About 70% Of The Affordable Housing Failed To Start &Nbsp This Year, And The Shortage Of Funds Became The Biggest Obstacle.

According to the plan, 10 million affordable housing projects must be completed before the end of October this year.

However, judging from the situation of affordable housing construction in some cities this year, the results are not optimistic, and some cities have less than 30% operating rate.

Reporter survey found that at present, affordable housing starts rate is not high, is not only the project process itself rules, but also related to financing difficulties and other factors.

It is expected that the peak period will start in the second half of the year.

In order to ensure that the local government completed the annual affordable housing construction plan on time and on schedule, the Ministry of housing and Construction issued a notice on information disclosure of affordable housing projects in the urban areas last month, requiring local governments to announce the progress of affordable housing projects before June 6th, including the annual affordable housing scheme, start-up projects and completion project information.

According to the latest data, as of the end of May, more than 50% of Shanghai's housing projects were completed, and 25% of the housing projects were completed.

By the end of May, the total operating rate of the 450 thousand sets of affordable housing in Jiangsu was about 30%.

As of the end of April, Chongqing has started 204 thousand units, accounting for 41% of the total annual affordable housing construction, which is a relatively high operating rate city. 185 thousand sets of affordable housing tasks in Zhejiang province have already started construction 61 thousand and 600 sets, and 33.2% of the annual target tasks have been completed.

In addition, Beijing's new construction, acquisition of affordable housing and 200 thousand sets of 73 thousand affordable housing projects in Shenzhen are not optimistic.

One expert estimates that, overall, about 70% of the affordable housing has not been started yet, and the shortage of funds is the biggest obstacle.

Local governments have repeatedly stressed that affordable housing projects are the binding targets that must be fulfilled. Government officials are more likely to interpret them as "indicators of the need to pick up the black hat" after they fail to accomplish their tasks.

Shanghai Yi Ju Real Estate Research Institute Comprehensive Department Yang Hongxu told reporters that the real estate development has a process, the preparatory work is more, so the first five months of the operating rate is not high reasonable, but in the next few months will usher in a large number of affordable housing centralized construction boom, the third quarter is also possible to become the "accountability season" for housing construction.

According to the introduction, developers only "state-owned land use warrants", "construction land planning permit", "construction project planning permit", "construction project construction permit" the four card run down at least four months, to the bank for loan verification also need two months, if the preparatory work is not done well, in order to start construction in the next 5 months, the urgency can be imagined.

Bank

A commercial bank Shanghai Branch real estate finance department official told reporters that this year's branch loan goal is to achieve "zero growth", as the deposit reserve rate continues to rise, the amount of bank loans can be stretched, especially in real estate development loans, although the policy restriction system can not be said to be suspended, but basically it has been issued very little, even the policy support of affordable housing project is also very difficult to loan.

Reporters from a number of real estate development enterprises in Shanghai understand that at present, very few from the bank to obtain loan support.

Shanghai real estate group, Greenland Group and other development enterprises participating in several large affordable housing projects also reflect that the loan approval procedures are more stringent, the examination and approval time is longer, and the loan amount is also reduced.

"Before the" state-owned land use warrants "and" construction land planning permit "two permits can apply for loans, and now must be complete four cards. Before the loan amount is often hundreds of millions, billions of yuan, now 100 million yuan or even 50 million yuan loans also have to fight for.

A company responsible for building a large residential community in Shanghai told reporters that now the project is much less capital, it is "ten pots eight covers", the degree of tension is self-evident.

Other development enterprises reflect that last year's protection housing project loans generally maintained the benchmark interest rate, and even enjoyed 10% to 15% discount for downward floatation; this year, they generally rose 10% to 15%, and even reached 30%.

According to this kind of capital cost, the construction of suitable housing and other projects will be profitable and profitable.

It is understood that in some cities this year, the new capital shortfalls of housing and housing projects may reach tens of billions of yuan, and the dependence on bank loans is about 80%.

Loans in the first half of the year were basically released on time, but new loans were scarce in the first half of this year. If this situation continues, it will be very difficult to start all projects before the end of October.

Financial support for housing construction

According to the Ministry of housing estimates, the target of completing the 10 million set of affordable housing construction needs at least 1 trillion and 300 billion yuan this year.

The central, provincial, city and county governments will bear about 500000000000 Yuan, and the remaining about 800000000000 yuan should be invested through social institutions and the target enterprises and enterprises.

According to the Ministry of finance data, as of May 20th, the Ministry of finance has allocated a total of 61 billion 700 million yuan for the central subsidized housing project in 2011, and has completed the annual budget of 59.9%.

But to complete the 10 million set of affordable housing construction in the whole year, the central government's investment of 103 billion yuan is obviously not enough.

At present, the development loans for affordable housing and commercial housing belong to the real estate development loan, and are included in the scope of the property market regulation. This is the key factor to ensure the housing loans are limited.

The industry suggested that, in line with the policy orientation of "dual track system" for affordable housing and commercial housing, two types of loans should be classified and managed, and the central government's financial policies to support housing construction should be implemented to ensure the loan amount.

Yan Qingmin, assistant chairman of the CBRC, has said that the funds for the construction of affordable housing can not be all on the banks.

Due to the long term capital return and no commercial sustainability, the banks can only give financial support on the basis of adequate financial support. Otherwise, if the credit principal and interest can not be repaid, a new round of platform loan risks will be formed.

In fact, the parties have been exploring and trying to protect the source of housing funds.

In the newly concluded "2011 Lujiazui forum", Wu Dingfu, chairman of the Insurance Regulatory Commission, said that within the scope of policy permission, the CIRC will carry out investment activities such as infrastructure, equity and real estate in Shanghai area in the light of the consideration of building Shanghai into a pilot area for the use of insurance funds.

At present, Ping An insurance has launched a debt investment plan, raising funds of 3 billion yuan to support the construction of affordable housing in Shanghai.

At the end of last year, the Beijing land reserve center and seven insurance Asset Management Co also signed a debt investment plan with a total value of 70 billion to 80 billion yuan.

(China Business Times)