CCTV News: The "Special Action Plan to Boost Consumption" proposes to reduce the interest rate of housing provident fund loans in a timely manner and clearly expand the scope of housing provident fund use. Recently, Shenzhen, Zhengzhou and other places have successively optimized and adjusted housing provident fund, expanded the scope of housing provident fund use and reduced restrictions, and also increased the loan amount. Experts pointed out that the extension of housing provident fund use will reduce the cost of renting houses and further boost housing consumption.

The policy of housing provident fund optimization and upgrading in many places

The new policy on housing provident fund in Shenzhen, which will be implemented on March 24, clearly states that the maximum basic amount for individual applications will be increased from 500,000 yuan to 600,000 yuan, and the maximum basic amount for family applications will be increased from 900,000 yuan to 1.1 million yuan. At the same time, the maximum amount of housing provident fund loans has been adjusted. The floating ratio can be added in accordance with various floating situations, with a maximum of 110%, an individual can borrow up to 1.26 million yuan, and a family can borrow up to 2.31 million yuan. This adjustment covers the main housing buyers in the Shenzhen real estate market.

Reduce interest rates and increase the limit, and the threshold for buying a house is lowered again. Henan has also optimized and upgraded the housing provident fund in all aspects in terms of loan thresholds and limits. When purchasing self-occupied housing in Zhengzhou city, the maximum loan amount will be increased from 1 million yuan to 1.2 million yuan, and a family with multiple children can be loaned up to 1.44 million yuan. At the same time, loan restrictions are also relaxed, and large apartments can also apply for loans after adjustment. Guilin, Guangxi recently made it clear that if you want to apply for housing provident fund loans for purchase of affordable housing, the minimum down payment ratio will be adjusted from the original 20% to 15%, further lowering the threshold for buying a house.

The new policy for optimization and adjustment will benefit the real estate market

Experts analyzed that the new policy for optimization and adjustment of housing provident fund in many places will become an important direction for various places to optimize housing provident fund policies in the future.

Wu Jing, Director of the Real Estate Research Center of Tsinghua University: The action plan announced this time clearly states that the interest rate of (housing) provident fund loans will also be lowered accordingly, which sends out a signal that clearly supports housing consumption, and will also help boost market confidence and promote more residents' families, especially (housing) provident fund depositors, to transform potential demand into real housing purchase behavior.

Housing Provident Fund can pay the down payment for home purchase

The current housing provident fund loan interest rates for more than 5 years are 2.85% for the first house and 3.325% for the second house. After the interest rate of commercial personal housing loans has dropped sharply, the timely reduction of housing provident fund loan interest rates will further reduce the cost of home buyers. The "Special Action Plan to Boost Consumption" also clearly states that it is necessary to expand the scope of use of housing provident fund, which can not only be used to repay loans, but also to pay down payments. Since last year, more than 100 cities including Guangzhou, Hangzhou, Qiannan, etc. have supported withdrawing housing provident fund balances to pay down payment for home purchases.