Sources say the new property market restrictions on foreign institutions to buy residential

After a lapse of 4 years, China revisited the housing market's foreign policy. Experts: The whole house purchase "low rental rate of return, too long decision time", many foreign investors keen to develop the morning newspaper reporter Zhou According to the new market "limit order", overseas individuals in the territory will only buy a set of their own housing. The morning paper after 4 years, China revisited the property market restrictions on foreign policy.　　There are reports that the Ministry of Housing and Urban and rural construction and the State administration of foreign exchange recently issued "on the further regulation of foreign institutions and individuals to purchase the notice" (hereinafter referred to as the "notice"), foreign individuals can only buy a set of home for their own housing, and foreign institutions can only be in the registered city to buy　　Including the previous restrictions on the purchase and lending policies, coupled with the recent spread of commercial housing pre-sale mechanism reform, real estate tax, the industry analysis, the housing market, the reserve policy emerges. "A large number of hot money into the mainland property market" on foreign people and institutions in the domestic purchase restrictions, as early as 2006 has been relevant provisions. In July, the Ministry of Construction and other six departments have issued a joint "on the standardization of real estate market access and management of foreign views", clearly stipulates that the foreign institutions in the territory set up branches, representative agencies and overseas individuals working and studying for more than one year, can purchase the actual needs of their own, live in the commercial housing, not to buy a private,　　Non-live commercial housing.　　The latest "notice" directly prohibits the purchase of domestic property by foreign institutions. It is reported that "notice" requires the local real estate authorities in the processing of foreign personal housing pre-sale contracts for the record and housing property registration, in addition to the "Pre-sale management measures for urban commercial housing", "Housing registration measures" provisions of the materials and verify the housing situation of house owners, but also added a check qualification link.　　These include: certificates issued by the relevant departments of overseas individuals (excluding Hong Kong, Macao residents and overseas Chinese) who have worked in China for more than one year, proof of work, study and residence in the territory of Hong Kong, Macao residents and overseas Chinese; In the overseas institutions, the document also added a qualification link.　　Including the relevant departments issued in the territory of the establishment of branches, representative offices of the approval documents and registration certificates;　　The report cites people close to the board as saying that the document is mainly aimed at the current influx of hot money into the mainland property market, disrupting the existing order of the purchase of housing, from the source jammed hot money into the mainland's interests appeal. "The development of hot money more need to pay attention to" industry analysis, due to Cross-border capital flows Limited, foreigners in the mainland a large number of home purchase phenomenon is not very common, but some foreign institutions in the short-term purchase of large number of residential buildings as an investment phenomenon is more common. The "notice" on "foreign institutions can not buy residential housing" provisions, is clearly targeted measures will directly to Beijing, Shanghai, Shenzhen and other areas of the impact of housing prices, especially for the Pearl River Delta region, the biggest impact, "some Hong Kong people in the name of registered companies, often a buy is thirty or forty sets, The price of Shenzhen is partlyThe capital is pushed higher. "As regards the distress of hot money to the local property market, Hong Kong also issued a new" restricted "regulation in October, targeting mainland investors. In accordance with the regulations, the Hong Kong government has temporarily excluded property from the investment asset classes of the investment immigration Scheme and raised the investment ceiling from HK $6.5 million to HK $10 million.　　Sheng Chen, deputy Dean of China Index Research Institute, said the property market "outside order" is an extension of the policy of restricting purchases. Xiayu, director of the Research advisory department, said hot money inflows are not limited to the holding, in fact, the practice of buying residential buildings for foreign institutions, the low rate of return on the rental, decision-making time is too long, the purchase of the entire building for its attractiveness is not big.　　On the contrary, many foreign institutions are keen to intervene in the development process, such as loans, the acquisition of shares in the project, and so on, if the hot money really to choose to flow, these ways is more enthusiastic.　　"There are a lot of reserves," in addition to the "Limit order", the property market regulation of the reserve policy there are many, such as commercial housing pre-sale mechanism reform. Earlier, the NPC has proposed that the current "urban real estate Management law" there are some deficiencies, such as the pre-sale system of commercial housing imperfect, regulatory loopholes and so on, resulting in land and housing prices rise too fast, the interests of buyers and other consequences, affecting social stability.　　The Department of Housing has responded to this by "amending the law". Place has also taken action. Not long ago, Beijing issued on the pre-sale of commercial housing supervision measures, real estate development enterprises can not directly store pre-sale funds, purchase money should be directly deposited into a dedicated account. Some experts said that the pre-sale mechanism of commercial housing there is a certain unfairness.　　In some of the two or three-line cities, the buyer's delivery of the pre-payment was diverted to his use, and even the developers to carry out the phenomenon of fleeing. The supervision of the advance payment funds is only one part, the risk of the pre-sale mechanism is still many. A developer who declined to be named said that under the current circumstances, the cancellation of the pre-sale mechanism is not realistic, many developers through the pre-sale payment to pay bank loans, the release of certain mortgages, and even pay the project.　　If the pre-sale mechanism is cancelled, the capital chain of real estate development enterprises will be severely tightened, which will lead to a large number of enterprises facing difficulties. The property tax reform is another boot that has not yet landed. "9 29" regulations clear, real estate tax reform pilot will accelerate, and gradually expand to the whole country.　　After the news, Shanghai, Chongqing, Shenzhen will become the first pilot cities.　　Recently, the Shanghai Municipal Housing Security and Housing Authority staff also revealed that the introduction of real estate tax is inevitable, but the specific time out, how to formulate the plan, they are not clear. In this respect, Li Shijun, director of the Shanghai Institute of Real Estate Development, said that if the real estate market stabilized, the recent introduction of the possibility of a property tax will be reduced.　　To a certain extent, the property tax has become a government unwilling to come out, and cannot but a regulation of the killer. Another unnamed industry insiders said that the follow-up policy will be introduced how much, the key to see changes in the market. In terms of policy tone, the rapid rise in house prices will trigger more reserve policies.