can be 100 ,000 yuan for one year , and 1.2 million yuan for 12 years (more than 11 years).Some people think it’s unfair to young people.In fact , the housing provident fund system is a kind of mutual finance , which can not be regarded as a welfare system.From the perspective of mutual finance , it is also fair that whoever pays for a long time and pays more will have more loans.

At present , the housing loan policy of the State-managed Provident Fund is in line with that of the Municipal-managed Provident Fund. It not only recognizes housing but also subscribes loans , but also keeps the policy of the State-managed Provident Fund in line with that of the Municipal-managed Provident Fund , reflecting a fairness.

Certainly , the new policy of the State Administration Provident Fund will have a certain impact on some buyers , that is , those who have been identified as second-home buyers after subscribing to their houses and loans will adjust their loan amount from 800 ,000 yuan to 600 ,000 yuan , and can not enjoy the 20% or 30% down payment ratio. They can only accept the 60% down payment ratio , and only 40% of the loans will be received.

But it has little effect on the whole property market.Because the depositors of the state-managed provident fund account for only about 10% of the total depositors of the provident fund , and not everyone will be assigned to the scope of second-home loans.

The adjustment of the policy of the State Administration of Housing Provident Fund has taken care of the people in need of security housing and first suite. Depositors of affordable housing can only pay 20% down payment and get 80% of the loans. Depositors of other first housing can also get 70% of the loans , which makes the policy more targeted , protects the just need , restrains speculation and benefits real estate. Steady and Healthy Development of Market

The author is Zhao Xiuchi , Vice-President and Secretary-General of Beijing Real Estate Law Society and Professor of Capital University of Economics and Trade.

(Editor: Wang Yuehua Proofreading: Yan Jingning)

Economic Observation: Buying Houses in China’s First-tier Cities with China’s Economy and Foreign Capital

China News Agency , Beijing , April 19 (Reporter Pang Wuji). A wave of foreign investment is coming to office buildings and shopping malls in first-and second-tier cities in China , such as Guangzhou and Shenzhen.Foreign buyers , including Blackstone , Singapore Kaide Group and Real Estate Trust Fund exhibition , frequently “patronize” and invest heavily in building purchases.

Information map of Chongqing High BuildingAccording to the statistics of the same policy and management , in the first three months of this year , there have been eight large-scale transactions by foreign-funded institutions in the mainland of China , totaling over 30 billion yuan (RMB , the same below). Only one institution in Blackstone has made nearly 20 billion yuan.

In March , foreign media revealed that Blackstone planned to buy Changtai Plaza , known as Shanghai’s largest open shopping mall , at a price of $1.5 billion.Blackstone Group has also acquired 50% stake in three shopping malls in Xi’an , Zhengzhou and South Korea under the US commercial real estate giant Taborman for $480 million this year , and has taken over 69.54% stake in Hong Kong International Construction Investment Corp. , a subsidiary of Haihang Group , for HK$7.023 billion.In addition to Blackstone , Kaide Group has invested 2.752 billion yuan to acquire about 70% of Shanghai Pufa Tower this year. The exhibition property fund has also acquired two shopping centers in Futian District of Shenzhen City and Tongzhou District of Beijing for 6.6 billion yuan and 2.56 billion yuan , respectively.

Yan Jihai , managing director of Gaoli International North China Region , pointed out in an interview with China News Agency on 19 th that since last year , foreign investment has indeed increased its attention to the north and has successfully acquired many projects.According to its statistics , one third of China’s property transactions last year were completed by foreign capital , and this year , foreign capital “buy houses” still maintained a strong momentum.

Take Beijing as an example , according to data provided by Gaoli International , only 1% of transactions in Beijing’s large-scale property transactions were contributed by foreign capital in 2016 , and by 2018 , this figure jumped to 25%.Shanghai’s foreign buyers’turnover also increased from 35% in 2017 to 48% last year.

p>This is not the first time that foreign capital has set off a real estate investment boom in China.Around 2005 , China also witnessed a wave of foreign-funded building purchases , and many urban landmarks were purchased by foreign investors.However , since 2006 , China has issued a number of policies to restrict foreign investment in real estate speculation. Foreign investment in real estate has begun to cool down , and the number of property purchases has dropped dramatically.Until 2015 , when the “restriction order” of real estate was loosened , the number of foreign purchases of domestic property began to show an upward trend.

Since the second half of last year , China’s real estate market has stabilized , vacancy rates in office buildings and shopping malls have increased in many cities , and rents have been lowered. Why do foreign investors increase their efforts to buy at this time?

Yan Jihai pointed out that foreign capital “buy-buy-buy” is mainly based on its confidence in China’s economic development , optimistic about China’s growth prospects.Secondly , it is also related to the current low exchange rate of RMB against the US dollar and the relatively low cost of overseas financing , which are attractive to foreign investors.Of course , because the market has more items to buy in the near future than in previous years.It is worth noting that since last year , a series of measures taken by the Chinese government to expand the opening up , including the Foreign Investment Law to be implemented early next year , have also contributed to the vigorous development of foreign investment.Yan believes that the active foreign investment is related to the relaxation of China’s access system. Especially from the previous approval system to the reporting system , China’s policy on capital inflows is more liberal.

Blackstone Group and other international private equity funds have always been good at “buying low and selling high”. Whether the accelerated layout of China’s commercial real estate is to copy the bottom?

Yan Jihai does not consider it to be a copy of the bottom.He pointed out that asset prices in these core cities are not cheap at present.The influx of foreign capital into China’s commercial real estate is more likely to be optimistic about the value-preserving and value-adding ability of urban assets such as Beisheng , Guangzhou and Shenzhen. Behind this is the long-term confidence in China’s economic growth.That’s why most foreign investors in recent years have regarded China as one of Asia’s most important markets in asset allocation.

