[Keywords:] real estate control macro-control of rising house prices
The real estate industry has become a pillar industry of China's national economy. Because of its high industrial correlation, strong driving force and close connection with people's lives, its price fluctuation will directly affect the normal operation of the whole national economy. The rapid rise in real estate prices has led to a large amount of funds gathering in some areas, which has aggravated the gap between the rich and the poor in China. Moreover, the long-term high housing prices are likely to cause price signal distortion, lead to false prosperity of the real estate market, create a real estate bubble, increase the financial risks of banks and endanger financial security. The problem of housing price has become a hot issue of widespread concern in society. At the same time, the relevant departments of the central government of China have continuously introduced policies and regulations to stabilize housing prices and strengthened macro-control of the real estate market. However, in the market economy, stabilizing and regulating housing prices is a very complicated project. Only on the basis of in-depth study of various reasons for the rise of real estate prices and continuous improvement of control measures can we promote the healthy development of the real estate market.
First, the analysis of the reasons for the rise of real estate prices in China
1. The absence of government management is an important reason for the rise in real estate prices.
The absence of government management departments has caused the lack of an open, fair and just market mechanism in the real estate market. Due to the imperfect market access system of development enterprises and intermediaries, a large number of illegal commercial housing sales behaviors such as fictitious sales contracts and hoarding houses have appeared; Publish false price and sales progress information, maliciously drive up house prices and trick consumers into buying; And the start time and completion time of the failure to execute. In the face of these violations, the relevant administrative departments of governments at all levels failed to take effective measures to give administrative intervention in time, resulting in serious information asymmetry in the real estate market and failing to create a transparent and orderly real estate market for consumers. In addition, in pursuit of political achievements, many local governments explicitly or implicitly support the investment of real estate developers, but do not restrict and guide the investment direction, so that in recent years, there has been a structural imbalance between supply and demand in China's real estate market, resulting in a backlog of some high-end real estate commodities, while the demand for ordinary commercial housing is in short supply, forming a trend of rising prices.
2. The increase in cost is the internal cause of the rise in real estate prices.
Under the market mechanism, the determination of house price also depends on the construction cost of the house. In the development of urban commercial housing in China, the construction cost of housing is rising. There are three main factors that lead to the rising cost of housing construction: First, the rising cost of land. At present, the proportion of land in the construction cost of houses is about 25%, and it is higher in some areas. Due to the needs of China's national economic development and urbanization, the demand for land is increasing day by day, which makes the land price rise rapidly. The rise of land price will inevitably lead to the increase of the development cost of the whole house price, and then promote the rapid rise of house price. The second is the price increase of building materials. In recent years, the prices of cement, steel bars, aluminum alloys and other building materials have risen by a large margin, which has become a driving factor for the rise in housing prices. Third, the supporting costs and taxes for urban construction are increasing. This has also increased the cost of housing development and pushed up the housing sales price to a certain extent.
3. Consumer expectation is the fundamental reason for the rise of real estate prices.
Under the condition of market economy, it is not how many houses developers want to sell, nor how many houses residents need to consume, but the general economic expectation of society. Economic expectations have a much greater impact on housing prices than the real relationship between supply and demand. In recent years, China's macro-economy has been improving, with rapid GDP growth and increasing per capita income. People are generally optimistic about future economic expectations. Therefore, the continuous rise of real estate prices also makes buyers have higher expectations for future prices, so they decide to buy as soon as possible. The government has tightened the loan supply for real estate development projects by banks, strictly controlled the scale of agricultural land conversion to construction land, and strictly controlled the land supply for real estate development, which further enhanced consumers' expectations, led to the expansion of real estate commodity demand, and actually led to the rise of real estate prices.
4. A large amount of demand is the direct cause of the rise in real estate prices.
The demand of real estate is mainly divided into consumption demand and investment demand. In terms of consumer demand, in recent years, with China's economic development, the acceleration of urbanization, the acceleration of the transformation of old cities and the arrival of the birth peak in the 1980s, the number of married people has greatly increased in recent years, forming a huge real estate market demand. At the same time, with the increase of income and the implementation of housing mortgage policy, their desire to buy a house is entirely possible to become a reality and become a consumer army in the property market. At the same time, with the further advancement of urbanization, a large number of people are pouring into central cities, and factors such as land acquisition and demolition in urban construction will inevitably create a large number of rigid consumer demand.
In terms of investment demand, in recent years, with the healthy and rapid development of China's economy, the per capita disposable income has increased, and private funds are abundant. A large amount of funds need to find investment channels, but the income of investment tools such as stocks, futures and funds cannot be guaranteed. Coupled with the demonstration effect of long-term low interest rates and rising house prices, investment houses have grown rapidly and maintained a high proportion, and some ordinary citizens have also used their savings to purchase houses to preserve and increase their value. The large-scale influx of foreign capital into China real estate market has also increased the investment demand of real estate.
