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Hainan’s New Real Estate Regulation Policy

The real estate in Hainan Province has been in the process of continuous adjustment. Under the control of relevant departments, Hainan's real estate prices have been rising in an orderly manner, but they have still not met the central real estate control requirements. Recently, Hainan’s new real estate regulation policies have been introduced. What are the new changes in these new policies? The editor will take you to understand.

Hainan's new real estate regulation policy is released

The reporter learned from the Haikou Municipal Government today that according to the "Announcement on Controlling the Purchase of Multiple Commercial Housing" jointly issued by the three departments of Hainan Province (Qiongjian Fang [2017] No. 96) (hereinafter referred to as "Announcement No. 96") requested that recently, the Haikou Government publicly announced the "Haikou Government's Implementation Rules for Implementation" (hereinafter referred to as the "Details"), which mainly faces Haikou from eight aspects. Real estate regulation proposes implementation details.

Details of Hainan’s new real estate regulation policy

First, the scope of purchase restrictions is further clarified. Property-right hotels and second-hand housing are included in this purchase restriction.

The second is to set up purchase restriction areas in urban areas of Haikou City. The first is the main urban area, west of Binjiang West Road, east of Changtong Road, and north of Nanhai Road and Hongcheng Lake; the second is the southern regional ecological maintenance area, targeting the area south of Yehai Road and the Ring Expressway. To the north, west of Tielong Road, and east of Yuehai Road, according to the integration of multiple regulations, this is the main ecological protection zone in Haikou.

The third is to strictly define the qualifications for purchasing a house. On the one hand, purchase restrictions are implemented for people registered in Hainan Province on a family basis. If there are no commercial houses or hotels with property rights in Hainan, households that are not registered residents in Hainan Province can apply for the first land purchase in areas that are not subject to purchase restrictions. Second, within the purchase restriction area, households not registered in the province are required to provide a residence in cities and counties in our province for more than 2 consecutive years and pay social security before they can purchase their first home.

The fourth is to increase the share of property-right hotel operations. The sales share of a property-right hotel project shall not exceed 10% of the salable area of ??the project, and the remaining 90% must be used for the operation and use of its own company.

The fifth is to further control the period of transfer of existing houses. New commercial housing newly purchased by legal entities such as enterprises, institutions, social organizations, etc. must obtain the real estate rights for five years before they can be transferred.

Sixth, further implement differentiated lending policies. For households with outstanding home purchase loans, the down payment ratio for the purchase of a second home loan has increased to more than 70%.

The seventh is to strengthen the arrangement of transactions and the management of quotations. Strictly implement the quotation control system of "one house, one price", strengthen quotation filing management, strengthen transaction qualifications and transaction approval, and strictly control the market.

Eighth, shantytown renovation projects and housing purchases by talents will be stipulated in separate guidelines.

Goals of Hainan’s new real estate regulation policy

It is reported that the purpose of this "Detailed Rules" is to further implement the policies and guidelines of the state, the provincial party committee, and the provincial government to ensure the healthy development of the real estate industry. Control reasonable housing needs, curb speculative home purchases, and promote the stable and healthy development of Haikou's real estate market.

The editor takes you to understand the latest developments in Hainan’s new real estate regulation policy, which will be helpful to everyone investing in Hainan.