China’s economic “quarterly report” recently announced that 6.4% of the same-rate growth shows the resilience of China’s high-speed economic growth.(end)

Politburo Re-mentions the Market Game Behind the Blowout of Financing for Housing Enterprises

Our reporter Qisanlian Practice Practice Sheng Boxiaoxi Beijing Report

Guide

Borrowing new debts to repay old debts and the promotion of scale are undoubtedly the main reasons for the improvement of housing enterprises’capital level.

The Political Bureau of the Central Committee of the Communist Party of China held a meeting on April 19 to analyze the current economic situation and deploy the current economic work.There are only 49 words in the full text for the content of real estate: we should stick to the orientation that houses are used for living , not for speculation , and implement the long-term control mechanism of “one city , one city , one city , and the main responsibility of the city government”It is noteworthy that the meeting of the Political Bureau of the Central Committee held on December 13 , 2018 did not mention the content of real estate , but this time again referred to “insisting that houses are used for living , not for speculation”.This means that regulation is likely to tighten again.

In the first quarter , the disguised relaxation of regulation and control in some cities and the emergence of “Xiaoyangchun” made the regulation and control pattern of the real estate market change again.Under the background of high debt of housing enterprises , the financing environment of Housing enterprises continues to be relaxed and the amount of financing continues to blowout.Developers’hematopoietic capacity has been further improvedStatistics from the Central Plains Real Estate Research Center show that since April , Housing enterprises have continued to finance intensively.In total , it has been close to 200 billion yuan since April , and nearly 20 billion yuan have been announced every day in recent days.

A trustee told 21st century economic reporters that the financing environment of Housing enterprises is indeed quite relaxed and the cost is constantly decreasing.However , financing institutions still have high requirements for the qualifications of housing enterprises , such as the top 50.Under the background of liquidity relaxation , the financing of Housing enterprises has once again become a “source of attraction”However , increasing scale will still be the trend of the times.

financing costs continued to decrease

Since April , Housing enterprises continue to intensive financing.In total , it has been close to 200 billion yuan since April , and nearly 20 billion yuan has been announced every day in recent days.

Central Plains real estate statistics show that the overall financing cost of Housing enterprises continues to decrease , which is close to the quarterly data.Financing cost basically farewell to two digits (except for individual enterprises) , mainstream overseas financing costs are 6% – 8% , domestic corporate bonds are less than 5% , overseas financing costs are also significantly reduced.From the perspective of financing channels , the amount of domestic and foreign financing announced by many housing enterprises has increased significantly.

On April 18 , Greenfield Finance issued $200 million of corporate bonds overseas at an interest rate of 6.375%; on April 18 , contemporary real estate issued $1.285 billion of preferred bills for refinancing existing bills; on April 18 , Rongxin China issued $200 million of preferred bills with an interest rate of 8.75%; on April 17 , Beichen completed the first issue of corporate bonds in 2019 , with a scale of 1.2 billion and an interest rate of 48%; On the same day , Binjiang Group intends to issue $200 million of preferr Registered issuance of medium-term bills not exceeding 1.2 billion yuan; construction real estate issuing 300 million dollars , due in 2023 , with a coupon interest of 7.25% priority bills; on the noon of April 15 , China Evergrande Group announced its intention to issue three additional preferred bills totalling $1 billion; on the same day , China Merchants Shekou proposed issuing the second ultra-short-term financing bills in 2019 , amounting to 3.5 billion yuan; Jianye Real Estate Co. , Ltd. announced on April 15 that the public. The company proposes to issue US dollar-denominated preferred bills to overseas people in accordance with S regulation of US Securities Law; Sunshine City completed the issuance of 800 million yuan corporate bonds on April 14 with a coupon interest rate of 7.5%. On the evening of April 12 , Panhai Holding Co. , Ltd. announced that it would guarantee the financing of US$70 million of Panhai Holding International Co. , Ltd. , an offshore subsidiary of the company.

Zhang Dawei , a real estate analyst in Central Plains , believes that since the fourth quarter of 2018 , the financing plan of real estate enterprises has been blowout gradually.Compared with before , the difficulty of financing for housing enterprises has eased.However , due to the excessive ischemia of housing enterprises , at present , the financing difficulty of Housing enterprises is still relatively large.From the perspective of the cost of funds acquired by housing enterprises , compared with the steady decline in the previous period , especially the corporate bonds financed by domestic housing enterprises , there has been a significant reduction compared with the earlier period , such as the re-emergence of corporate bond financing with interest rate less than 4%.In addition , enterprises such as Fuli have completed a large amount of corporate debt.Overall , the real estate enterprises in recent months , the financial situation has eased.It is worth noting that apart from the financing environment , the financing level of Housing enterprises is improving in an all-round way.The data of Huatai Securities show that the funds in place for the development of real estate enterprises improved in March. Among them , domestic loans , personal mortgage loans , deposits and pre-receivables , self-financing funds increased by 10.3% , 14.3% , 18.8% and 11.3% year-on-month , respectively. The cumulative growth rate of the funds in place for development increased by 3.8 percentage points.

Huachuang Securities believes that there was a significant improvement in the tightening of funds in the fourth quarter of last year , showing that the impact of monetary policy easing has continued since the beginning of the year , and the rapid recovery of sources of funds has formed a certain support for investment data.From the structural point of view , the growth rate of domestic loans and self-financing funds in March has changed from negative to positive and has obviously rebounded. The former is due to the continued loosening of bank funds , the latter is due to the improvement of financing channels such as corporate bonds , votes , non-standard loans , etc. The deposit advances and mortgage loans continue to improve substantially , mainly due to the improvement of national sales data in March , and the former is mainly due to the promotion activities for cash payments. Price concessions and a higher down payment ratio continued to pick up sales in first-and second-tier cities , the latter more due to the acceleration of online signatures under the relaxation of price limits in some cities , the effectiveness of the mortgage rate downturn , and the acceleration of bank lending.

