Mini Program: Daily Real Estate Industry News Summary.
According to the National Bureau of Statistics, from June, the overall decline in sales prices of commercial residential buildings in various cities narrowed on a month-on-month basis, and fell year-on-year.
In June, the sales prices of newly-built commodity residences in first-tier cities decreased by 0.5% compared to the previous month, with a decrease of 0.2 percentage points narrower than the previous month. Among them, Beijing, Guangzhou and Shenzhen decreased by 0.6%, 1.2% and 0.7%, respectively, while Shanghai increased by 0.4%. The sales prices of newly-built commodity residences in second-tier cities decreased by 0.7% month on month, which is the same as last month. The sales prices of newly-built commodity residences in third-tier cities decreased by 0.6% month on month, with a decrease of 0.2 percentage points narrower than the previous month.
According to the National Bureau of Statistics, from January to June, the sales area of newly built commercial housing was 479.16 million square meters, a year-on-year decrease of 19.0%.
Statistics bureau data shows that from January to June, the sales area of newly built commercial housing was 479.16 million square meters, a year-on-year decrease of 19.0%, of which the sales area of residential buildings decreased by 21.9%. The sales revenue of newly built commercial housing was 4713.3 billion yuan, a decrease of 25.0%, of which the sales revenue of residential buildings decreased by 26.9%. At the end of June, the area of commercial housing for sale was 738.94 million square meters, a year-on-year increase of 15.2%. Among them, the area of residential housing for sale increased by 23.5%.
The first-home loan rate of the four major state-owned banks, including ICBC, Agricultural Bank of China, Bank of China and China Construction Bank, has been cut by 20 basis points, from 3.4% to 3.2%, while the second-home loan rate remains at 3.8%. The rate cut applies to Guangzhou.
According to insiders, the four major state-owned banks, such as Industrial and Commercial Bank of China, Agricultural Bank of China, China Construction Bank, and Bank of China, have recently unified their first-home mortgage rates, lowering them by 20 basis points from 3.4% (LPR-55bp) to 3.2% (LPR-75bp), while keeping the second-home mortgage rate at 3.8% (LPR-15bp). If a loan of RMB 3 million is calculated on a 30-year basis at an equal principal and interest rate, the monthly payment calculated on the previous interest rate of 3.4% is RMB 13,304.44, while the monthly payment calculated on the current interest rate of 3.2% is RMB 12,974.01, with a total interest savings of RMB 0.119 million and a monthly payment reduction of RMB 330.43. On the morning of July 15th, our reporter confirmed with multiple branches of the four major banks that some banks have already implemented the new policy. However, some banks also said that they had communicated internally to lower the rate but were still waiting for the final notice. (Southern Daily)
According to statistics from third-party agency E-House China R&D Institute, from January to June 2024, 60 real estate companies delivered a total of 1.386 million units. Among them, head enterprises had obvious delivery advantages. The delivery volume of TOP10 real estate companies accounted for more than half of the total delivery volume of 60 companies. They are equally balanced between state-owned and private enterprises.
Yiyang, a city in Hunan Province, released a notification to optimize policies and promote stable and healthy development of the real estate market in the central urban area. In this policy, it is mentioned that if a research and technical personnel under the age of 45 with a doctoral degree and a senior professional and technical title is newly introduced to city-level public institutions and enterprises in the central urban area, he or she will be given a housing subsidy of RMB 0.2 million on the first purchase of a house in Yiyang. The subsidy will be divided into 5 years and the standard is RMB 0.04 million per year. This policy will be valid from July 10, 2024 to July 9, 2026.
Residential transaction volume in Hong Kong in June decreased by 30%, new house prices have fallen below the 2015 level. Recently, data from the Hong Kong Land Registry showed that the number of residential building sales contracts in June was 3,856, a month-on-month decrease of 30.5%, halving from the April peak. In terms of prices, prices of new flats have fallen below 2015 levels.
According to the China Index Academy, as of June 30, over 90 cities in China had launched the “replace old homes with new homes” policy. Specifically, two mainstream models are “state-owned enterprises collecting old homes and replacing them with new ones” and “real estate agents selling first”. More than 30 cities are participating in the former and more than 40 in the latter. In the view of Chen Wenjing, director of market research at the China Index Academy, the effect of the “real estate agents selling first” model largely depends on market conditions. In the current buyer’s market, there is greater uncertainty in the resale of second-hand houses, and the overall effect is more limited. Compared with this, the “state-owned enterprises collecting old homes and replacing them with new ones” model involves national capital platforms that purchase second-hand houses directly from homeowners. Homeowners then buy new homes. Some cities have achieve certain effects with this model.
