On July 28, the Beijing Housing Provident Fund Management Center issued the “Notice on Issues Concerning the 2022 Housing Provident Fund Annual Housing Provident Fund Payment and Deposit” (hereinafter referred to as the “Notice”). It shows that the upper limit of the housing provident fund payment base for the 2022 housing provident fund is 31,884 yuan. If the deposit ratio is 12%, the maximum monthly deposit is 7,652 yuan, which is 878 yuan higher than the upper limit of last year.
Not only Beijing, but many places across the country have recently adjusted the housing provident fund payment base. Among them, Hangzhou’s housing provident fund payment base has reached the highest ceiling in the country at 36,675 yuan. With the adjustment of the housing provident fund payment base, your salary may be affected.
Another noteworthy signal is that since the beginning of this year, many cities have raised the maximum loan amount of housing provident fund to support rigid and improved housing demand.
Adjustment of housing provident fund payment base in many places
According to the above-mentioned “Notice” of the Beijing Housing Provident Fund Management Center, the housing provident fund in 2022 will continue to implement the policy of 5% to 12% of the deposit ratio. From July 1, 2022, the upper limit of the annual housing provident fund payment base for 2022 housing provident fund is 31,884 yuan. If the deposit ratio is 12%, the maximum monthly payment can be 7,652 yuan, of which units and individuals each pay 3,826 yuan. The minimum monthly payment base is 2320 yuan.
If the deposit ratio selected by the unit is the lowest 5%, then the upper limit of the monthly deposit amount is 3188 yuan, and the unit and individual pay 1594 yuan each.
According to Beijing Daily, the upper limit of the provident fund deposit base in Beijing in 2021 is 28,221 yuan. According to the 12% deposit ratio, the maximum monthly provident fund payment can be 6,774 yuan. In other words, this year’s monthly deposit cap has increased by 878 yuan compared with last year.
Previously, according to the statistics of Times Weekly, as of July 14, more than 40 cities have issued notices on the adjustment of housing provident fund deposits in 2022.
Among them, Hangzhou has raised the base the most, raising the upper limit by 4,598 yuan and the lower limit by 270-410 yuan, both of which are the highest in the country. After the adjustment, the upper limit of the housing provident fund deposit base in Hangzhou reached the highest in the country, at 36,675 yuan.
This means that if the monthly salary in Hangzhou reaches 36,675 yuan and above, calculated according to the maximum 12% deposit ratio, the maximum monthly payment of the unit and individual housing provident fund is 4,401 yuan, and the total can reach 8,802 yuan.
Image source: Times Weekly
From the perspective of the upper limit of the deposit base, Hangzhou and Guangzhou are currently the only two provincial capital cities with an upper limit of more than 30,000 yuan, and Hangzhou has surpassed the first-tier city Guangzhou (36,072 yuan), and also surpassed Wuhan, which is also a new first-tier city ( 29,330.5 yuan), Changsha (28,700 yuan), and Xi’an (27,770 yuan).
Some urban provident fund loans can cover the total housing payment
Since the beginning of this year, about 170 cities have issued policies to stabilize the property market, and many regions have involved multiple policy adjustments. Judging from the adjustment content, there are many adjustments related to provident fund loan amount and down payment ratio. Many third- and fourth-tier cities have directly doubled the provident fund loan amount. If calculated based on the provident fund loan limit, it can already cover all the housing prices in the local just need to buy a house.
Among the cities that have issued the provident fund loan adjustment policy, the average price of new houses in many areas is less than 10,000 yuan per square meter, and the adjusted provident fund loan amount is close to one million yuan.
According to The Paper, Xinyang in Henan, Nanyang in Henan, Shangqiu in Henan, Yongzhou in Hunan, Changchun in Jilin, Lu’an in Anhui, Hengshui in Hebei, Pu’er in Yunnan, Qiandongnan in Guizhou, Jingdezhen in Jiangxi, Gao’an in Jiangxi and other places will purchase just-needed housing in accordance with the new provident fund policy. The home buyers of 2000, who use the provident fund loan according to the maximum amount, can already cover the entire house payment and greatly reduce the pressure of buying a house.
Judging from the content of the provident fund loan policies recently released in various places, the pattern of relaxing provident fund loans is also increasing.
Many regions have made a combination of provident fund policy adjustment, which not only increased the provident fund loan amount, but also lowered the down payment ratio of provident fund loans.
For example, Zhejiang Lanxi recently increased the maximum loan limit of 100,000 yuan for the first set of loans, and the two couples can borrow up to 800,000 yuan in total; the down payment ratio of the provident fund loan for the first set of housing has been reduced to 30%, and the interest rate is 3.25%. In terms of financial support, the benchmark interest rate for personal mortgage loans for first-time home buyers was cut by 20 basis points, and the second home mortgage rate was increased by 60 basis points. The down payment ratio for the first home mortgage loan is reduced to 20%, and the down payment ratio for the second home is reduced to 30%.
Industry insiders generally believe that the effect of the policy to stabilize the property market will gradually be transmitted to the market side, and market confidence will gradually increase. It is expected that the market will improve significantly in the fourth quarter.
Edit|Lu Xiangyong Dubo
proofreading |Cheng Peng
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Source of cover image: Photo by Liu Guomei of Daily Economic News