Source: e-Company Author: Li Xiaoping, Cao Chen, Liu Canbang, Chen Ying

Recently, Beijing's housing purchase restriction policy, which has been implemented for 13 years, ushered in the first adjustment; Shenzhen relaxed purchase restrictions and loosened the purchase restriction policies in 7 districts; Hangzhou and Xi'an also simultaneously issued new property market policies on May 9, announcing the complete cancellation of housing purchase restrictions. The industry expects May to usher in a rare wave of relaxation across the country. The relaxation will involve housing purchase policies, first-home certification standard policies, and second-hand housing sales policies.

What is the impact of policy loosening on local real estate markets? Recently, the Securities Times reporter conducted field visits to local property markets in Beijing, Shenzhen, Hangzhou, Xi'an and other places.

Hangzhou: The trading center was still signing contracts at 10 p.m., and some properties sold over 200 million yuan in three days

At 10 p.m. on May 11, after a day of hustle and bustle, the city of Hangzhou gradually quieted down. However, the Shell (Xihu District) trading service center is still brightly lit, and array customers are still signing contracts.

“Whether the Hangzhou property market is good or not, I have two references for information. One is whether the trading center is busy; the second is that the community's intermediaries don't watch much.” The real estate agent pointed to the Shell (Xihu District) trading service center across the street and told the Securities Times reporter.

The overseas house viewing group is here again

At noon on May 11, at the entrance of a real estate agency on Xueyuan Road, Xihu District, Hangzhou, a pair of elderly people over the age of 60 were chatting with the agent's account manager about the housing situation. Judging from their chat messages, the old man had already seen 2 houses in the morning, but they didn't match, so they will keep looking.

“The Hangzhou property market has been fully liberalized, and there are no more restrictions on purchases for outsiders. Hangzhou's environment and climate are better than in the north, so I want to see if there are any suitable houses and plan to buy a pension.” The old people mentioned above told reporters that they are from Hebei, and the budget for buying a house this time is 2 million to 3 million yuan.

According to the new property market policy issued by Hangzhou on May 9, housing purchase restrictions have been completely lifted, and eligibility for home purchases will no longer be reviewed. At the same time, people not registered in the city who have obtained legal property rights to live in Hangzhou can apply for settlement.

Compared to the personal behavior mentioned above, organized overseas property purchases have also recently appeared in popular properties in Hangzhou. On the morning of May 12, the Xiying Tinglu Project in the Zhijiang section of Xihu District of Hangzhou welcomed a Jinhua* Yiwu house viewing group.

At around 6 p.m., while receiving customers, Yingtinglu Real Estate Consultant said in an interview with the Securities Times: “The impact of the Hangzhou New Property Market Policy on our project sales is still quite obvious. According to rough statistics, in the last three days (May 10-12), up to now, our project has sold about 20 units, with sales estimated at 200-250 million yuan. Among them, there are 4 overseas customers who have visited the project before, but are unable to purchase due to the purchase restriction policy. After the new policy was introduced, they didn't come to the project site, so they first made a deposit and then arrived at the project site to sign the contract the next day.”

The Chen'an Moon Printing Project in the Yunhe Xincheng section of Hangzhou's Gongshu District also welcomed a large number of visitors this weekend. At around 3 p.m. on May 11, the streets surrounding the project were already full of housekeepers' cars. Many of these private car license plates were from places such as Ningbo, Shaoxing, and Jiaxing. A sales hall is hard to find, and another 20 to 30 house viewers stand in front of the sandbox and listen to an introduction from a real estate consultant.

“The project is scheduled to open on May 16. The initial number of units will be 141. Judging from the current registration situation, a change of numbers is inevitable. When registration was accepted on the first day of May 10, there were more than 900 people. By 3 p.m. on May 11, the number of registrants had reached the brink of fluctuation, that is, more than 1,300 people.” Chen'an Yinyue Real Estate Adviser told reporters. On the evening of the same day, the number of registrants for the Chen'an Moon Printing Project for the first two days was announced, surpassing 2,000. This also means that the 10:1 red line was triggered.

However, there is a big difference in the popularity of properties for sale in Hangzhou due to differences in location and cost performance. According to monitoring data from the Hangzhou Shell Research Institute, from January to April of this year, only 3,560 commercial housing units were added in Hangzhou's Shangcheng, Gongshu, West Lake, and Binjiang districts, accounting for 25% of the total supply in Hangzhou's 10 districts, but the new supply was basically in the marginal sector of the region, making it less attractive to customers.