More areas in China are promoting the policy of 'replace old homes with new ones'.
According to statistics from the Hong Kong Land Registry, the number of signed contracts for building sales in June was 3856 units with a decrease of 30.5%, dropped by half compared to the sales peak in April of this year. As for the prices, prices for the new apartment are even lower than those in 2015.
Many areas in China are speeding up the implementation of the policy of replacing old homes with new ones.
45 real estate companies have delivered over 1 million houses in the first half of the year. There are 23 companies with over 10,000 deliveries, and eight companies with over 50,000 deliveries. In the current market environment, delivering a house directly affects the survival and development of real estate companies, and also reflects their competitiveness and social responsibility. According to Liu Shui, director of enterprise research at the China Index Academy, the regulatory authorities continue to attach great importance to the delivery of houses. The support of the “white list” for project financing of real estate companies is expected to speed up and show effectiveness. In the second half of the year, the delivery situation of real estate companies is expected to continue to improve.
45 real estate companies delivered over 1 million houses in the first half of the year. There are 23 companies with over 10,000 deliveries, and eight companies with over 50,000 deliveries.
According to the China Index Academy, 45 real estate companies delivered more than 1 million houses in the first half of the year. Twenty-three companies delivered more than 10,000 houses in the same period, and 8 of them delivered more than 50,000 houses. In the current market environment, the delivery of houses directly affects the survival and development of real estate companies and reflects their competitiveness and social responsibility. In the view of Liu Shui, director of enterprise research at the China Index Academy, the regulatory authorities continue to attach great importance to the delivery of houses. The support of the 'white list' for project financing of real estate companies is expected to speed up and show effectiveness. The delivery situation of real estate companies in the second half of the year is expected to continue to improve.
The mortgage rate continues to decline; experts predict that the mortgage rate may continue to drop.
According to the latest housing loan policy of our bank, the lowest loan interest rate for the first house in Guangzhou can be as low as 3.05%, and the loan amount needs to be above 6 million yuan; if the loan amount is between 3 million yuan and 6 million yuan, the loan interest rate is 3.1%; if the loan amount is below 3 million yuan, the loan interest rate is 3.15%. On July 13th, HSBC staff said. Since the new policy on the real estate market was released, housing loan interest rates in various regions have continued to hit new lows. The cancellation of the policy lower limit on housing loan interest rates has resulted in different loan interest rates among banks in different regions. According to the survey, the minimum housing loan interest rate in most regions has dropped to 3.5% or below. Industry insiders said that there may still be a possibility of a further decrease in housing loan interest rates in the third quarter of this year.
Two weeks after the release of the new real estate policy in Beijing, the transaction volume of second-hand houses and new houses has increased.
According to the latest data released by the Beijing Municipal Commission of Housing and Urban-Rural Development, the number of second-hand residences signed on the network in Beijing during the the two weeks from June 27 to July 10 was 8,004, an increase of over 7% compared to the previous two weeks before the policy was introduced. The number of signed contracts for new commodity residences in Beijing was 2,666, an increase of over 40% compared to the previous two weeks before the policy was introduced. In particular, during the first weekend after the new policy was announced, from June 29th to 30th, a total of 720 new houses were sold in Beijing, an increase of 240% compared to the last weekend before the new policy.
In 2024, British homeowners reduced their asking prices for the first time. Due to election uncertainty and high mortgage interest rates suppressing confidence, UK home sellers cut their asking prices for the first time this year. Real estate website Rightmove said on Monday that the average asking price of sellers fell 0.4% to 373,493 pounds in July, the first drop since December last year. Because interest rates remained at a 16-year high and Bank of England officials warned that signs of inflation were hard to come by, the budding recovery in house prices in the first few months has lost its momentum. The early election on July 4th may have made many movers more cautious. However, Tim Bannister, director of property science at Rightmove, said that the first interest rate cut since the start of the epidemic and the political certainty after the election might lay the foundation for a positive development of the autumn market. The rate cut is expected to result in mortgage loans.
Due to the uncertainty of the election and the high mortgage rates, which dampened people's confidence, British property sellers lowered their prices for the first time this year. Real estate website, Rightmove, announced on Monday that the average price of sellers in July fell by 0.4% to 373,493 British pounds, the first decline since December last year. As interest rates remain at a 16-year high and Bank of England officials warn of lingering inflation signs, the recovery of housing prices in the past few months has lost momentum. The pre-election on July 4 may have made many people more cautious when moving. However, Tim Bannister, Director of Real Estate Science at Rightmove, said that the first interest rate cut since the epidemic and the political certainty after the election 'may lay the foundation for positive development of the autumn market'. The expected reduction in the benchmark interest rate is likely to lead to mortgage loans.