Eight cities in one month! Multiple locations in Guangdong intensively optimize housing provident fund policies

Guangdong’s 8 cities optimize and adjust housing provident fund policies.

On March 26, according to the Guangdong Provincial Department of Housing and Urban-Rural Development, recently, Guangdong has been actively promoting the implementation of housing provident fund policy measures. Over the past month, Shenzhen, Huizhou, Zhongshan, Jiangmen, Yangjiang, Zhaoqing, Qingyuan, and Yunfu have all released new policy measures.

Specific measures include increasing the housing provident fund loan limits, strengthening support for multi-child families, purchasing green or prefabricated buildings, relaxing application conditions for converting commercial personal housing loans to housing provident fund loans (hereinafter referred to as “commercial to public”), and fully leveraging the role of the housing provident fund in supporting housing consumption to reduce homebuyers’ burdens.

Guangdong’s 8 cities optimize provident fund policies

On March 26, according to the Guangdong Provincial Department of Housing and Urban-Rural Development, Guangdong has recently promoted the introduction of housing provident fund policy measures. Many cities have actively adjusted and increased the housing provident fund loan limits, supported multi-child families, green and prefabricated building purchases, relaxed “commercial to public” application conditions, and so on, to better support housing consumption and ease the burden on depositors. Over the past month, Shenzhen, Huizhou, Zhongshan, Jiangmen, Yangjiang, Zhaoqing, Qingyuan, and Yunfu have all announced new policies.

Among these, in terms of adjusting management methods and expanding coverage, Shenzhen revised and issued the “Shenzhen Housing Provident Fund Management Measures,” clarifying that self-employed individuals, freelancers, and other flexible employment personnel can contribute to and use the housing provident fund. Employees can voluntarily increase their personal contribution rate based on their actual situation, up to a maximum of 12%. Huizhou relaxed the conditions for “commercial to public” conversions to reduce repayment pressure on depositors.

In terms of increasing support and loan limits, Huizhou’s maximum first-time home loan amount for housing provident fund loans was adjusted to 900,000 yuan for dual-contribution employees and 500,000 yuan for single employees; Jiangmen’s maximum loan for first-time home purchases was increased to 800,000 yuan for dual-contribution employees and 400,000 yuan for single employees; Yangjiang allows eligible dual-contribution employees to apply for a maximum loan of up to 750,000 yuan, and single employees up to 500,000 yuan; Zhaoqing’s maximum loan for dual-contribution employees can reach 800,000 yuan, and for single employees 500,000 yuan; Qingyuan’s maximum housing provident fund loan for dual-contribution employees is 700,000 yuan, and for single employees 500,000 yuan.

Additionally, multiple policies are stacking to meet various needs. For example, Huizhou allows multi-child families to increase their maximum loan amount by up to 20%, reaching 1.08 million yuan; Zhongshan’s second-hand (frame structure) homes have their down payment ratio adjusted to a minimum of 20%, and the maximum loan for purchasing new green buildings can increase by 20%; Jiangmen’s multi-child families can borrow up to 1.4 million yuan for their first home; Yangjiang allows a 20% increase in maximum loan amounts for prefabricated buildings; Zhaoqing’s multi-child families can add up to 150,000 yuan on top of the maximum loan, reaching 950,000 yuan; Qingyuan’s multi-child families can add up to 100,000 yuan, with the maximum loan for new green buildings increasing by 20%, up to 960,000 yuan; Yunfu’s new “good houses” projects, green buildings of at least one star, or prefabricated buildings, can have their loans increased by 20%.

Over 30 cities nationwide optimize housing provident fund policies

According to incomplete statistics from the China Index Academy, more than 30 cities nationwide have adjusted and optimized their housing provident fund loan policies this year. Among various policy adjustments, the most frequent focus has been on modifying the provident fund loan policies, making it a key tool for promoting housing consumption.

Recently, many cities have expanded the scope of provident fund withdrawal and use. For example, Shenzhen previously supported paying property taxes and fees; Suzhou supported paying property management fees; Fujian supported paying renovation costs and purchasing parking spaces, covering multiple aspects of housing consumption.

The China Index Academy believes that broadening the scope of provident fund withdrawals can effectively improve the efficiency of housing provident fund use, reduce residents’ housing purchase costs, and stimulate housing consumption vitality. The trend of promoting housing consumption through policy adjustments is expected to further strengthen.

It is noteworthy that the government work report this year explicitly proposed “deepening the reform of the housing provident fund system.” The China Index Academy predicts that by 2026, provident fund policies will become more detailed, such as flexibly adjusting contribution policies (expanding coverage) and improving fund utilization efficiency, focusing on further enhancing the role of the provident fund in benefiting people’s livelihoods and stabilizing the market.

Proofreader: Liao Shengchao

(Editors: Zhang Xiaobo)

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