The main reason for the improvement of the financial aspect of Housing enterprises is undoubtedly the increasing

borrowing new debts to repay old debts and the promotion of scale.Xiao/p>

58 Anjuke Real Estate Research Institute Chief Analyst Zhang Bo analysis , borrowing the pressure of the old and the new , Housing enterprises have a strong driving force in financing.According to the incomplete statistics of 58 Anjuke Real Estate Research Institute , the repayment scale of Housing enterprises exceeds 400 billion yuan in 2019. Under the pressure of refinancing , Housing enterprises have to continue to issue debt. At the same time , the financing pressure of Housing enterprises is seriously insufficient in 2018 , which will continue until 2019. In addition , driven by the demand for scale , medium-sized Housing enterprises are constantly eager to increase their scale rapidly and cross the threshold of 100 billion yuan. Need to maintain existing scaleIn the first quarter , the land premium rate of some second-tier cities increased and the phenomenon of land grabbing gradually increased , which also reflects the trend of large-scale demand of Housing enterprises from one side.

Zhang Bo believes that from the financing situation of Housing enterprises in April , there has indeed been a significant increase , the amount of financing continues to set new highs , and the financing cost continues to decline , which is undoubtedly a good thing for the housing enterprises with capital pressure.This shows that under the background of liquidity relaxation , housing financing has once again become a “source of attraction”Looking from the global environment , the uncertainties of Sino-US trade frictions are increasing. Domestic policies to boost the economy have been introduced continuously. The relatively loose monetary policy environment in the first quarter has made the downward pull of interest rates in the money market stronger. The “Xiaoyangchun” market has also helped the market regain confidence in real estate.In the huge market , the relatively stable return on investment makes the attraction of Housing enterprises to attract funds increase continuously , and the difficulty coefficient of domestic financing has also been significantly reduced.

In the case of Xiaoyangchun in the market and the fluctuation of regulation and control , the central government once again mentioned that housing is not speculative , which may lead to the “good time” of real estate is short-lived.

“Better financing environment in 2019 than in 2018 will be a relatively clear trend , whether the difficulty of financing or the cost of financing will show a good situation , but it does not represent a comprehensive easing of the real estate industry.In other words , the supervision of the capital side of the real estate enterprises still exists , once the real estate overheating or housing prices fluctuate significantly , it is not excluded that it will be tightened again.In addition , it is worth noting that the current capital flow is also biased towards large-scale brand housing enterprises , which will accelerate the speed of industry centralization to a certain extent.

For the future trend of housing financing , Yang Hongxu , vice-president of Shanghai Yiju Real Estate Research Institute , believes that in view of the frequent occurrence of landlords in some cities at present , the relevant departments of the state may adopt new restrictions on these housing financing in the future , and the regulation will be tightened slightly.Overall , in the future , the financing of Housing enterprises will remain in the current state , and there will be no significant reduction or growth.(Editor: Huang Kai)

Rearrangement of seats in China Airlines Shanda Property Management Industry

Reporter of this newspaper Zhang Xiaoling Practice Practice Sheng Deng Chunrong Shenzhen Report

After the acquisition of CITIC Real Estate and the reorganization of China Aviation Real Estate by Poly , the real estate state-owned enterprises reappeared mergers and acquisitions. The assets of this time are property services.

On April 15 , China Merchants Shekou announced plans to acquire SANDA to expand property management territory.The latter is the property management platform after China Aviation Holdings stripped off the real estate business.

In the Silver Age of Real Estate , scale competition has extended from development business to property services and other operational areas.Since 2018 , a number of Housing enterprises have split up their property and listed on the market. Capital-assisted scale expansion has accelerated.This time , the two state-owned enterprises jointly merged in the management area and revenue scale , will refresh the ranking of existing property management companies.Behind the shuffling of the property management industry is the fact that the concentration of the industry is increasing.How to seize the market and share the bigger cake will test the wisdom of housing enterprises.According to the announcement , Merchants Shekou plans to transfer 22.35% of SANDA’s shares held by CAAC International Holdings through cash agreement , and subscribe to SANDA’s non-public shares with 100% of its investment property.On the same day , SANDA issued a notice of suspension of major assets reorganization.

In December 2016 , CAAC accelerated its de-real estate process and transferred assets and liabilities related to real estate development to two wholly-owned subsidiaries of Poly Development.Since then , SANDA has focused on the main business of property assets management and renamed SANDA as CAAC Real Estate on May 11 , 2018.

Merchants Shekou disclosed that the acquisition will enhance the comprehensive competitiveness of the company’s property management business , but there are still significant uncertainties.

“Merchants Property” is a property management and service company of Merchants Shekou.By the end of 2018 , China Merchants Property had total assets of 1.698 billion yuan and annual operating income of 2.92 billion yuan.In the management of more than 500 properties , service area of more than 75 million square metersBy the end of last year , 523 China Aviation Property Management Projects under SANDA had managed an area of 530.07 million square meters.

If the acquisition is successful , the merger management project of Merchants Property and SANDA will exceed 1000 , and the merged area will exceed 120 million square meters.

This acquisition will become the second largest merger in property management industry after Wanda property acquisition in the same year.In August 2016 , Fancy bought Wanda Property for 2 billion yuan a year , making it the largest acquisition in the property industry.

CITIC Securities pointed out that the two central enterprises will join hands in the integration of strong and strong , and the investment property is expected to rank among the first-line property management companies in China.In addition , the new property management platform is expected to become a leader in the listed property management industry , where A shares are scarce.