Two, improve the real estate price control suggestions
1. Improve the supply structure of the real estate market and improve the housing security system.
First of all, vigorously develop affordable housing and low-rent housing. The government must properly control the development and construction of high-grade commercial housing, high-grade apartments and villas through the guidance of scientific planning and relevant policies, ensure the land supply of ordinary commercial housing, affordable housing and low-rent housing, and increase the supply ratio of ordinary commercial housing, affordable housing and low-rent housing. At the same time, we will continue to improve the relevant supply policies of affordable housing and low-rent housing, strengthen the government's housing security function, identify the supply targets of affordable housing, implement various preferential measures, strictly control the number of housing units and construction standards, examine and approve housing sales prices, and strengthen supervision over the purchase and after-sales links, so as to adapt housing prices to the housing affordability of most families, especially to solve the housing problems of low-and middle-income families.
Secondly, accelerate the construction of the second-hand housing market and the development of the housing rental market. At present, the second-hand housing market and housing rental market in China are not very developed. By further simplifying the transaction procedures and promoting the circulation of existing housing, it is conducive to stabilizing housing prices and meeting the housing needs of low-and middle-income families. Reduce the rent of rented houses through competition and reducing the rental cost, and encourage low-and middle-income people to rent houses to solve the housing problem.
2. Pay attention to the regulation of land supply policy on land price and improve the land reserve system.
Through the implementation of the land purchase and reserve system, the land supply and market price are reasonably regulated, the openness and transparency of the land transaction market are improved, the relevant laws and regulations are improved, the necessary supervision mechanism is established, and the interests between the government and the original land users are reasonably distributed. The land acquisition and reserve center should grasp the market information in time and regulate the total land supply according to the economic development goals and market demand. The development of high-grade commercial housing should be moderately limited in the total land supply; The land development of commercial housing and affordable housing for the general public should be appropriately relaxed, and preferential policies for taxes and fees should be given, so that the government, the general public and real estate developers can become real beneficiaries. Therefore, attaching importance to and effectively utilizing the land supply policy, strengthening the regulation of land price and perfecting the land reserve system will be beneficial to the rational and efficient utilization of scarce land resources and the effective operation of the whole real estate market.
3. Improve the reform of real estate tax and fee system and strengthen the control of real estate credit.
For the payment of land use fees, property tax can be levied annually, which not only reduces the burden on real estate developers and consumers, but also promotes the sustained and steady growth of government revenue. The setting of taxes and fees can also be adjusted according to the changes of market conditions. We can learn from foreign tax policies of "wide tax base, few taxes and low tax rate", gradually strengthen real estate tax and property tax, and reduce the turnover tax of real estate, thus promoting the circulation and consumption of real estate. At the same time, we will continue to improve the housing credit policy, vigorously develop the portfolio loan business combining housing provident fund with commercial loans, and give full play to the role of housing provident fund in supporting individual housing loans. Moreover, it is necessary to strengthen the supervision of real estate loans, improve the management system of housing provident fund and the supervision mechanism of personal housing mortgage loans, disperse and reduce the investment risks in the real estate market, and provide all-round and high-quality financial support and services for urban residents to buy houses.
4. Expand private capital investment channels and strengthen the management of foreign investment in China real estate market.
In the wave of rising housing prices, some private capital and some foreign capital participated in the reselling and speculation of housing, which also contributed to the rise of housing prices. Therefore, for private capital, the government should actively take measures to activate private capital's investment in other fields, further relax investment fields and broaden investment channels by adjusting the market access policy of private capital. For foreign capital entering China's real estate market, we should attach great importance to its impact on the real estate market from the perspective of safeguarding national economic security and preventing the loss of national wealth. We should formulate corresponding countermeasures to limit foreign investment in short-term speculation, promote its participation in the long-term development of China's real estate industry, and truly promote the healthy development of China's real estate industry.
5. Strengthen market supervision and information construction, and establish an open, transparent and standardized real estate market trading environment.
Strengthen the transformation of management thinking of the real estate industry, from the original pre-approval of projects to full-service and supervision, intensify market rectification, carry out special rectification of the real estate market, seriously investigate and deal with all kinds of violations in real estate development, trading and intermediary services, and expose and punish illegal enterprises. Establish and improve the real estate credit system, strengthen supervision by public opinion, punish the untrustworthy subjects in the market, promote fair competition in the market, and establish an open, transparent and standardized trading environment in the real estate market. In addition, speed up the construction of real estate market information system, increase the market information service function, pay attention to the analysis of data generated by market information system, scientifically reflect and evaluate various housing prices, change information and market development trends in time, and guide the rational development of the market by providing market information to real estate developers and consumers comprehensively, timely and accurately.
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