Mini Program: Daily Real Estate Industry News Summary.
1. In June, second-hand housing transactions in Beijing, Shanghai, and Shenzhen reached new highs.
Among them, the net signed volume of second-hand residential houses in Beijing was 14,987 sets, an increase of 12% month-on-month and 29.1% year-on-year, exceeding the "Little Yangchun" in March this year, and hitting a new high in nearly 15 months. The net sign volume of second-hand housing in Shanghai was 26,374 sets, a month-on-month increase of 41.1%, setting a new high for the year and also a new high in the past 36 months. The net signed volume of second-hand houses in Shenzhen reached 4,172 sets, also a new high this year, and a new high in the past 38 months. (China Securities)
2. In the first half of this year, the top 20 Guangzhou real estate companies' sales revenues exceeded 100 billion yuan.
On June 30, the China Index Research Institute released the 'Top 20 Guangzhou Real Estate Enterprises Sales Performance Rankings from January to June 2024 in the Greater Bay Area'. In the first half of this year, the total sales of these top 20 real estate companies in Guangzhou totaled 112.77 billion yuan, and the threshold for the top 20 was 1.53 billion yuan. Yuexiu Property and Poly Developments and Holdings Group respectively took the top two spots with sales revenue of 25.72 billion yuan and 23.55 billion yuan. Four of the top 10 transactions on the Guangzhou project transaction amount list came from Yuexiu Property. China Overseas Land & Investment Ltd. ranked third with a sales revenue of 9.09 billion yuan.
3. In June, 4,172 second-hand residential houses were recorded in Shenzhen, hitting a three-year high again.
According to data from the United States Property National Research Center, the volume of second-hand residential houses in Shenzhen once again exceeded the 4,000-unit mark in June, setting a new high since April 2021. Specifically, in June, the registration of new first-hand residential houses in Shenzhen was a total of 2,927 units, a month-on-month increase of 45.7% and a year-on-year decrease of 4.0%. A total of 4,172 used residential houses were registered, a month-on-month increase of 5.3% and a year-on-year increase of 73.3%.
4. Foshan adjusts housing loan policy: listed for sale or rent property does not count towards the number of household units.
On July 2, the Foshan Housing and Urban-Rural Development Bureau released the 'Notice on the Recognition of Housing Units in Personal Housing Loans in Foshan City' through its official Weibo account. This notice mainly includes four aspects: service department for inquiries, inquiry rules, inquiry channels, and application scope of inquiry results. According to the notice, commodity houses listed for sale or rent on the Foshan Housing Security and Real Estate Information Network will not be counted as household units. This means that if a household lists its property for sale or rent on this website, these properties will not be included in the statistics of residential units. In addition, the notice clearly states that starting from August 1, 2024, if there are no other properties except those already listed for sale or rent under the name of the household, the household's purchase of commodity housing for the first time will be subject to the policy of first home purchase, and the down payment ratio will be 15%. The release of this notice aims to further standardize the recognition of housing units in personal housing loans and provide residents with clearer and more convenient housing information query services.
5. In the past year, the registration of new private residential properties increased, but the registration of second-hand residential properties decreased in Hong Kong.
The Hong Kong government abolished the comprehensive stamp duty on the property market at the end of February this year. After that, the trading volume of residential properties increased significantly, especially for new projects, driving the registration of first-hand private residential properties to temporarily record 13,696, a year-on-year increase of 16.9% since Hong Kong returned to China's sovereignty 27 years ago. However, the registration of second-hand residential properties did not increase year-on-year and the market experienced the phenomenon of 'first-hand rise, second-hand decline'.
6. In the first half of the year, CNY 43 projects of Xuhui delivered nearly 30,000 new homes and received up to three new financing support appointments.
From January to June 2024, Xuhui delivered nearly 30,000 new homes in 57 projects in 38 cities. As of June 30, Xuhui has 68 real estate projects on the 'White List', and 43 of them have already received financing support, including three new financing support projects added in June, such as Changchun Ideal City West, Chongqing Yinjiangzhou, and Chongqing Yujingyuelai.
7. In Yunnan's Deqing, the maximum loan amount for public housing accumulation fund loans is increased, with three-child households able to borrow up to CNY 1.3 million.