While Housing enterprises are keen on property splitting and listing , the move of inviting investment from Shekou is interesting.It is understood that SANDA is one of the two pure property companies in A shares. After the acquisition of SANDA by China Merchants Shekou , it will find a way for SANDA to be listed on the market.

shuffling of property management industry

With the real estate market stepping into the era of stock gradually , accelerating the layout of the real estate industry downstream of the real estate chain has become the development goal of many housing enterprises.According to the statistics of 21st Century Economic Reporters , since 2018 , seven Housing enterprises have split up their property and listed in Hong Kong.

On February 9 , 2018 , Yasheng , a property management company under Yajule , went public. Since then , Biguiyuan , Xincheng Holdings , JiaZhaoye , Xuhui , Aoyuan and Binjiang have separated and listed their properties.Recently , Vanke Property , the largest and best property company in China , has also heard about the Hong Kong IPO , but Vanke denied it.

On April 15 , Poly Development also issued a notice announcing that Poly Property will be listed on the Main Board of the Hong Kong Stock Exchange.

Krei believes that the reason why Housing enterprises are keen on property splitting and listing is , on the one hand , to seek better development of property management business and achieve business scale expansion under the tight financing environment; on the other hand , to upgrade the original business , layout new business , thereby increasing new profit growth points.

In the second half of the real estate competition , the real estate industry will be faced with major shuffling due to the property splitting and listing , and the property merger and acquisition and reorganization of the real estate industry by the state-owned enterprises.

According to the “Top 100 Research Report on Property Services in China 2018” issued by the Central Reference Institute , Vanke Property , Greentown Property and Biguiyuan Property rank in the top three respectively.The annual report of

shows that in 2018 , Vanke Real Estate realized a revenue of 98 billion yuan , an increase of 33.0% over the same period of last year.Greentown’s services increased 30.5% to 6.71 billion yuan over the same period last year.The third highest service revenue was 4.675 billion yuan.

In 2018 , China Airlines Property Revenue was 3.718 billion yuan , and China Merchants Property Revenue Scale was 2.92 billion yuan.If the two companies merge , the revenue will reach 6.638 billion yuan.The scale will surpass the third-largest Park in the list and go straight to Greentown.Behind the

and the listing of property split by housing enterprises , there is the reality that the concentration of property management industry is constantly increasing.

According to Anxin Securities Statistics , in 2014 , the market share of top 100 property enterprises was only 19.50% , and then increased year by year , reaching 32.42% in 2017; the average scale gradually increased , with the average management area reaching 316.383 million square meters.Hengzhe Hengqiang , the leading enterprise , has an average management area of 216 million square meters and a market scale of 11.06% , accounting for more than one third of the top 100 enterprises.

Anxin Securities believes that in the future , leading enterprises in the property management industry will continue to expand on a large scale , maintain a competitive advantage and achieve a new round of growth.

Guohai Securities said that under the background of consumption upgrading and the continuous growth of stock property area , the property management market is in the golden period of rapid growth. It is estimated that the potential market size of the industry will exceed 1.3 trillion yuan by 2030 , and there is more than twice the growth space compared with the current industry scale.

CITIC Securities also believes that with a large number of property management companies landing in the capital market , the property management industry is no longer a dependency of the development industry , and its operational independence is greatly enhanced.Head property management companies can expand their assets lightly (through undertaking small and medium-sized enterprise development projects or taking over the Commission of the industry committee) , develop value-added services of owners and non-owners , increase service income sources , and have a vast development space.

I love my family’s 560 million yuan purchase of Blue Sea 100% equity inventory management market booming

Our reporter Tangshaokui Shanghai report

April 17 , I love my family (000560.SZ) issued a announcement that its subsidiary company will plan to purchase 100% of the shares of Hunan Blue Sea Purchase Enterprise Planning Co. , Ltd. (referred to as “Blue Sea Purchase”) held by Xie Zhao , Hu Yang , Huang Lei , Tian Chunshu , Hunan Ningxing , Nantong Wofu , McJia Chuang and Shanghai Weihunting with the price of 560.SZ.

blue ocean is the main buyer of real estate marketing services , mainly providing Internet (electricity supplier) , new house transactions (agent sales) , stock trading (brokerage) and other services.Yan Yuejin , director of research at the think tank center of Yiju Research Institute , pointed out that this time , I love my family’s active acquisition project , which reflects its diversified development ideas.Blue Sea Purchase mainly serves the community business enterprise , I love my family this acquisition will benefit the follow-up management of community business.In fact , in the past two years , I love more and more real estate projects managed by my family. By introducing such business management resources into enterprises , it helps to form a better management model.In addition , from the perspective of listed companies , such acquisitions can also help to form more profit points.

Plus Code and Data Management Business

From the strategic layout of my family in recent years , it is not difficult to see that the company has been coveting commercial real estate for a long time.In 2015 year , I love my family to launch the brand of long-Rent apartment “apartment” and begin to transform to the field of asset management.At present , my main business is divided into three parts , including second-hand house broker , new house and management.In the company’s 2018 earnings report , the gross profit rate of the three major businesses showed a good growth trend.

By the end of 2017 , I love the “apartment” of the core part of my household management business , which has been distributed in 15 cities throughout the country , with a total of 290 ,000 apartments and 600 ,000 apartments under management.By the end of 2018 , the total number of apartments had reached 303 ,000 units , a net increase of 48 ,000 units compared with the end of 2017; the average rental rate of apartments nationwide was 94.9% , and the average check-out period was 9.7 days.The annual report of 2018 shows that I love my family’s assets management business to achieve revenue 1.654 billion yuan , an increase of 50.78% year-on-year. With the growth of management scale , the assets management business will become the ballast stone of the company’s income to withstand the cycle risk.

p>2017 , I love my family through Kunming Department Store Group Co. , Ltd. (referred to as “Kunbaida”) to complete the curve listing.This is an important signal that I love my family to enter into commercial real estate operation. This purchase of Blue Sea is another measure that I love my family’s plus code asset management business.

