The amount of provident fund loans in Shenzhen has ushered in a floating space, and the maximum amount has increased from 900,000 yuan to 1.26 million yuan.
On the afternoon of March 24th, the Shenzhen Housing Provident Fund Management Committee issued the Regulations on the Management of Housing Provident Fund Loans in Shenzhen (hereinafter referred to as the "Regulations"), which adjusted the maximum loanable amount of the provident fund.
According to the Regulations, the maximum amount of provident fund loans applied separately is 500,000 yuan, and the maximum amount of provident fund loans jointly applied by the applicant and the co-applicant who calculated the loanable amount is 900,000 yuan, which is the same as the previous regulations.
Different from before, the maximum amount of provident fund loans can be increased by a certain percentage for different combinations of first suites, green buildings and families with two children and above.
Specifically, if you use provident fund loans to purchase the first set of housing, the maximum amount of provident fund loans can rise by 20%; If the first set of housing is purchased with provident fund loans, and the purchased housing is a green building with two-star and above green building evaluation standards, the maximum amount of provident fund loans can rise by 30%; If a family with more than two children (at least one child is underage, the same below) uses the provident fund loan to purchase the first home, the maximum amount of the provident fund loan can be increased by 30%; If a multi-child family with two or more children uses provident fund loans to purchase the first set of housing, and the purchased housing is a green building with two-star or above green building evaluation criteria, the maximum amount of provident fund loans can be increased by 40%.
In other words, the maximum amount of individual housing provident fund for employees who meet the above conditions has been raised from 500,000 yuan to 700,000 yuan, and the maximum amount of family provident fund loans for employees has been raised from 900,000 yuan to 1.26 million yuan.
In addition, the Regulations also show that if the applicant and the co-applicant have not withdrawn the provident fund for more than three consecutive years before applying for the provident fund loan, the loanable amount of the provident fund loan calculated according to the balance multiple of the housing provident fund account can be increased by 10%, but it should meet the other requirements stipulated in Article 17 of the Regulations and the requirements stipulated in the preceding paragraph of this article.
According to "Article 17", the loanable amount of Shenzhen provident fund loan is 14 times the sum of the balance of the applicant’s provident fund account or the balance of the applicant’s and the co-applicant’s provident fund account. At the same time, the monthly repayment amount calculated according to the loan amount (principal and interest calculated by the equal principal and interest repayment method) does not exceed 50% of the applicant’s provident fund deposit base or the sum of the applicant’s and the co-applicant’s provident fund deposit base; The monthly repayment amount cannot be higher than the difference between the total purchase price and the down payment. If the purchased house is a second-hand house, the total purchase price shall be the lower of the contract price and the evaluation price.
At present, the interest rate of provident fund loans in Shenzhen is 3.1%, the interest rate of first-home commercial loans is 4.6%, and the interest rate of second-home commercial loans is 4.9%. The commercial loans are at least 1.5 points higher than the provident fund. If the maximum amount of provident fund loans is increased, the financial pressure on buyers can be reduced to some extent.
Yan Yuejin, research director of Yiju Research Institute, said that the policy of increasing the amount of Shenzhen provident fund fully reflects the boost to the current reasonable housing consumption demand. The policy gives key support to the first suite, which helps to reduce the subscription cost of the first suite, thus boosting the transaction demand of the first suite.
The data shows that in February this year, 2041 sets of new houses were sold in Shenzhen, up 24% from the previous month, but there is still a certain gap with the average monthly transaction volume in the second half of 2022; The transaction volume of second-hand houses was 2,509 sets, up 80% month-on-month, but it is still far from threshold with 5,000 sets per month.
In fact, since last year, in order to promote real estate sales, many cities have issued policies related to provident fund. According to media statistics, in 2022, more than 120 cities issued policies on the adjustment of provident fund. According to incomplete statistics of CBN, this year, Suqian, Hefei, Ganzhou, Yuxi, Nantong, Lijiang, Bozhou, Panzhihua, Lianyungang, Ji ‘an, Meizhou, Luohe, Jilin, Wulanchabu, Huizhou, Qingyuan, Yancheng, Changsha, Yichang, Jining, Shaoxing, Dalian, Fangchenggang, Lu ‘an, Liuzhou, Changchun, Bengbu and Dandong. Judging from the types of policies, in addition to raising the maximum amount of provident fund loans like Shenzhen, the adjustment of provident fund policies also includes the withdrawal of provident fund to repay personal housing loans and the increase of the amount of provident fund for renting houses.
On March 23, Harbin Housing Provident Fund Management Center issued a notice saying that in order to thoroughly implement the national and provincial work requirements of "optimizing the policy of renting houses and increasing the support for renting houses" and further reduce the economic burden of renting workers, a new policy of housing provident fund rental was issued, that is, if employees and their spouses in urban areas (including Hulan, Acheng and Shuangcheng) rent commercial housing, the limit of housing provident fund withdrawal was adjusted from 18,000 yuan/year to 264,000 yuan. County (city) employees and their spouses renting commercial housing, the withdrawal of housing provident fund limit from 12000 yuan/year, adjusted to 19200 yuan/year.
Yan Yuejin told CBN that the amount of provident fund withdrawn by employees renting houses in Harbin has increased, with an average of 2,200 yuan per month. For some young people, it can already cover the monthly rental cost, which is conducive to enhancing the livability of Harbin and its attraction to talents. In addition, since the beginning of this year, all localities have been boosting the economy and increasing housing consumption, which is not only reflected in buying a house, but also in renting a house.