According to the WeChat official account of Diqing Housing Provident Fund on July 1, Yunnan Province's Diqing Tibetan Autonomous Prefecture has introduced multiple housing provident fund policies to benefit the people, which will be implemented from July 1. The document proposes to increase the maximum amount of housing provident fund loans. The maximum amount of loans for employees who deposit unilaterally will be raised from 600,000 yuan to 800,000 yuan, and the maximum amount of loans for employees who deposit bilaterally will be raised from 800,000 yuan to 1 million yuan. Families with a second child will have a 20% increase (the maximum loan amount for employees who deposit on a unilateral basis is 960,000 yuan, and the maximum loan amount for employees who deposit bilaterally is 1.2 million yuan); families with a third child will have a 30% increase (the maximum loan amount for employees who deposit on a unilateral basis is 1.04 million yuan, and the maximum loan amount for employees who deposit bilaterally is 1.3 million yuan).
8. In June, second-hand housing prices in one hundred Chinese cities continued to fall month-on-month, but the overall market is expected to gradually stabilize and hit the bottom in the second half of this year, according to institutions.
On July 1st, the third-party research institution China Index Academy released the 'Hundred Cities Price Index Report', which showed that the current characteristic of homeowners 'exchanging price for volume' to promote transactions is obvious, and the price of second-hand homes in 100 cities continues to decline. At the same time, driven by some cities' high-quality improvement projects entering the market, the price of new homes in 100 cities has risen structurally month-on-month. According to the monitoring data of the China Index Research Institute, the average price of second-hand homes in 100 cities in June 2024 was 14,762 yuan/square meter, a month-on-month decrease of 0.73%, and the decline expanded by 0.03 percentage points compared with May, with a consecutive 26-month month-on-month decrease; the year-on-year decline was 6.25%. The average price of new homes in 100 cities was 16,421 yuan/square meter, a month-on-month increase of 0.15%, and the increase narrowed by 0.10 percentage points compared with May; the year-on-year increase was 1.50%. The China Index Research Institute believes that in the first half of 2024, the national real estate policy will continue to maintain a loose tone. In the second half of the year, with the gradual manifestation of the effects of core city policies, the national market is expected to gradually bottom out and stabilize.
9. Liupanshui: Increase the amount of housing provident fund loans, and the loan quota for buying green buildings can be raised by up to 20%.
On July 1st, the Housing Provident Fund Management Committee of Liupanshui City, Guizhou Province, issued the 'Notice on the Trial Implementation of Some Housing Provident Fund Management Service Regulations to Promote the Stable and Healthy Development of the Real Estate Industry', which optimizes and adjusts the policy of using housing provident fund, and will be implemented from July 1, 2024. The 'Notice' encourages employees who deposit funds to buy green buildings and prefabricated buildings. Employees who purchase newly built green buildings or newly built prefabricated buildings will have their loan quota raised by 10% -20%. This policy aims to promote the stable and healthy development of the real estate industry and support families of employees who deposit funds to use the housing provident fund among different generations. Unmarried children and parents can help each other to withdraw the housing provident fund and jointly apply for housing provident fund loans when they purchase shared housing in Liupanshui City. The loan quota can be raised by up to 20%. In addition, unmarried children and parents can also help each other to withdraw the housing provident fund to pay off the first housing provident fund loan in the city in advance. The implementation of this policy will help to meet the housing needs of employees' families and promote the stable development of the real estate market.
10. Hainan adjusts the range of housing provident fund deposit base from July 1st.
On July 2, the Hainan Provincial Housing Provident Fund Management Bureau announced that the range of housing provident fund deposit base will be adjusted from July 1st, 2024. The new regulations stipulate that the housing provident fund deposit base of employees shall not be lower than the minimum wage standard of the previous year in the city and county where they are located, and shall not exceed three times the average monthly wage of employees. This adjustment is applicable to non-private units in urban areas, and private units in urban areas will follow suit. The application time of this deposit base range is from July 1, 2024, to June 30, 2025. According to the requirements, each deposit unit should complete the payment of housing provident fund for June by the end of June, and adjust the payment according to the new base range from July 1. The annual verification and adjustment measures are aimed at ensuring the fairness and sustainability of the housing provident fund system.
11. Analyst: The continued housing shortage in the United Kingdom may prolong economic recession.
ASK Partners CEO Daniel Austin said that due to the insufficient supply of houses for rent and sale, the UK is facing a housing affordability crisis, which has a negative impact on GDP. Austin said that given the correlation between housing and economic stability, it will be a key issue in the upcoming election, and recent price increases and mortgage approvals indicate a recovery. However, he said that continued shortage may lead to long-term economic recession.