Blue Ocean Purchase Located Commercial Real Estate Operating and Dechemical Services Trading Platform was established in 2013As early as May 2016 , Blue Sea Buy announced the completion of tens of millions of yuan A round financing , online financial services “Home Bank” , and began to enter commercial real estate , focusing on marketing and operation , is a community experience business and commercial apartment sales and operation service provider.Previously , media reported that since the second half of 2016 , Blue Sea Purchase has successfully operated 12 projects , mainly concentrated in central China , East China , Wuhan , Nanjing , Changsha , Hefei and other cities , and then focused on Shanghai and the Yangtze River Delta region , Shenzhen and the Pearl River Delta region to expand business.

According to relevant data , the current domestic total commercial inventory is about 1.13 billion square meters , occupying more than 10 trillion yuan of capital , the degree of inventory backlog is much higher than that of residential , and the problem of commercial real estate de-inventory has become very prominent.

Nugget stock commercial assets

stock commercial real estate , is ushering in the “explosion period”

According to the data of the World Bank and RCA 2017 , the size of China’s investable commercial real estate market has reached 100 billion , accounting for about 12% of the global total , second only to the United States , and significantly higher than emerging economies such as India , Brazil , South Korea , Russia and Mexico , with huge market space.From 2016 to 2017 , assets managed by China’s asset management industry increased 22% to $420 million.At the same time , the development of commercial real estate in domestic stock , whether in policy or investment , has ushered in a window period.

In 2018 , ABS circulation of commercial real estate increased greatly , and REITs and CMBS business innovation of housing rental category accelerated.In February 2018 , China’s first long-Rent apartment mortgage asset securitization product “Merchants for Finance-Merchants Shekou Long-rent Apartment Asset Support Project” completed the first product issue; in August , “Shenzhen Century Haixiang Investment Group Co. , Ltd. 2018 First Issue of Asset Support Bill” was issued , becoming the first CMBN project that does not rely on the main credit , with a period of up to 10 years and no repurchase. Arrangements and the introduction of third-party professional credit enhancement agencies and special asset service agencies have strong innovative significance and demonstration effect.

But in terms of rent and rental rate , commercial real estate projects are mixed. Shanghai , Shenzhen , Xi’an , Changsha and other cities have performed well , while Dalian , Zhengzhou , Tianjin , Chongqing and Qingdao , which have developed rapidly in recent years , have not performed satisfactorily.In addition , due to the rapid iteration of business model in recent years , under the impact of new retail and Internet development , the old business model has declined successively. In 2018 , there will be 7 department stores closed , and more department stores will be eliminated or transformed in the future. Although shopping malls are still expanding , their speed has slowed down significantly.

According to the CAIC data of Yiju , in 2018 there were more than 30 commercial projects in domestic stock transformation , mainly concentrated in the core business circles of 20 ,000-50 ,000 cubic metres.

In the market environment of increasing inventory risk of commercial property and declining retail business performance , the light assets operation mode with the advantages of less investment , flexibility and low risk has gradually become the mainstream.For example , Wanda , Dayuecheng , Kaide and other enterprises are accelerating the business layout through the way of management output.The above-mentioned insiders pointed out that I love the blue sea purchase of our family , which emphasizes community business projects. Combining with its operation mode , we can make an article on building a closed-loop of stock assets.

“Xiaoyangchun” seasonal factors play an important role in the real estate market

Real Estate Market Volume and Price ReturnFrom January to March , the sales area of commercial housing was 298.29 million square meters , down 0.9% year-on-year , a decrease of 2.7 percentage points from January to February , and the sales volume of commercial housing was 270.39 billion yuan , an increase of 5.6% , an increase of 2.8 percentage points.In terms of housing prices , in March , the price index of newly built commercial housing in 70 large and medium-sized cities of CREIS (China Real Estate Index System) increased by 0.6% from last month , 11.3% from last year , and the growth rate was faster than that in the previous period. In terms of the second-hand housing price index , the growth rate was 0.5% and 7.9% respectively , and the growth rate was also higher than that in the previous period.

According to the city category , the turnover area of the first-tier cities increased by 122.31% annually , 56.15% year-on-year.Among them , Beijing’s volume surged by 230% over the previous month , nearly four times that of the same period last year.The second line represents an increase of 83.50% and 8.53% respectively , while the third line represents an increase of 49.05% and a decrease of 16.22%.

There are seasonal factors in Xiaoyangchun in March , which are related to the relaxation of credit quota at the beginning of the year , the acceleration of approval and lending , and the increased willingness of buyers to enter the market.In addition , the overall turnover in the first two months of this year is not as good as that in the same period last year , and March also has a certain supplementary effect.In March , the supply side also contributed to the increase in the number of new houses and second-hand housing listings , which created conditions for the release of demand.Many first-tier and second-tier urban residential and apartment projects piled up in the market , and the pushplate of 10 key cities doubled year-on-year in March according to CREIS data.The following second quarter is usually the peak of the push , developers are expected to maintain the momentum of supply , the real estate market warming trend may continue.

