In the view of industry insiders, this policy clarifies the content of tightening in terms of deposit and use of pre-sale funds, which will help prevent real estate financial risks.
On November 4, the Beijing Municipal Commission of Housing and Urban-Rural Development announced the “Beijing Municipal Commercial Housing Pre-sale Fund Supervision and Administration Measures” (revised in 2021) (hereinafter referred to as the “Measures”) to solicit opinions from the public. The relevant person in charge of the Municipal Housing and Urban-rural Construction Committee stated that the newly revised “Measures” mainly include 31 articles in four parts: general rules, general regulations, fund collection and withdrawal, and supervision and management. In response to the current outstanding problems, the funds are “managed well and not dead”. .
Regarding the above-mentioned “Measures,” Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, believes that the policy has clarified the content of tightening in the deposit and use of pre-sale funds. Management and control is an important measure to prevent real estate financial risks.
On November 4, the Beijing Municipal Commission of Housing and Urban-Rural Development announced the “Measures for the Supervision and Administration of Pre-sale Funds for Commercial Housing in Beijing” (revised in 2021) to solicit opinions from the public. Picture source/IC photo
Supervision and protection before online signingheadPayment etc.,Buyers can check their accounts at any time
In terms of fund supervision, the “Measures” proposes to adjust the current online signing and then crediting to the supervision and protection first and then the online signing. That is to say, the buyer can only deposit the deposit and the down payment that meets the personal housing loan regulations into a special account. Only then can the online sign-off be opened to ensure that the pre-sale funds are directly credited to the account in time and in full. It is worth mentioning that, in order to facilitate social supervision, the “Measures” also stipulate that buyers can use the online sign number and password to check the account information and balance of the account through the government website.
Pan Hao, a senior analyst at the Shell Research Institute, pointed out that this fundamentally circumvents the possibility of embezzlement of funds in the process of transferring pre-sale funds to a third-party account and then to a fund supervision account after the previous implementation of online signing.
At the same time, according to the “Measures”, the pre-sale funds’ key regulatory limits can be comprehensively determined by each district based on corporate credit levels, operating conditions, delivery conditions and other factors, and it is no less than 5,000 yuan per square meter, which is a significant increase of 43% compared to the previous one. In addition, the “Measures” also clarify that real estate development companies should reasonably determine the amount of money used by each node in accordance with their own capital status and financing capabilities; before completing the first registration, the funds in the special account shall not be less than 5% of the key supervision quota. Pan Hao believes that the purpose of this move is to prevent the occurrence of unfinished buildings and other situations, and fully protect the legitimate rights and interests of buyers.
The “Measures” also put forward two general principles. One is to clarify the priority of the use of funds for the advance sale of commercial houses. According to the relevant provisions of the Urban Real Estate Management Law, the funds for advance sale of commercial houses should be used for engineering construction first; The supervision and management of pre-sale funds adheres to the principles of bank supervision, government guidance, multi-party supervision, and guarantee construction, and clarifies that commercial banks carry out the supervision of pre-sale funds in this city and assume the responsibility of the supervisory entity.
In terms of clarifying the subject of supervision, the “Measures” stated that it will integrate bank supervision capabilities, service efficiency, research and development level, operating conditions, credit ratings and other factors, and open tenders to select banks to undertake supervision work.The development enterprise selects the bank that opens the special account within the scope of the winning bank. At the same time, regular assessment of the performance of the successful bidder bank,Eliminate and make up. Yan Yuejin believes that the regulations are clear that banks will also have threshold requirements when they are involved in such businesses. Not all banks can participate in such supervision work, indicating that the restrictions on commercial banks have increased.
Industry:Tightening of pre-sale funding policy and closed management modeCan learn from
In response to the “Measures” announced this time, Yan Yuejin commented that Beijing’s current policy is useful for other cities across the country.“Beijing’s model is indeed worthy of attention, Is the local performance of the current local pre-sale fund tightening policy. “
Yan Yuejin also said that it is necessary to pay attention to a new formulation in the supervision of pre-sale funds, that is, the “closed management model.” “In the past two years, the debt problem of real estate companies has increased, and there have been thunderstorms. Through the implementation of a closed management model, it is possible to ensure that pre-sale funds are connected to difficult-to-operate projects and better ensure the construction of engineering projects.” Yan Yuejin believes that similar The regulations are reflected in Beijing and the previous Chengdu policies, and this has become a policy that should be actively used to prevent unfinished buildings from appearing in various places in the near future.
According to the announcement on the official website of the Municipal Housing and Construction Commission, the reasons for the improvement and adjustment of the “Measures” are mainly due to the impact of the “high leverage and high turnover” development model in recent years. The situation of chain tension and even misappropriation of pre-sale funds has aroused great attention from the society. The “Measures” publicly solicited opinions from the public this time to further strengthen the supervision and management of the city’s commercial housing pre-sale funds, ensure that the pre-sale funds of commercial housing are used for project construction, effectively safeguard the legitimate rights and interests of both parties in the commercial housing transaction, and promote the stable and healthy development of the city’s real estate market .
Pan Hao pointed out that in the current industry risks are gradually exposed andClearing processIn the process, standardizing operations and ensuring that funds are used exclusively are beneficial to preventing risks, promoting stability, and even proactively dealing with problems. For real estate companies, they also need to be prepared in advance for the introduction of new regulations in the future, especially in terms of investment decisions and marketing plans, which need to be adjusted according to their own conditions.
It is reported that Beijing issued the “Interim Measures for the Supervision and Administration of Funds for the Pre-sale of Commercial Housing in Beijing” in 2010, revised as the “Measures for the Supervision and Administration of Funds for the Pre-sale of Commercial Housing in Beijing” in 2013, and issued the “Regarding Strengthening the Pre-sale of Commercial Housing in Beijing” in 2015. Notice on the Management of the Use of Funds; this time the “Measures” mainly amended the 2013 and 2015 editions.
Beijing News reporter Rao Shuwei
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