Another new property on sale in Yunhe New Town, Gongshu District. Not many customers visited this Saturday. The real estate consultant told reporters that currently the average sales price is less than 30,000, and when buying a house and getting a parking space, the converted value is about 26,000 yuan/square meter per square meter, and there is no need to freeze capital, inspect, or swing the price, and the house can be handed over next year.

Regarding the impact of the current Hangzhou property market new policy, the real estate consultant mentioned above said, “The new Hangzhou property market policy in October of last year also ushered in a small wave of sales. Our real estate welcomed quite a few customers from Ningbo, Jiaxing, Taizhou and other places at the time. During that time, we removed more than 100 real estate units in a week. However, the effects of the New Deal are gradually diminishing. However, what is different about the Hangzhou New Deal this time is that you can apply to settle in when buying a house. This is still attractive to some outsiders. Therefore, we are still looking forward to the effects of this new deal, and we are ready to welcome it.”

Second-hand housing listings have both increased dramatically

“Judging from the market reaction in recent days, the stimulus brought about by the new property market policy is still quite obvious. For example, the Hangzhou Shell Platform sold more than 120 units on May 10, while the average daily transaction in April was about 70 sets before.” On May 11, a real estate agency in the main city of Hangzhou told reporters.

Behind the sharp increase in second-hand housing transactions, there is a marked increase in the willingness of customers to view houses. On May 11, the reporter visited small, old and concentrated neighborhoods such as Cuiyuan and Huayuan in Xihu District of Hangzhou at will, and encountered many situations where intermediaries brought customers. Moreover, many intermediary stores around these neighborhoods are almost “fully staffed”, and the stores often have only one person left to receive them.

“Over the past few days, everyone has been busy showing customers houses and brokering deals, so the stores are often empty. The phone is often hot when answering phone calls, contacting customers, and replying from the circle of friends. I've been busy today until now, and I haven't even had time to eat dinner.” At around 9 p.m. on the 11th, an agent at a store on Xueyuan Road told reporters this.

According to some intermediaries, the impact of this new policy on the “old and small” of Hangzhou's main urban area, especially school district housing, is quite positive.

“After the purchase restrictions are completely liberalized, it will definitely attract some outsiders with school district needs to come to Hangzhou to buy houses.” According to a real estate agency, the main city of Hangzhou has good resources, but before the new Hangzhou property market policy, many people in prefecture-level cities in Zhejiang were unable to settle in Hangzhou due to various reasons, so they were unable to enjoy Hangzhou's better educational resources. Now, when buying a house, you can apply for settlement on a priority basis, which will inevitably stimulate this part of the demand.

Like new home sales, second-hand housing sales are also clearly differentiated. On May 11, the reporter discovered at some intermediary stores in Yuhang District (not the main urban area) of Hangzhou that very few customers came to consult.

“The current new property market policy in Hangzhou definitely has an impact on the property market in the main urban area. At least until now, there has been no significant change in the second-hand housing sales situation in non-main urban areas.” At an intermediary store on North Soft Road, the agent told the reporter this.

For example, the Shenhua sector in the main city of Hangzhou recently sold more than 10 second-hand housing units, while previously only 5-6 units were sold every week. Therefore, the impact of the New Deal on second-hand housing transactions in main urban areas is still quite obvious. However, the BeiSoft sector belongs to Yuhang District, and there was no obvious impact after the New Deal was announced.

“Currently, the three properties in the Beisoft sector are selling more than 500 second-hand properties. Based on the current average monthly turnover of about 10 units, the pressure to remove is too great. Some of the listed properties have been listed for several years, and they haven't been sold 50-60 times, and customers still think the price is slightly higher.” The real estate agent mentioned above told reporters.

At the same time, the agency mentioned above also showed the reporter recent changes in second-hand housing in Hangzhou. “At present, the number of listings on the Hangzhou Shell platform has reached more than 190,000, and more than 1,700 new listings have been added in the past two days. Prior to the New Deal, the daily increase in the number of second-hand housing listings was 200-300 units. Although second-hand housing transactions increased after the New Deal, the number of new listings was also very obvious. Under normal circumstances, the daily trading volume of second-hand housing units in Hangzhou is 200-300 units. Therefore, the pressure to go to the warehouse is still very high”.

