Real estate project capital ratio to reduce market reaction of different parties

Shanghai, June 1 (Xinhua): Real Estate project capital ratio to reduce the reaction of different parties to the State Council announced the capital ratio of fixed assets investment projects adjusted results, of which ordinary commodity housing projects investment in the Minimum capital ratio from 35% to 20%.　　On this news, the reaction of the market parties are different: developers like, the funds can be slightly relieved, the buyers are different, not only hope that this will increase supply, stimulate competition, lower prices, but also worried that the funds are no doubt the developers have more confidence in the price; Banks are also worried about market volatility and increasing credit risk. Developers: The financial dilemma slightly slow supply is expected to increase in the real estate industry, the proportion of project capital refers to the developer owned funds accounted for the proportion of their total development funds. September 2004, the CBRC issued the "Commercial Bank real estate loan risk management guidelines" stipulates that commercial banks to apply for loans to the real estate development enterprises, should require its development project capital ratio of not less than 35%.　　This ratio has been limited to 5 years. Experienced last year's trough, monetary tightening, high land prices, sales downturn, has always been "not bad money" of the real estate industry has encountered financial difficulties.　　Reporters found that from the end of last year to the first quarter of this year, Shanghai has a lot of real estate projects have suspended or even stopped the situation, some weak developers have to "dismantle the west wall to fill the east wall." Statistics released by the National Bureau of Statistics show that January-April, the country completed real estate development investment 729 billion yuan, down 27.2% from the same period last year. The National Real estate Development Enterprise housing construction area 2.01 billion square meters, falls down 13% compared with last year, the housing newly starts the area 278 million square meters, declines 15.6%.　　This year, after a rapid inventory, the problem of future supply is widely concerned, which not only directly related to real estate investment in domestic demand, but also affect the entire real estate market stability.　　Tibao, chairman of Shanghai Hope Source Real estate development company, said, generally speaking, bank credit exceeds 50% of total investment in real estate development, in the current situation, reduce the proportion of capital will solve the developer's urgent, help raise the amount of loans, especially for large developers is more positive. Gu Wensheng, head of a large real estate development company in Shanghai, said the financial difficulties were one of the key factors hindering developers ' daring to invest, particularly in the case of property companies that had been selling poorly in previous years.　　The proportion of the project capital substantially reduced, will directly reduce the financial burden of developers, increase land use, building volume, to maintain the supply of commercial housing, promote the healthy and stable development of the property market has a good role. Home buyers: Developers have increased the price of the emboldened compared to the developers of a piece of applause, home buyers mentality is different. Plans to buy a house in the second half of the Shanghai residents Liangong said that the real estate investment threshold is low, it may attract more developers to increase investment, improve market competition; After more listings, even if there are individual developers "cover the plate" is not afraid.　　He chose to continue to wait and see, "Hope prices will be properly lowered." ButIn the eyes of Shanghai white-collar Jiang Kun, such an idea is wishful thinking. She said that the first quarter of this year "small spring", some developers because there is a problem of funds, not to go on, only to choose to sell.　　And now the proportion of project capital dropped so much, the direct cost of developers significantly lower, escaped a robbery they have more "emboldened" price.　　A new survey by a well-known website shows that 18% of respondents believe that reducing the proportion of project capital will "make the competition between the housing companies more intense, and promote house prices down", 73% of people think this will lead to "housing enterprises to ease capital pressure, house prices rise."　　Banks: There is no doubt that the risks have greatly improved. Since this year, the floodgates of real estate development loans have been loosened, especially the large brand developers have been financed by banks, and a quarterly report by major listed banks has also shown that real estate loan growth has increased. Some bankers are further worried that the lower capital threshold for real estate projects is to pass on developers ' risk to banks, which will take on huge credit risks if markets fluctuate. "To reduce the capital ratio of real estate development projects, the bank risks undoubtedly greatly improved." Just like a personal housing mortgage, the lower down payment ratio, the greater the risk of default. Said a banker who declined to be named.　　A number of banks told reporters that lower capital ratios did not mean that banks would open the floodgates, and that real estate credit was still a high pressure zone for bank risk control. Tang Jianwei, a researcher at the Bank of Communications, argues that the risk of bank loans has actually increased by reducing the proportion of capital invested in real estate development projects, but on the other hand, the reduction of real estate capital ratio is conducive to promoting enterprises to accelerate investment and development, increase market supply, active trade and promote the smooth development of the "Since this year, property transactions have warmed up, developers have eased financial pressure, the bank assumed the systemic risk has been reduced." "Data show that the quality of real estate loans overall show a smooth and controllable situation." At the end of March, Shanghai banking institution's real estate non-performing loan balance was reduced by 210 million yuan last month, the non-performing loan rate was 1.03%, which fell 0.05% compared with last month, and was lower than 1.54% of the total non-performing loan rate of banking institutions. Among them, real estate development loan non-performing loan rate is 1.63%, fall 0.08% than last month.