What are the three red lines of real estate in 2022?

What are the three red lines of real estate in 2022?

Three "red lines" are clearer indicators of real estate enterprise financing. 1. After deducting the withholding part, its asset-liability ratio shall not exceed 70%. 2. The net debt ratio shall not exceed 100%. 3. The cash debt ratio shall not be less than 1 times.

According to the contact surface of the "three red lines", it can be divided into four situations: red, orange, yellow and green. The red file indicates that three red lines touch interest-free debt. The orange file indicates that the annual growth rate of both industries cannot exceed 5%. The yellow file indicates that the annual debt growth rate cannot exceed 10%. The green file indicates that the three items are not met, and the annual debt growth rate will not exceed 15%.

Why set three red lines for real estate?

1. Prevention of financial risks caused by real estate financing: At present, there are many defaults by real estate enterprises, and the financial attributes of real estate are gradually enhanced, and the regulatory agencies gradually put risks on the agenda. Therefore, the government should effectively control the financial risks in the real estate market from two aspects: financing and debt.

2. Indirect and effective regulation of real estate prices: housing price regulation has always been the focus of government attention. At present, policies such as purchase restriction and purchase restriction have been introduced, which is a kind of regulation in itself. It is the most basic to "reduce leverage" from developers themselves. An important content of the new regulation of real estate financing is to start from oneself, strengthen the turnover ability, control the cost, sales and withdraw funds, and stabilize the house price.

3. Promote the transformation of the real estate industry: The traditional way of buying land and reselling it in Gai Lou is declining. If developers can get more long-term stable funds, they will reduce their dependence on "high leverage" and reduce the risk of real estate financing.