Xi'an: Overall market performance is stable, and real estate sales “Eighteen Martial Arts” compete to attract customers

On May 9, Xi'an issued the “Notice on Further Promoting the Stable and Healthy Development of the Real Estate Market” (hereinafter referred to as the “Notice”), which means that the area within Xi'an's Second Ring Road will no longer implement the purchase restriction policy, and the last restricted area in Xi'an will no longer exist.

In fact, after September of last year, the city of Xi'an lifted purchase restrictions outside of the Second Ring Road. However, within the Second Ring Road, there are not many new commercial housing projects, and most of the properties being sold are old second-hand properties, which has not always been a key area for buyers to pay attention to. Therefore, even if the purchase restrictions were completely lifted in Xi'an, local real estate practitioners generally believed that the impact was not significant, and there was no significant rise or fall in the market.

The number of new real estate customers has increased

“The Xi'an real estate market will not rise even after the purchase restrictions are completely lifted. The Xi'an real estate market is now very stable. Not only are developers doing promotions, but loan policies are also very relaxed. Once the policy is tightened again in the future, it may have a new impact.” Recently, the reporter visited a new project in Xi'an's North Second Ring Road. The real estate consultant said that the real estate has been sold at the registered price, and there have been no adjustments in the past two days; however, according to his disclosure, after the purchase restrictions were lifted within the Second Ring Road, it was indeed felt that the number of customers increased.

The real estate consultant said that in the past, due to policy restrictions, foreign customers would have concerns and rarely looked at projects within the Second Ring Road; however, recently, customers from surrounding provinces such as Shanxi, Gansu, and Henan, and even Shandong and Xinjiang have entered the Second Ring Road region to understand the market situation.

Currently, new homes in Xi'an are mainly concentrated in the Port Area and Hi-Tech Phase III areas outside the Third Ring Road. Housing prices are also generally 20,000 yuan/square meter or more. Since Xi'an has already liberalized purchase restrictions outside the Second Ring Road, this new policy has had little impact on these two regions.

According to the real estate practitioners consulted by the reporter, the Port Area and Hi-Tech Phase III are development zones, which are greatly affected by policy orientation, and prices are inflated. “Especially in the port district, some foreign buyers may choose to buy a home here after considering educational resources, but the industry and living facilities still need to be improved.”

Another area that has received attention around Xi'an City is the Xixian New Area. Previously, due to purchase restrictions in Xi'an City, foreign buyers would consider buying properties in the Xixian New Area without restrictions, which also boosted housing prices in the area. However, according to many real estate practitioners, the region lacks support from new policies, plans, etc., and is sandwiched between Xi'an City and Xianyang City, and the positioning is quite awkward. Especially after Xi'an lifted purchase restrictions, I'm afraid the real estate market in the Xixian New Area will “cool down.”

“The Xixian New Area is the most obvious example of policy orientation. The regional positioning is to become a national new district. In the past, the unit price of some properties soared to 30,000 yuan, but now there are no customers around 10,000 yuan. If buyers are interested in buying a property in Xixian, it can only be said that they start at a lower price, but they can only leave it after buying it.” A real estate practitioner told reporters.

Second-hand housing still has bearish expectations

In addition to new homes, was the second-hand housing market affected after the introduction of the Xi'an New Deal?

To this end, the reporter also visited outside Xi'an's Second Ring Road. According to platform data shown to the reporter by a real estate agent, there are currently more than 170,000 second-hand housing listings in Xi'an, but only 10,000 new homes within five years, and there are even fewer quasi-new homes within two years. The data it provided to the reporter shows that since the high in 2021, the average price of second-hand housing around its stores has dropped by about 2,000 yuan/square meter, and second-hand housing generally doesn't sell at a price. Currently, the average price is only about 12,000 yuan/square meter. Even though the purchase restrictions were removed, there was no significant increase in the number of customers.

However, second-hand housing is also divided. According to the agency, due to the scarcity of new properties, it will be more difficult for new housing prices to drop in the next five years; there is still room for housing prices over 15 years old to fall. In addition, second-hand housing prices in Xi'an are still inflated; the actual transaction price is often much lower than the listing price.

