Regulators Continue Tightening, Hoping to Shift Capital to Lower Tiers

Caijing: 多重“紧箍咒”上身 中国房企资金链或遭重压
In addition, following Beijing policy of 100% self-supported land buys for developers, Tianjin has also introduced a new mechanism for land transfer, that is, after the offer reaches the ceiling, no longer accept the higher offer, the enterprise reported "self-support area."

...In contrast to the trend of returning home prices to last year, this year, due to tightening domestic liquidity, financing more difficult, many housing prices to seek foreign financing.

Zhongyuan Real Estate Research Center released data show that the continuation of the downturn since the fourth quarter of last year, in January 2017, China's housing prices, including private equity, corporate bonds, medium-term notes and other domestic financing amount, totaling 1.3080 billion yuan (RMB, the same ), Compared to the same period last year, down as high as 92%. And enterprises in the territory of the financing costs also appeared to rise significantly. In January this year, many companies issued a debt rate higher than 6%, and last September, this level is roughly around 4%.
Beijing banks are still offering mortgages for second homes, contrary to rumors (perhaps caused by a bank hitting its lending limit), but banks could suspend mortgage creation in the future.
iFeng: 北京二套房停贷?银行:仅是放缓 未来不排除停贷可能
Recently, a "bank will stop two sets of mortgage central bank to enlarge the move," the news yesterday detonated friends circle, the news that some banks in Beijing will stop issuing two suites loans. This morning, the law late reporter interviewed a number of banks learned that the two suites are currently not stop lending, but the slowdown in the release rate. But by the credit limit, do not rule out the possibility of stopping the future two sets of mortgages.

...For the network, "a bank to stop two suites loan" message, the official said, it may be the bank this month, the amount of loans or have been exhausted, "and so the amount of the next month should be restored, To any notice required to stop two sets of housing loans. "
Finally, amid tightening credit conditions, the government is telling the industry to move into third- and fourth-tier cities. After summing up all the restrictions put in place over the past six months, we learn
iFeng: 房地产融资全面收紧 知情人士:引导资金向三四线城市
The next step will continue to tighten it? How long will it last? Will house prices fall?

A person who has repeatedly participated in the national real estate regulation and control to the economic observation newspaper analysis, this round of property market regulation, the main objective is to control prices, not to control land prices, local government regulation and control policies, to suppress the king, but never limit land prices.

"The regulation of the property market depends on the land price, if the local government flow, these financial investigation, propaganda, local government control measures may be out; if the land price does not fall, the premium rate is high, the control measures are long-term." It is believed the latest financial regulation is like an arrow targeting the bond market, hoping to guide the funds away from risky debt, to guide the funds to the third- and fourth-tier cities, and then slowly release the risk, rather than open fire and kill all the birds at once.

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