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

On March 26, according to the Guangdong Provincial Housing and Urban-Rural Development Department, recently, Guangdong Province has been vigorously promoting the introduction of housing provident fund policy measures. In the past month, eight cities, including Shenzhen, Huizhou, Zhongshan, Jiangmen, Yangjiang, Zhaoqing, Qingyuan, and Yunfu, have released new policy measures.

Specific measures include: increasing the housing provident fund loan limits, enhancing support for families with multiple children and those purchasing green buildings or prefabricated residential buildings, and relaxing the application conditions for converting commercial personal housing loans to housing provident fund personal housing loans (hereinafter referred to as “commercial to public”). These measures fully leverage the role of the housing provident fund in supporting housing consumption and reducing the burden of home purchases for contributors.

Guangdong’s eight cities optimize provident fund policies

On March 26, according to the Guangdong Provincial Housing and Urban-Rural Development Department, recently, Guangdong Province has been vigorously promoting the introduction of housing provident fund policy measures. Many cities are actively adjusting and increasing housing provident fund loan limits, enhancing support for families with multiple children and those purchasing green buildings or prefabricated residential buildings, relaxing the application conditions for “commercial to public,” and fully leveraging the role of the housing provident fund in supporting housing consumption and reducing the burden of home purchases for contributors. In the past month, eight cities, including Shenzhen, Huizhou, Zhongshan, Jiangmen, Yangjiang, Zhaoqing, Qingyuan, and Yunfu, have released new policy measures.

Among these, regarding the adjustment of management methods and expanding coverage, Shenzhen has revised and released the “Shenzhen Housing Provident Fund Management Measures,” clarifying that individual operators, freelancers, and other flexible employment personnel can contribute to and use the housing provident fund; employees can voluntarily increase their personal contribution ratio based on the ratio set by the unit, up to 12%. Huizhou has relaxed the application conditions for “commercial to public,” reducing the repayment pressure on contributors.

In terms of increasing support and raising loan limits, the maximum limit for the first home housing provident fund personal loan in Huizhou has been adjusted to 900,000 yuan for dual contributors and 500,000 yuan for single contributors; Jiangmen has adjusted the maximum loan limit for buying the first home to 800,000 yuan for dual contributors and 400,000 yuan for single contributors; Yangjiang eligible dual contributors can apply for a maximum loan limit of 750,000 yuan, and single contributors 500,000 yuan; Zhaoqing’s dual contributors can reach a maximum loan limit of 800,000 yuan, and single contributors 500,000 yuan; Qingyuan’s dual contributors’ housing provident fund loan maximum limit can reach 700,000 yuan, and single contributors 500,000 yuan.

Additionally, many cities have overlapping policies to meet various needs. For example, in Huizhou, families with multiple children can have a maximum increase of 20%, reaching up to 1,080,000 yuan; Zhongshan has adjusted the down payment ratio for second-hand houses (frame structure) to a minimum of 20%, and the loan limit for purchasing newly built green residential buildings can increase by up to 20%; Jiangmen’s families with multiple children purchasing their first home can borrow up to 1,400,000 yuan; Yangjiang’s loans for purchasing prefabricated residential buildings can increase by another 20%; Zhaoqing’s families with multiple children can increase the maximum loan limit by up to 150,000 yuan, with a maximum of 950,000 yuan; Qingyuan’s families with multiple children can increase by up to 100,000 yuan, and the loan limit for purchasing newly built green residential buildings can increase by 20%, with a maximum loan of 960,000 yuan; Yunfu’s loans for purchasing newly built residential projects meeting “good housing” standards or green buildings above one star can increase by 20%.

Over 30 regions nationwide optimize provident fund policies

According to incomplete statistics from the China Index Academy, since the beginning of this year, over 30 regions nationwide have adjusted and optimized their housing provident fund loan policies. Among the various policy adjustments that have been implemented, the number of adjustments regarding provident fund loans is the highest, making it an important lever for local policy adjustments to optimize and promote housing consumption.

Recently, many regions have started adjusting provident fund loan policies by broadening the scope of provident fund withdrawals and uses. For example, Shenzhen previously supported the payment of deed tax and other fees, Suzhou supported the payment of property management fees, and Fujian supported payments for renovation 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 usage, reduce residents’ housing consumption costs, and promote the release of housing consumption vitality. The trend of promoting housing consumption through provident fund policy adjustments will be further strengthened in the future.

It is worth noting that this year’s government work report clearly proposed to “deepen the reform of the housing provident fund system.” The China Index Academy predicts that by 2026, provident fund policies will become more refined, such as flexibly adjusting provident fund contribution policies (expanding coverage) and enhancing fund utilization efficiency, which will also be focal points of policy adjustments, further leveraging the role of the provident fund in benefiting people’s livelihoods and stabilizing the market.