Greater reform of household registration will promote the release of some second-tier and third-tier cities.The core of new-type urbanization lies in the urbanization of human beings. Enhancing the reform of household registration is the key task this year.Recently , the Development and Reform Commission issued the Key Tasks for the Construction of New Urbanization in 2019 , which clearly put forward the requirements of abolishing the residence restriction in type II metropolis , relaxing the conditions for residence in metropolises , and greatly increasing the size of residence in mega-metropolises.This means relaxing or breaking the purchase restriction threshold of these cities to a certain extent , and boosting the transaction of the second-tier and some third-tier cities.The regulation and control of first-tier cities is still relatively tight , but the activity of real estate market will also be enhanced under the “four limits” lasting for a long time and the relaxation of marginal environment.At present , Hangzhou , Xi’an and other places have once again relaxed the conditions for the introduction of talents to settle down , which will be another round of “people’s war” since last year.In the long run , the economic effect of the strategy of “urban agglomeration Metropolitan area” will become more and more prominent , and the core area still has the foundation of new housing demand.

Construction speed up land warming up , and the growth rate of development investment expandsFrom January to March , the investment in real estate development nationwide reached 2380.3 billion yuan , an increase of 11.8% over the same period last year , an increase of 0.2 percentage points over that from January to February.In March , the pace of new housing construction and construction of development enterprises was accelerated , and the construction area was accelerating. At the same time , the land market warmed up , and the introduction of high-quality land in some cities increased.From January to March , the land purchasing area of real estate development enterprises was 25.43 million square meters , down 33.1% from the same period last year , and the decline was narrowed by 1 percentage point; the land transaction price was 119.4 billion yuan , down 27.0% , and the decline was increased by 13.9 percentage points.In terms of subdivision , the first-tier cities launched more land than last month , and the second-tier and third-tier cities’land transactions warmed up.In the first quarter , the total land supply and demand of 300 cities declined slightly from the same period of last year. Only the first-tier cities rose. Land area increased by 37% and land area increased by 17% from the same period last year. The transfer fee was basically the same as that of last year. Beijing’s receipt exceeded 58.9 billion yuan.

The improvement of land transaction is also related to the improvement of fund situation and the improvement of land acquisition enthusiasm of development enterprises.From January to March , real estate development enterprises received 3894.8 billion yuan of capital , an increase of 5.9% over the same period last year , an increase of 3.8 percentage points over January to February.Among them , both domestic loans and self-financing funds have been “corrected”. The growth of deposits , advances and personal mortgage loans has accelerated significantly.

At the meeting of the Political Bureau, it was reiterated that the policy of “one city, one city, one city, one city and one city should be implemented according to the situation”.

April 19 , Xinhua News , the Political Bureau of the CPC Central Committee convened a meeting to analyze the current economic situation and deploy the current economic work; listened to the evaluation of the effectiveness of poverty alleviation in 2018 , put forward requirements for fighting the battle against poverty; and considered the Regulations on the Propaganda Work of the CPC.Xi Jinping , General Secretary of the CPC Central Committee , presided over the meeting.

Among them , 44 words are fixed on the real estate market.The meeting demanded that we should adhere to the orientation that houses are used for living , not for speculation , and implement the long-term control mechanism of “one city , one city , one city , and the main responsibility of the city government”

This is also the official reiteration since the two sessions in March this year that “housing does not stir-fry”

On March 5 this year , the 2nd Session of the 13th National People’s Congress opened in Beijing. Premier Li Ke of the State Council forced the government to report on the work of the real estate industry in 2019 , with a total of more than 200 words , including: steadily promoting the real estate tax legislation , promoting the construction of affordable housing and the transformation of urban shantytowns , implementing the main responsibility of the city , and promoting the steady development of the real estate market , etc.

Comparing with last year’s government work report , this time there is no mention of “insisting that houses are used for living , not for speculation”.

March 12 , the fourth “ministerial passage” of the National Two Sessions was held in the Great Hall of the People in 2019.Some journalists asked whether this year’s government report did not emphasize that “houses are used for living , not for speculation” , which means that the supervision of the real estate industry has been adjusted.In response , Wang Menghui , Minister of Housing and Urban-Rural Construction , said that since last year , we have resolutely implemented the decision-making and deployment of the CPC Central Committee and the State Council. With the joint efforts of all parties , the real estate market has maintained a stable operation and market expectations have changed positively.It is mainly reflected in three aspects: first , the growth rate of housing transaction area is slowing down; second , the transaction price of housing is generally stable; third , the housing expectation , that is , the market expectation gradually tends to be rational.

Wang Menghui said that in 2019 , the Party Central Committee and the State Council will resolutely implement their decision-making arrangements and steadily implement the work programme of a long-term mechanism for stable and healthy development of the real estate market.

Specifically , five persistences should be made: Firstly , we should adhere to the orientation of “houses are used for living , not for speculation”; secondly , we should improve the two systems , housing market system and housing security system; thirdly , we should adhere to the implementation of the main responsibility of the city , and constantly improve the market monitoring , early warning and evaluation mechanism , especially to stabilize land prices and housing security system. Fourth , adjusting the structure and changing the way , vigorously cultivating and developing the housing rental market , focusing on solving the housing problems of new citizens; fifth , maintaining the continuity and stability of policies and preventing big ups and downs.At the end of

2016 , the central economic work conference put forward for the first time that “houses are used for housing , not for frying”. At the same time , we emphasized that we should speed up the study of establishing a basic system and a long-term mechanism that conforms to the national conditions and adapt to the market rules by comprehensively using finance , land , finance , taxation , investment and legislation.

Politburo Re-mentions the Market Game Behind the Blowout of Financing for Housing Enterprises

Our reporter Qisanlian Practice Practice Sheng Boxiaoxi Beijing Report

Guide

Borrowing new debts to repay old debts and the promotion of scale are undoubtedly the main reasons for the improvement of housing enterprises’capital level.

