According to the data provided by the Central Plains Real Estate Research Center, from April 2017, the first month after the introduction of the purchase restriction policy, to September 2019, more than 9,000 new business projects were completed in Beijing, a decrease of about 90% compared with the pre-regulation period. In terms of prices, Zhang Dawei, chief analyst of Central Plains Real Estate, said that second-hand commercial housing had fallen by 40% from its peak, while brokers said that some projects had fallen by nearly half.
Compared with before control, the trading volume of commercial and residential projects decreased by 90%
Commercial and residential projects are the types of products used in the transformation of commercial and office nature planning land into residential forms. They can not be settled down, nor can they use residential facilities such as school districts. Commercial modification only changes the form of construction and use function, the nature of land will not change, property rights are more than 40 or 50 years.
After the strict housing purchase restriction policy was implemented in the first and second-tier cities, commercial and residential projects with unlimited purchase and low total price once became the first choice for outsiders and investors. With the expansion of commercial and residential projects in Beijing, house prices rose. Luo Jun told Sino-Singapore Jingwei clients that Zhonghong Pixel is considered the largest commercial and residential project in Beijing. There are more than 9700 apartments in 19 buildings. The workshop has always called this project Shenpan.
Second-hand commercial housing for sale. Photo by Xue Yufei, Zhongxin longitude and latitude
Looking back on the trading situation before the introduction of the restriction policy for commercial projects in March 2017, Luo Jun said: When the real estate market was at its peak, the saying thatbuying houses depends on robberywas not exaggerated for Beijing pixels. Our stores can deal with more than a dozen units in a day. Sometimes the stores are crowded with customers and owners, and there is no place for them to sign contracts. We have to arrange them to sign in other stores. Luo Jun said that when the price was the highest, the unit price of some small apartments reached nearly 70,000 yuan per square meter.
On March 26, 2017, Beijing Municipal Housing and Construction Commission and other departments issued the Announcement on Further Strengthening the Management of Commercial and Office Projects. The announcement stipulates that when the commercial projects sold are re-listed and sold, they can be sold to enterprises, institutions, social organizations or individuals. Individual purchases should conform to the record of no housing and commercial real estate in Beijing, and pay social security or individual taxes for five consecutive years. Commercial banks suspend loans for individual purchases of commercial projects.
Shortly after the announcement, some large-scale real estate trading platforms urgently removed commercial housing projects. Sino-Singapore Longitudinal and Weft Client recently found that several well-known commercial projects in Beijing have not been found on the platform. Luo Jun said that the requirement of listing and trading of commercial projects is the same as that of residential buildings. Owners should sign the agreement of house sale Commission and issue real estate certificates and identity cards, otherwise they can not go online.
Recently, Zhongxin Jingwei client saw in Luo Juns store that there were only a few brokers in the store and no customers. Luo Jun said that the current trading situation is difficult to compare with that before the regulation, Beijing Pixel currently lists more than 200 second-hand housing units for sale, and the monthly turnover is maintained at about a dozen sets, more than 20 sets in more months and less than 10 sets in less months.
Price falls by 40% and owners mentality changes
Lincoln Park Project Outlook. Sino-Singapore Longitudinal and Latitudinal Photography by Xue Yufei
Trading volume has fallen, and the prices of commercial projects in Beijing have fallen along the way. Taking Beijing Pixel as an example, the price of the compound apartment in this district has been reduced from nearly 70,000 yuan per square metre to about 41,000 yuan per square metre. The price of the flat apartment is between 27,000 yuan and 28,000 yuan per square metre, with a reduction of about 40%.
Sino-Singapore Longitudinal and Weft Client in Beijing Pixel North District saw that a 46 square metre duplex apartment, quoted for 40737 yuan/square metre, due to the lack of loans, buyers need to pay 1.88 million yuan at one time, plus some taxes and fees. However, Luo Jun said, the owner is doing business, now sincerely sell, the price can be chatted again, drop tens of thousands of yuan is no problem.
Lincoln Park is a well-known commercial and residential project in Yizhuang District of Beijing. According to data provided by real estate agent Zheng Ming (not his real name), 18 sets of two-bedrooms with an average price of about 385,000 yuan per square meter have been sold in Lincoln Park in the past six months. The listing price of a 67 square metre commercial housing is 2.45 million yuan. However, Zheng Ming disclosed that the psychological price of the owner is 100,000 yuan lower than the listing price.
Lincoln Apartment Districts environment and supporting facilities are good in Yizhuang. Commercial and residential projects sold 60,000 yuan per square metre before the purchase restriction. Now, the price of some poor apartments has been reduced by less than half. Zheng Ming told Zhongxin Jingwei Client.
Bubble gradually squeezed out, experts say, or drop or drop.
In the view of some industry insiders, along with the price reduction, the value of some commercial housing projects with better location and mature matching began to return, which has a certain attraction to the newly-needed families under greater financial pressure and investors pursuing long-term investment value.
Yan Yuejin, research director of the think-tank center of the Yi Ju Research Institute, believes that strict regulation has made the market bubble clear. Some commercial housing projects still have the advantages of lots, matching and other aspects, and also have residential functions. Such projects may have entered the stage of no drop or no fall.
Zhang Dawei said to Sino-Singapore Jingwei Client: It is really stressful for some people whose income and savings are not particularly high to buy houses in mature supporting areas in Beijing. Although there are many problems in commercial housing, such as large mobility of personnel, low safety factor, uncomfortable living conditions, and children can not be enrolled in school, the newly-needed families are not to be considered.
From the perspective of investment, Luo Jun believes that Beijing pixel is close to Beijing Metro Line 6, and the surrounding facilities are basically mature. In addition, the residential area is water, electricity and natural gas, and the occupancy and rental rate of the residential area has always been high. Now the total price of more than 50 square meters of duplex apartments is more than 2 million yuan. If you dont live, you can give some long-term apartments for rental, and get 8 in one month. The rent of 1000 yuan is not a problem. The rate of return on rent is much higher than that of housing. Zhang Dawei pointed out that some commercial housing rent returns can reach 3%~5%, from this point of view, the investor housing has a certain value. However, commercial housing can not be lent, becoming a more difficult investment threshold. The living environment here can not be compared with residential quarters, the biggest advantage is cheaper, Luo Jun said of the trend of commercial housing prices. Whether prices will fall again, it is difficult to say, I can not judge. Source of this article: Peng Mei News Responsible Editor: Wang Honggui_NF7326
From the investment point of view, Luo Jun believes that Beijing Pixel is close to Beijing Metro Line 6, and the surrounding facilities are basically mature. In addition, the residential area is civil water, electricity and natural gas. The occupancy and rental rate of the residential area has been high. Now, the total price of more than 50 square meters of duplex apartments is more than 2 million yuan. If you dont live, you can give them to some long-rented apartments for rent, and get 8 per month. The rent of 1000 yuan is not a problem. The rate of return on rent is much higher than that of housing.
Zhang Dawei pointed out that some commercial housing rent returns can reach 3%~5%, from this point of view, the investor housing has a certain value. However, commercial housing can not be lent, becoming a more difficult investment threshold.
The living environment here can not be compared with residential quarters, the biggest advantage is cheaper, Luo Jun said of the trend of commercial housing prices. Whether prices will fall again, it is difficult to say, I can not judge.