Another real estate agent told the reporter that after the purchase restrictions are completely lifted, some people think that housing prices in Xi'an may still rise, but others think that liberalizing purchase restrictions means that there is insufficient confidence in the real estate market. The lifting of purchase restrictions will have little effect, and housing prices will even go down. The case he provided to the reporter shows that recently a second-hand property owner of a large apartment was seeking sale, and the suggestion he provided was that the total price should be at least 100,000 yuan lower than that of the same apartment type to get a deal in the short term. According to an observation provided by another practitioner, the decline in second-hand housing prices in Xi'an is mainly due to a large number of customers rushing to take action and can only buy new homes after selling them, so they are cutting prices with each other.

In March of this year, the reporter also visited some properties in Xi'an. In contrast, after the purchase restrictions were completely lifted, there was indeed a marked increase in the number of people looking at some new properties. Take an improved real estate in Xi'an's Second Ring Road as an example. The reporter also visited in March. There was only 1 group of customers in half an hour, but when I visited this time, there were about 3 or 4 groups of customers in the same time.

An interesting phenomenon is that real estate sales are also working harder to promote projects. “Check out our property, it's nearby.” Intended buyers have just inspected the project and gone to the sales department, and the three, three, three, two competing real estate sales consultants will immediately gather around. “We don't have a commission, just complete a task with a viewing. You can just take a look. It's fine in five minutes”, “It's all the same. We also have people outside of our property with their projects”, “One day we want to see the house, we can take you everywhere by car, and you can also save some fuel money”. When it comes to competing for customers, sales consultants can be described as being proficient in “eighteen martial arts.”

Beijing: Outside the 5th Ring Road heats up, and the overall market is trading price for volume

After a lapse of 13 years, Beijing's real estate purchase restriction policy was loosened. On April 30, Beijing issued the “Notice on Optimizing and Adjusting the City's Housing Purchase Restriction Policy”. The core content of the policy is to add 1 housing purchase target outside the 5th Ring Road to the current limited purchase policy. It has been more than ten days since Beijing introduced a new policy to optimize housing purchase restrictions, and changes in the Beijing property market have attracted much attention.

Recently, a reporter from the Securities Times · e Company visited and investigated the Beijing area property market and found that the popularity of the second-hand housing and new housing markets outside the 5th Ring Road has clearly heated up, and the rest of the region is generally stable. During the May Day holiday this past, many new housing projects attracted many buyers to inquire and subscribe, and the number of second-hand housing buyers showed a marked increase. A number of industry insiders told e-Company reporters that, driven by the loosening of the purchase restriction policy, some regions of the market are clearly popular. Overall, the Beijing property market is still stable, and “exchanging price for volume” is still the main logic behind the upward trend in second-hand housing transactions.

On the 5th and 12th, coinciding with a Sunday break, I love my store in a neighborhood outside the South Third Ring Road in Beijing, many intermediaries were busy answering consultation calls.

I love my family's intermediary told the reporter that currently, there is a clear recovery in sales volume in their area compared to before, but the overall prices of sold properties are very low, and the prices of some properties have already fallen back to the price level of the Beijing property market in 2016. At the same time, the number of second-hand properties is also showing an excess. It is quite normal for the second-hand housing market in Beijing to have 100,000 units to 110,000 units, but currently the number of housing units on the market has exceeded 170,000. Many buyers also showed a wait-and-see attitude. The recently introduced policy focuses on the market outside the 5th Ring Road, and the impact on the overall market is not obvious.

Recently, the second-hand housing market outside Beijing's Fifth Ring Road is heating up. Rongze Jiayuan is located outside Beijing's North Fifth Ring Road, about 2 km from Beijing's Xierqi subway station. Famous Internet companies such as Baidu, Sina, NetEase, Kuaishou, and Didi are located near Xierqi, so the region is also known as the cosmic center of the Chinese Internet.

The reporter visited the neighborhood a few days ago and found that many intermediaries led potential buyers to visit the property.

“Currently, this neighborhood has a lot of sales and is the most popular neighborhood in Changping District. The neighborhood is new, has an elevator, and is fully equipped. Also, it is close to the West Erflag. The price is also reasonable and very cost-effective.” An intermediary sales person near the neighborhood told the Securities Times · e-Company reporter that after the “430” policy came out, there were more house visits and more transactions, but it wasn't particularly obvious. Looking at housing prices, it was previously a downward trend. “Recently, many properties that were in a hurry have been sold out, and now prices are relatively stable. Newly registered second-hand properties nearby are also quite normal, but the prices are too high.”

