Source: Securities Times
In recent times, real estate policies have ushered in a number of adjustments, involving loan interest rates, down payment ratios, etc., and various regions are intensively following up on the new property market policies. Among these, the market pays the most attention to first-tier cities, and the implementation of property market policies in these cities will profoundly affect market trends.
On May 27, Shanghai issued a notice on policies and measures to optimize the stable and healthy development of the city's real estate market, proposing nine policies and measures, including adjusting and optimizing housing purchase restrictions, supporting reasonable housing needs of families with many children, optimizing housing credit policies, supporting “trade-in”, and optimizing land and housing supply.
Recently, Guangdong made mortgage policy adjustments to 19 cities in the province, including Foshan, Huizhou, Dongguan, and Zhongshan. The down payment ratio for the first home was adjusted to not less than 15%, the down payment ratio for the second home was adjusted to not less than 25%, and the lower interest rate limit was lifted. These 19 cities did not include the two first-tier cities in the province, namely Guangzhou and Shenzhen.
“The new property market policy still has a stimulating effect on the market, but the volume of transactions has not increased much significantly.” At the site of a new housing project in Longgang District, Shenzhen, the head of the marketing department told reporters, “The number of people viewing homes on weekdays is average, and there will be more on weekends. Buyers all hope that the down payment for the first and second home and mortgage interest rate adjustments can be implemented in Shenzhen as soon as possible.”
According to data from Leyoujia stores in Shenzhen, last weekend (May 25 to May 26), there was a slight decline in the number of second-hand goods sold in Shenzhen stores compared to the previous weekend, a decrease of 6.9%. At the same time, second-hand residential sales at Leyoujia stores also declined.
According to the latest data released by the Shenzhen Real Estate Agents Association, the number of second-hand housing units recorded in Shenzhen last week was 1204, down 2% from the previous month. Analysts believe this may be related to Shenzhen's failure to follow up on the reduction in the down payment ratio. It is worth noting that the amount recorded here is calculated based on the time the second-hand housing sales contract was initiated. It is not the final number of units sold. Therefore, compared with online signing data, this data can reflect market trends in a timely manner.
A senior real estate agency manager in Guangzhou's Yuexiu District also told reporters: “Recently sold properties are mainly 'bamboo shoots' in price. The biggest change in the market now is not the volume of transactions, but the increase in people's expectations for the property market, but it will take time for the full effect of the policy to be released. We also expect the policies of Guangzhou and other first-tier cities to be further refined.” Some industry insiders said that there may be room for further policy adjustments in the future in first-tier cities. On the one hand, these cities are still quite cautious about easing purchase restrictions, and there is still some room for relaxation in the future. On the other hand, first-tier cities act as weather vane indicators for the market, so they also need to adjust according to the actual situation in their own markets.
According to data from the Zhuge Data Research Center, judging from the current online registration transaction data for new homes, the overall sales volume of new homes in key cities across the country has maintained an upward trend for 3 consecutive weeks, but the increase is gradually slowing down. As for the new property market policy, on the one hand, the implementation situation varies from place to place. The implementation and fermentation of the policy takes time, and it cannot be reflected quickly or centrally at the end of the transaction; on the other hand, residents' income expectations, etc. still need to be improved, and the restoration of consumer confidence cannot be achieved overnight.
editor/tolk