The Political Bureau of the Central Committee of the Communist Party of China held a meeting on April 19 to analyze the current economic situation and deploy the current economic work.There are only 49 words in the full text for the content of real estate: we should stick to the orientation that houses are used for living , not for speculation , and implement the long-term control mechanism of “one city , one city , one city , and the main responsibility of the city government”It is noteworthy that the meeting of the Political Bureau of the Central Committee held on December 13 , 2018 did not mention the content of real estate , but this time again referred to “insisting that houses are used for living , not for speculation”.This means that regulation is likely to tighten again.

In the first quarter , the disguised relaxation of regulation and control in some cities and the emergence of “Xiaoyangchun” made the regulation and control pattern of the real estate market change again.Under the background of high debt of housing enterprises , the financing environment of Housing enterprises continues to be relaxed and the amount of financing continues to blowout.Developers’hematopoietic capacity has been further improvedStatistics from the Central Plains Real Estate Research Center show that since April , Housing enterprises have continued to finance intensively.In total , it has been close to 200 billion yuan since April , and nearly 20 billion yuan have been announced every day in recent days.

A trustee told 21st century economic reporters that the financing environment of Housing enterprises is indeed quite relaxed and the cost is constantly decreasing.However , financing institutions still have high requirements for the qualifications of housing enterprises , such as the top 50.Under the background of liquidity relaxation , the financing of Housing enterprises has once again become a “source of attraction”However , increasing scale will still be the trend of the times.

The financing cost has been decreasing continuously

Since April , the housing enterprises have continued to intensive financing.In total , it has been close to 200 billion yuan since April , and nearly 20 billion yuan has been announced every day in recent days.

Central Plains real estate statistics show that the overall financing cost of Housing enterprises continues to decrease , which is close to the quarterly data.Financing cost basically farewell to two digits (except for individual enterprises) , mainstream overseas financing costs are 6% – 8% , domestic corporate bonds are less than 5% , overseas financing costs are also significantly reduced.From the perspective of financing channels , the amount of domestic and foreign financing announced by many housing enterprises has increased significantly.

On April 18 , Greenfield Finance issued $200 million of corporate bonds overseas at an interest rate of 6.375%; on April 18 , contemporary real estate issued $1.285 billion of preferred bills for refinancing existing bills; on April 18 , Rongxin China issued $200 million of preferred bills with an interest rate of 8.75%; on April 17 , Beichen completed the first issue of corporate bonds in 2019 , with a scale of 1.2 billion and an interest rate of 48%; On the same day , Binjiang Group intends to issue $200 million of preferr Registered issuance of medium-term bills not exceeding 1.2 billion yuan; construction real estate issuing 300 million dollars , due in 2023 , with a coupon interest of 7.25% priority bills; on the noon of April 15 , China Evergrande Group announced its intention to issue three additional preferred bills totalling $1 billion; on the same day , China Merchants Shekou proposed issuing the second ultra-short-term financing bills in 2019 , amounting to 3.5 billion yuan; Jianye Real Estate Co. , Ltd. announced on April 15 that the public. The company proposes to issue US dollar-denominated preferred bills to overseas people in accordance with S regulation of US Securities Law; Sunshine City completed the issuance of 800 million yuan corporate bonds on April 14 with a coupon interest rate of 7.5%. On the evening of April 12 , Panhai Holding Co. , Ltd. announced that it would guarantee the financing of US$70 million of Panhai Holding International Co. , Ltd. , an offshore subsidiary of the company.

Zhang Dawei , a real estate analyst in Central Plains , believes that since the fourth quarter of 2018 , the financing plan of real estate enterprises has been blowout gradually.Compared with before , the difficulty of financing for housing enterprises has eased.However , due to the excessive ischemia of housing enterprises , at present , the financing difficulty of Housing enterprises is still relatively large.From the perspective of the cost of funds acquired by housing enterprises , compared with the steady decline in the previous period , especially the corporate bonds financed by domestic housing enterprises , there has been a significant reduction compared with the earlier period , such as the re-emergence of corporate bond financing with interest rate less than 4%.In addition , enterprises such as Fuli have completed a large amount of corporate debt.Overall , the real estate enterprises in recent months , the financial situation has eased.It is worth noting that apart from the financing environment , the financing level of Housing enterprises is improving in an all-round way.The data of Huatai Securities show that the funds in place for the development of real estate enterprises improved in March. Among them , domestic loans , personal mortgage loans , deposits and pre-receivables , self-financing funds increased by 10.3% , 14.3% , 18.8% and 11.3% year-on-month , respectively. The cumulative growth rate of the funds in place for development increased by 3.8 percentage points.

Huachuang Securities believes that there was a significant improvement in the tightening of funds in the fourth quarter of last year , showing that the impact of monetary policy easing has continued since the beginning of the year , and the rapid recovery of sources of funds has formed a certain support for investment data.From the structural point of view , the growth rate of domestic loans and self-financing funds in March has changed from negative to positive and has obviously rebounded. The former is due to the continued loosening of bank funds , the latter is due to the improvement of financing channels such as corporate bonds , votes , non-standard loans , etc. The deposit advances and mortgage loans continue to improve substantially , mainly due to the improvement of national sales data in March , and the former is mainly due to the promotion activities for cash payments. Price concessions and a higher down payment ratio continued to pick up sales in first-and second-tier cities , the latter more due to the acceleration of online signatures under the relaxation of price limits in some cities , the effectiveness of the mortgage rate downturn , and the acceleration of bank lending.