Looking at the supply of second-hand housing throughout Beijing, the intermediary mentioned above revealed to reporters that currently there are more than 170,000 second-hand housing units registered on the Chainjia.com platform. “Although overall transactions have been quite active recently, there are still more listings. I sold 6 units last month. The main thing is that the prices are very low. The owners are in a hurry to sell them. Most of the owners are selling their homes to replace them, so the price is low, so you have to take a chance. Currently, the overall market in Beijing is stable. Since April, the rise in second-hand housing turnover is still mainly based on price in exchange for volume”.

On April 30, Beijing issued the “Notice on Optimizing and Adjusting the City's Housing Purchase Restriction Policy”. On the basis of implementing the existing housing purchase restriction policy, the following households or single adults are allowed to purchase 1 new commercial housing unit outside the 5th Ring Road: including households registered in the city that already own 2 units of housing; single adults with household registration in the city who already own 1 housing unit in Beijing; for 5 consecutive years (inclusive), families or single adults who have paid social insurance or personal income tax in the city have owned 1 housing unit in Beijing. This is also a major step for Beijing to optimize its real estate purchase restriction policy after a lapse of 13 years.

At the same time, Beijing also mentioned once again strengthening region-specific policies, one-zone policies, and precise policies to optimize real estate policies.

The Beijing Municipal Housing and Construction Commission issued the “2024 Beijing Housing Development Annual Plan” on May 11, which proposes to carry out special actions to improve municipal infrastructure and public service support around the projects currently being sold in accordance with the “One Area, One Plan”. Each district formulates public service support and municipal infrastructure construction plans surrounding the new land supply project, and is simultaneously constructed and promptly handed over with commercial housing. Establish a comprehensive information disclosure system for the entire housing project process to promote the transformation of housing sales management from approval and supervision to information services. Strengthen local policies, one district, one policy, and precise policies, optimize real estate policies, and more and better meet the multi-level and diverse housing needs of “one old, one small” families, work-residence balance, etc.

“This is a statement of principle; it doesn't mean just relaxation. Overall, Beijing is indeed beginning to try to gradually liberalize. Including fine-tuning purchase restrictions outside the 5th Ring Road, it is the beginning of piloting one zone, one policy. Beijing is big, and the real estate policy should not be one-size-fits-all. Suburbs with high inventory pressure will definitely take the lead in adjusting policies such as purchase restrictions and loan restrictions. Only one district and one policy can improve the overall steady development of real estate.” Zhang Dawei, chief analyst at Central Plains Real Estate, told the Securities Times · e Company reporter.

Chen Wenjing, director of market research at the China Index Research Institute, said that the “Plan” emphasizes “strengthening regional policies, one zone, one policy, and precise measures to optimize real estate policies to more and better meet the multi-level and diverse housing needs of 'one old, one small' families and work-residence balance.” This means that Beijing's future property market policy still has optimization expectations. The direction of optimizing the purchase restriction policy may include various aspects such as liberalizing large-scale purchase restrictions, giving specific groups more places to buy homes, and reducing social security periods. In addition, there is room for reducing the down payment ratio, lowering mortgage interest rates, and reducing transaction taxes.

Shenzhen: The market is moving fast, and the pace of promotion is speeding up

After the introduction of the optimized purchase restriction policy, Shenzhen has now been divided into two zones: a restricted purchase zone and a loosened zone. The effects of the new policy are slowly showing. A reporter from the Securities Times · e Company found during the visit that both developers and real estate agents seem to be looking forward to the New Deal. The pace of promotion has clearly accelerated, yet buyers are still cautious.

Pushing is fast, and buyers are cautious in placing orders

On the first weekend after the introduction of Shenzhen's new policy to optimize purchase restrictions, a new listing was launched in the Longhua area with no purchase restrictions. The reporter saw at the marketing center site that quite a few people came to see the house. Many of them were all members of the family, but they were careful when placing orders.

A house viewer from the Futian area in the restricted purchase area told the reporter that he is interested in changing houses. Since last year, he has also seen many new houses. After the release of purchase restrictions in Shenzhen's 7 districts, he believes that developers in these areas may speed up the promotion process, and there will be more real estate to choose from in the future. “Now it's a buyer's market. New and second-hand homes are being promoted more and more. As long as there is no expectation that housing prices will rise, we will slowly choose. I just hope that the seller's discount will be stronger, and the cost of buying a house will be lower, and they will take action when they find the right house.” Obviously, this prospective home buyer was not greatly affected by the New Deal.

