Second-hand housing contract decline: Beijing real estate market hard to say Golden Nine return to residential attributes

category:Finance
 Second-hand housing contract decline: Beijing real estate market hard to say Golden Nine return to residential attributes


Bargaining space appears

China Securities News reporter understands that the price reduction of housing is mainly due to the urgent need of individual homeowners to cash in transactions. Apart from large apartments, there are also signs of price reduction and promotion in school districts.

China Securities Journal reporters learned from many real estate intermediaries that, apart from a few rare projects, there is a certain bargaining space for some second-hand housing sources in Beijing with a total price of about 10 million yuan.

Zhang Dawei, chief analyst of Central Plains Real Estate, said that in recent years, the golden nine silver ten effect of the real estate market has gradually weakened. Because of the absence of loosening control policies and the fact that real estate is not used as a short-term stimulus to stimulate the economy, the expectation of rising house prices has fallen short. Therefore, the real estate market in Beijing continued to decline in September.

Strict Leverage Promotes Price Adjustment

Zhang Dawei said that with the introduction of strict credit restrictions and purchase restrictions in hot cities, it is difficult for purchasing power to support the market. Housing prices in many cities began to rise and fall, and the decline of housing prices began to become a common phenomenon.

Taking Beijing as an example, a series of tax and fee rules for second-hand housing have increased transaction and purchase costs. China Securities Journal reporters learned that, generally speaking, second-hand houses with a total price of about 3 million yuan, if they are not full five unique (the certificate of birth lasts five years and is the only one under the family or personal name), and the original value of the last transaction is low, sellers need to reduce the price by at least 200,000 Yuan before it is easier to conclude the transaction.

According to the relevant regulations of Beijing, except for two rigid standards of building volume ratio above 1.0 (including) and single building area below 140 square meters (including), the standard price red line of Beijing ordinary residential buildings is set as follows: the total price in the Fifth Ring is less than 4.68 million yuan. According to the current housing price level in Beijing, a large number of houses in the Fifth Ring Road are non-ordinary houses.

According to the credit policy since March 2017, the down payment ratio for purchasing non-ordinary second apartment is not less than 80%, and when determining the number of apartments purchased, the principle of subscribing to the house and subscribing to the loan is adopted.

This means that the down payment threshold for most improved demand will be substantially raised. A real estate business person told China Securities News reporter.

China Securities News reporters learned that some second-hand housing prices in Beijing have fallen by 15% compared with the high before the promulgation of the regulatory policy in 2017, and some areas have fallen by more than 20%. If we enter the market before the regulation in 2017, considering the cost of credit, house prices have fallen by more than 20%. A home buyer who entered the market at a high point in 2017 told China Securities News.

Return to Residential Attribute

Whether in terms of policy or supply adjustment, the concept of housing without speculation has been deeply rooted in the hearts of the people. Under this policy background, the behavior of home buyers is becoming more and more rational.

In the past two years, Beijing has supplied a large number of limited competitive and co-ownership houses. Among them, the limited bidding house is not allowed to be transferred within 5 years after obtaining the capital or relevant tax payment certificate. Considering the delivery time of the futures house, the holding time of the house is at least 7 years. In the case of the transaction of joint property houses, approval and consent of the relevant departments are required to repurchase the individual holdings according to the guided prices. These strict supporting measures basically eliminate the possibility of using policy-based housing arbitrage. Most of the people who buy restricted houses are home buyers with their own needs. In addition, the introduction of restricted competitive housing gives buyers many choices, which can be regarded as immediate effect to depress the prices of the surrounding second-hand housing.

From this years policy point of view, Beijings relevant departments have obvious intentions to weaken the attributes of school district housing and suppress the high price of school district housing.

This year, both Dongcheng District and Haidian District of Beijing have made it clear that children of the right age of families who have obtained housing property certificates after January 1 will be enrolled in schools by means of multi-school zoning. Under this policy, the prices of some second-hand houses in Dongcheng District and Haidian District have been significantly reduced. A District of Jinbao Street is a famous primary school counterpart in Dongcheng District. At the beginning of this year, the landlord quoted 7.6 million yuan for a two-bedroom apartment of 70 square meters in this district, with little room for bargaining. After the policy of Dongcheng School District was introduced this year, the housing supply can not guarantee 100% of the students to attend the school. China Securities News reporters found that the recent listing price of this house has been reduced to 7.3 million yuan, real estate intermediaries told China Securities News reporters: According to payment conditions, there is room for discussion on housing prices.

Source: Responsible Editor of China Securities News: Chen Hequn_NB12679