Since the beginning of this year, the number and intensity of real estate control policies have exceeded those in the past. Up to now, more than 55 cities across the country have issued various control policies more than 160 times. Among them, Beijing has issued more than ten policies in just over a month since March 17. So, more than a month has passed, how is the transaction situation in Beijing's property market now? What changes have occurred? Is the property market about to change? Take a look!
In April, Beijing’s online second-hand housing sales decreased by 35% month-on-month.
Since the implementation of this year’s “3.17” property market control policy, Beijing’s new housing market has cooled significantly. According to data released by relevant intermediaries, in April 2017, 2,767 new commercial housing units were signed online in Beijing, a decrease of 48.9% from April 2016. At the same time, second-hand housing transactions experienced a relatively large decline. In April, the total number of second-hand housing transactions was 16,794 units, a month-on-month decrease of 35.12.
Chen Zhi, Secretary-General of the Beijing Real Estate Association: By tightening financial leverage, we can make your own buying impulse, or buying, want to use leverage to make this kind of transitional investment, beyond One's own ability to bear such risks is suppressed.
Judging from the actual number of orders signed by major real estate agency companies, the transaction volume generally declined by around 70%, and nearly 30% of the stores in the communities had zero transactions. As for the largest intermediary chain store in the Beijing market, in the seven weeks after the "3.17" policy was introduced, the transaction volume dropped seven times in a row. In the fourth week of April, the transaction volume was only 11% of the peak level before the regulation.
Huang Yu, Executive Vice President of China Index Research Institute: A certain degree of control is mandatory to calm everyone down and let the market cool down a little. Of course, in the end, we hope to pass this kind of control to a certain extent. Let’s change some expectations and let everyone face the market more rationally.
In addition, monitoring data released by the Beijing Banking Regulatory Bureau showed that from the second to the fourth week of April, the number of personal housing loan approvals in Beijing was 4,456, 3,944, and 3,188 respectively, a continuous decline week-on-week. After the implementation of the "3-17" new policy, the number of mortgage loans completed online was 1.185 billion yuan, of which 976 million yuan was first-time home loans, accounting for 82.4%. The policy implementation effect is obvious.
The price of second-hand houses in some communities in Beijing has dropped
There are large and small intermediary stores in the streets and alleys of Beijing. These stores are regarded as barometers of Beijing's second-hand housing market. With the recent implementation of policies, the transaction volume of second-hand houses in Beijing has dropped significantly, which has caused great changes in the mentality of buyers and sellers in the market.
According to reports, the decline in the number of real estate agent viewings has also caused certain changes in the voice of buyers and sellers: after the introduction of the New Deal, owners have no longer been able to raise prices on their own, and buyers’ bargaining space has been greatly enhanced.
Although there is more room for negotiation, very few people actually take action. Recently, Beijing Lianjia has taken the initiative to carry out store compliance and rectification work, and initiated the closure of some stores. According to preliminary statistics, nearly 87 stores have been closed, mainly including three categories: intermediary stores in commercial and residential communities, and first-floor residential properties converted to commercial rentals. stores and stores that specialize in high-priced second-hand houses.
The stores of other intermediary companies in the Beijing market have also closed some stores near commercial and residential communities. Taking Beijing Pixel, a commercial and residential community in Beijing, as an example, more than 10 intermediary stores surrounding the community have been closed.
Chen Zhi, Secretary General of the Beijing Real Estate Association: (Beijing) has made some regulations on the second-hand market. More from the perspective of regulating the market order, from the perspective of these systems, I think In Beijing, it should be said that this was due to overheating some time ago, and some people are deliberately hyping it up. Such a phenomenon should be suppressed in the future.
Beijing increases land market supply
What is different from previous controls is that while curbing real estate speculation and deleveraging, Beijing is also increasing supply-side reforms and increasing land supply. Increase efforts in market supply.
First, there was a land supply peak in March, and then there was a land transaction peak in April. It can be said that the Beijing land market is also making continuous efforts to regulate the real estate market.
Since entering 2017, the pace of land supply in Beijing has been accelerating, and a considerable amount of land is for affordable housing and policy housing represented by self-housing. According to statistics, in April 2017, there were 11 transactions involving residential land in Beijing, 9 more than in March. This transaction volume was the highest in a single month since December 2015. In the previous 16 months, the number of residential land transactions in Beijing had never exceeded five in a single month.
Liu Weimin, Institute of Market Economics, Development Research Center of the State Council: We still encourage the speed of its land launch, which can create a better market environment for the subsequent basic balance between supply and demand. For example, the most typical hotspot city like Beijing has tight supply and demand (before), so now we have seen that the land supply speed in Beijing has accelerated significantly compared with previous years.
According to statistics from the Beijing Municipal Land and Resources Commission, since this year, the Beijing land market has continued to increase the supply of residential land. As of now, the land market has launched ***23 cases of general commercial housing land. Approximately 166 hectares. Among them, a total of 10 transactions have been completed for the concentrated construction of self-occupied commercial housing, with a scale of 870,000 square meters, and the supply plots have obvious location advantages, and they are basically located in areas with convenient transportation such as along rail transit lines.
Chen Zhi, Secretary General of the Beijing Real Estate Association: This year we have increased the supply of land for self-owned housing and affordable housing. From this perspective, we are focusing more on the supply or supply. The direction of adjustment is to medium and low prices, to ordinary people, and to the rigid demand end of the market. So I think through this series of combinations of multiple factors, our market should have a relatively stable development effect.