In fact, judging from what the reporter learned about home purchase intentions, it seems that most people are not greatly affected by the optimized purchase restriction policy. People who have no plans to buy a house will still not increase their home purchase plans due to the liberalization of purchase restrictions. “Are we lacking places? What we lack is money; it is confidence. “Most people say that housing prices have been declining, incomes have not improved in real estate, and confidence in the real estate market is not easy to recover. However, for prospective buyers who are interested in buying a house themselves, the introduction of an optimized purchase restriction policy may increase the frequency of wait-and-see, but transactions are still cautious, especially buyers with replacement needs. Compared to liberalizing purchase restrictions, they seem to be looking forward to the “VAT 5 change 3, or even reduction” policy.

Compared to buyers, as sellers, whether developers or real estate agents, seem to have expectations for the New Deal, and the speed of promotion has accelerated markedly.

Buji's new property, which is also located in the open-ended shopping district of Shenzhen, was selected for decades to sell abroad this weekend, launching small apartments that have been scarce on the market for many years. The “total price is only over 1 million” promotion has attracted many buyers to gather in the model room. Although the developers listed various advantages of the product, many industry insiders who visited said that choosing to launch it at this time is mostly related to the “cancellation of purchase restrictions” policy. Take advantage of the popularity and return the funds as soon as possible.

Meanwhile, real estate agency sales staff are once again busy this weekend. “There have been a lot of inquiries these days from people who wanted to buy it but didn't have a place to buy it before. There are also some people who are hesitant. After the optimized purchase restriction policy came out, they also said they wanted to see houses in the past two days. They felt that the recent market was a little hot, but there aren't many. It's just right to take advantage of this opportunity to sell more.” A Chainjia real estate agency staff member told reporters.

This weekend, many people close to the reporter also said that they have received a lot of calls to sell houses. “Just last night, I received two phone calls to sell my house. One asked me if I want to sell my house. While there are policies now and the market is hot, you can consider it. The other one is asking if I want to buy a house. There has been a marked increase in the number of listings these days. There are more choices, so I recommend checking out more”.

There are second-hand housing listings that have gone up

Surveillance data from the Shenzhen Central Plains Research Center shows that in the target monitoring area, listing prices for second-hand properties have rebounded in more than 30% of the areas. Of the 83 districts in Shenzhen, there were 25 areas where the average listing price rebounded in May, accounting for 30.1%; there were 56 areas where the average listing price fell, accounting for 67.5%; and 2 areas where the average listing price remained almost unchanged.

Overall, the areas where average listing prices have risen are mainly distributed in the central and western regions, including Longhua Center, northern Bao'an, Nanshan Science Park Shenzhen Bay luxury residential area, and Futian Center. The highest increase in May was in the Shenzhen North Railway Station area in Longhua District, where purchases are not restricted. Currently, the average listing price in the area is 88,000 yuan/㎡, an increase of 14.0% over the previous month. In addition, the area with the highest increase was the upper-stage area of Futian with limited purchases. The average listing price in May was 86,000 yuan/㎡, up 9.3% from the previous month. In Futian's Chegongmiao area, Bao'an's Shajing area, and Nanshan Science and Technology Park area, second-hand listing prices have all adjusted to varying degrees.

However, at the same time, monitoring data from the Central Plains Research Center also showed that the drop in listing prices in May was clearly much larger than the increase. The Shenzhen Central Plains Research Center believes that the stock of non-core areas in the Shenzhen market is high, and the internal volume is serious. For example, Guangming, Baoan, Longhua, and Longgang, the inventory of new homes has exceeded 8,000 units, and the inventory in Pingshan has also exceeded 6,000 units. The pressure to remove and reduce prices is also high. In the past two years, real estate prices in non-core areas have continued to drop seriously, impacting prices in the surrounding second-hand market, further accelerating the market decline. After purchase restrictions in non-core regions are loosened, effective demand in the regional market will increase, inventory removal will speed up, transactions will also increase, market competition will gradually decrease, financial pressure on housing enterprises will be relieved, and developers' willingness to cut prices will decrease, which will help stabilize market prices.

edit/lambor