The increasing “attractiveness” of Housing enterprises is undoubtedly the most important reason for the improvement of housing enterprises’capital level.Xiao/p>

58 Anjuke Real Estate Research Institute Chief Analyst Zhang Bo analysis , borrowing the pressure of the old and the new , Housing enterprises have a strong driving force in financing.According to the incomplete statistics of 58 Anjuke Real Estate Research Institute , the repayment scale of Housing enterprises exceeds 400 billion yuan in 2019. Under the pressure of refinancing , Housing enterprises have to continue to issue debt. At the same time , the financing pressure of Housing enterprises is seriously insufficient in 2018 , which will continue until 2019. In addition , driven by the demand for scale , medium-sized Housing enterprises are constantly eager to increase their scale rapidly and cross the threshold of 100 billion yuan. Need to maintain existing scaleIn the first quarter , the land premium rate of some second-tier cities increased and the phenomenon of land grabbing gradually increased , which also reflects the trend of large-scale demand of Housing enterprises from one side.

Zhang Bo believes that from the financing situation of Housing enterprises in April , there has indeed been a significant increase , the amount of financing continues to set new highs , and the financing cost continues to decline , which is undoubtedly a good thing for the housing enterprises with capital pressure.This shows that under the background of liquidity relaxation , housing financing has once again become a “source of attraction”Looking from the global environment , the uncertainties of Sino-US trade frictions are increasing. Domestic policies to boost the economy have been introduced continuously. The relatively loose monetary policy environment in the first quarter has made the downward pull of interest rates in the money market stronger. The “Xiaoyangchun” market has also helped the market regain confidence in real estate.In the huge market , the relatively stable return on investment makes the attraction of Housing enterprises to attract funds increase continuously , and the difficulty coefficient of domestic financing has also been significantly reduced.

In the case of Xiaoyangchun in the market and the fluctuation of regulation and control , the central government once again mentioned that housing is not speculative , which may lead to the “good time” of real estate is short-lived.

“Better financing environment in 2019 than in 2018 will be a relatively clear trend , whether the difficulty of financing or the cost of financing will show a good situation , but it does not represent a comprehensive easing of the real estate industry.In other words , the supervision of the capital side of the real estate enterprises still exists , once the real estate overheating or housing prices fluctuate significantly , it is not excluded that it will be tightened again.In addition , it is worth noting that the current capital flow is also biased towards large-scale brand housing enterprises , which will accelerate the speed of industry centralization to a certain extent.

For the future trend of housing financing , Yang Hongxu , vice-president of Shanghai Yiju Real Estate Research Institute , believes that in view of the frequent occurrence of landlords in some cities at present , the relevant departments of the state may adopt new restrictions on these housing financing in the future , and the regulation will be tightened slightly.Overall , in the future , the financing of Housing enterprises will remain in the current state , and there will be no significant reduction or growth.(Editor: Huang Kai)

Baoding Qingyuan: The highest subsidy for introducing talents to buy a house is 500,000 yuan. Both parents and children can buy a house.

According to the website of Qingyuan District Government of Baoding City , Hebei Province , on April 18 , the people’s government of Qingyuan District of Baoding issued a circular of “Some Preferential Policies (Trial Implementation) on Strengthening the Introduction of High-level Talents in Qingyuan District of Baoding City”. Five types of high-level talents are subsidized to different degrees. All high-level talents can buy houses in Qingyuan District , and the highest-level can receive a one-time subsidy of 5. 0 yuanIn addition , the children of the three classes of qualified personnel identified by the government and parents of both sides can purchase commercial housing for their own use in the area.Preferential policies have been implemented for a trial period of one year since January 1 , 2019.The preferential policies are clear. Five types of high-level talents include

1. Nobel Prize , Fields Prize , Turing Prize and other world-renowned award winners , academicians of Chinese Academy of Sciences , Chinese Academy of Engineering and developed countries , national “Thousand-Person Plan” candidates , specially appointed professors of Yangtze River scholars , outstanding talents of the National “Ten Thousand-Person Plan” , leaders of scientific and technological innovation and entrepreneurship , philosophy. Social science leaders , millions of Engineering leaders , young top-notch talents , national “Innovative Talents Promotion Plan” candidates , national outstanding professional and technical personnel , entrepreneurs with world vision and strategic pioneering ability , etc.

2. Enjoy the special allowance of the State Council Government , the winner of the Chinese Youth Science and Technology Award , the winner of the Chinese Skills Award , the gold medal winner of the World Skills Competition and his coach , and the national technical expert (including the persons other than type A in the service objects of A and B cards stipulated in Provincial and Municipal Provisional Measures for Implementing Yanzhao Talent Service Card System)

3. Selected key talents of other countries , provinces and ministries , talents of scientific and technological innovation and management with deputy senior professional and technical posts , full-time postgraduates with doctoral degree or above

4.Full-time undergraduate and full-time postgraduate master’s degree talents in 985 and 211 Universities

5. Personnel with college or undergraduate degree recognized by the state , all kinds of professional and technical personnel needed for the economic and social development of our region , and those with special skills and expertise and corresponding professional certificates.The document

indicates that the project of safe housing for talented people will be actively promoted.Establish a secure housing security system to support industrial parks to build their own housing for talentsAmong them , the first type of talents can buy a set of self-use commodity housing in our district , and give a one-time purchase subsidy of 500 ,000 yuan; the second type of talents can buy a set of self-use commodity housing in our district , and give a one-time purchase subsidy of 250 ,000 yuan; the third type of talents can buy a set of self-use commodity housing in our district , and give a one-time purchase subsidy of 100 ,000 yuan; the fourth and fifth types of talents can buy in our district. A set of self-use commercial housingFor the children of the first , second and third categories of talents , parents of both sides may purchase a set of self-use commodity housing in our district.Commodity houses purchased by talents , children and parents of both parties shall not be listed and traded within three years.

According to the real estate purchase restriction policy issued by Baoding City in 2017 , it states that the sale of newly built commercial housing and second-hand housing in urban areas to Non-registered households with one or more units in urban areas will be suspended.