Mini Program: Daily Real Estate Industry News Summary.
1. With more than 10 times the subscription, a new record in three years, over 2,000 people rushed to grab 192 houses at a property in shenzhen.
A third 'sunrise property' born in shenzhen this year. On October 19th, the Zhongjian Guiyue Mingdit project in Guangming District opened for sale and sold out completely in nearly 2 hours. The property launched a total of 192 commodity residences, successfully subscribed and participated in the selection by 2047 people, with an entry ratio as high as 1:10.66, equivalent to more than 10 people competing for one house, breaking the new shenzhen subscription record in nearly three years. The Le Youjia Research Center pointed out that the property's price has a strong competitive position in the Guangming new housing market. In addition, the high subscription rate of the property may also be related to its location in a non-restricted purchase area.
2. In many places, housing loan interest rates are as low as in the 2s, with the house loan interest rate in Guangzhou possibly lower than that of the provident fund loan interest rate.
On the morning of October 21st, the LPR was adjusted downwards for the third time this year. After this rate cut, the mortgage rates in many cities will drop to the "2% range". For example, the first home loan rate in Qingdao will drop to 2.9% (LPR-70 basis points), the first home loan rate in Hangzhou will drop to 2.9% (LPR-70 basis points), and the first home loan rate in Nanjing will drop to 2.7% (LPR-90 basis points). According to Southern Metropolis Daily, after this LPR cut, mortgage rates in Guangzhou may reach a new low of 2.6%, even lower than the provident fund loan rates. (Finance website)
3. The second 'sunrise property' appears in the shenzhen property market after the new policy, with a sales amount of approximately 0.6 billion yuan.
According to the announcement from Shenzhen, on October 19, the Centralized Opening Ceremony of Zhongjian Guanyue in Guangming Phoenix City, Shenzhen was officially held. A total of 2047 customers rushed to grab 192 sets of houses. The registration ratio was 1:10.66, and the houses were sold out in 90 minutes after the opening, with sales amounting to approximately 0.6 billion yuan. This is the second 'Daylight Plate' in Shenzhen after the new property policy on '9.29', and the third 'Daylight Plate' in Shenzhen this year.
4. Ke Holdings: Since the implementation of the new property policy in shenzhen, the daily average signing volume of second-hand houses in stores has increased by 228% compared to the previous month.
According to the monitoring data released by the Shenzhen Ke Research Institute today, since the implementation of the new real estate policy in Shenzhen for 21 days (from September 30 to October 20), the average daily second-hand house signing volume of ke holdings' cooperative stores in Shenzhen has increased by 228% compared to the previous month, far higher than the increase after this year's "506 new policy": the daily average signing volume of second-hand houses after "929 new policy" is 144% higher than after "506 new policy".
In Hangzhou, the daily average number of new signed second-hand housing transactions surged by 106%, while the online new house subscription volume in Hangzhou increased by 122%.
On October 9th, Hangzhou issued a major new policy on the property market, involving five measures including canceling the price limit on newly listed residential land, and optimizing the housing provident fund loan policy. The latest data from a real estate trading platform shows that in the past week, the daily average number of new signed second-hand housing transactions in Hangzhou increased by 106% compared to September, and the online new house subscription volume increased by 122% compared to September.
Institutions: In the first half of the month, transactions of new houses in 12 cities increased by 8% year-on-year, and in the second week after the holiday, the daily average transactions in first-tier cities increased by 227% compared to the previous week.
A report from the Ke Rui Research Center shows that in terms of new property transactions, looking at the changes in weekly transaction area of commodity residences in the 12 core first- and second-tier cities since September, since the concentrated release of supply at the end of September, transactions dropped to a low during the National Day holiday from October 1st to October 7th due to the impact of the holiday. However, starting from October 8th, there was a concentrated release of supply, with project subscriptions during the National Day period reflected from October 8th to October 15th. The total transaction volume in the 12 cities reached nearly 2 million square meters, a 141% increase from the daily average in September. Overall, the cumulative year-on-year growth turned positive by 8% in the first 15 days compared to the previous year. First-tier cities saw a rapid increase in transactions due to policy bullishness. The average daily transactions in the second week after the holiday increased by 227% compared to September, especially Guangzhou achieved a threefold growth after fully relaxing restrictions, while Shenzhen also saw a 109% increase due to supply constraints. Overall, the year-on-year positive growth in first-tier cities in the first 15 days of October was 11%.
Shanghai's real estate market has seen a significant increase in market activity three weeks after the implementation of the 'Shanghai Seven Policies'.
Shanghai issued the real estate "Shanghai Seven Regulations" policy on September 29. From the situation after three weeks of implementation, the policy effects are gradually becoming evident, with a noticeable increase in market activity and a resurgence in the outer ring housing market. The fill prices have stabilized, and since October, based on the second-hand housing price data from the Shanghai real estate monitoring platform, the average transaction price has slightly increased month-on-month. The trading activity in the outer ring areas has increased, and adjustments optimizing housing purchase restrictions and other policies for the outer ring areas under the "Shanghai Seven Regulations" have shown initial effects. Visits to new housing projects in the outer ring areas have increased by 28%, higher than the citywide average. Meanwhile, the proportion of transactions in second-hand housing in the outer ring areas has risen to 57%. Among them, the proportion of transactions for affordable housing below 100 square meters has increased to 77%; benefiting from the policy bullish trend of shortening the years for value-added tax exemption, the proportion of transactions for nearly new houses has also increased.
Kunming: The minimum down payment ratio for purchasing indemnificatory apartments with housing provident fund loans is 15%.
On October 17, the Kunming Housing Provident Fund Management Center issued a notice stating that the minimum down payment ratio for individuals using housing provident fund to purchase indemnificatory apartments is 15%.
In the third quarter, the average rent for residences in 50 cities decreased by 0.56%, according to the China Index Research Institute.
According to the China Index Research Institute's index of residential rental prices in 50 cities, in the third quarter of 2024, the average rent of residences in 50 cities dropped by 0.56%. Looking at a monthly breakdown, in July, supported by the graduation season effect, the housing rental market maintained a certain level of heat, with average rents in key cities showing a slight increase; in August, as the effect of the graduation season subsided, the pace of rental demand eased, causing a slight decrease in rental levels in the 50 cities; in September, the average rent for residences in 50 cities was 36.1 yuan/square meter/month, a decrease of 0.39% compared to the previous month, and a 2.52% year-on-year decrease.
The Loan Prime Rate (LPR) has lowered for the third time this year, with the first-home mortgage rates in Beijing, Shanghai, and Shenzhen likely to decrease to 3.15%.
The LPR has witnessed its third decline this year, with the 1-year LPR at 3.10% and the LPR for over 5 years at 3.60%, both decreasing by 25 basis points. Currently, the interest rate for new first-home loans in Beijing, Shanghai, and Shenzhen is LPR-45BP, now at 3.15% after this decline. Yan Yuejin, Deputy Director of the Shanghai E-House Real Estate Research Institute, told reporters that this LPR cut will have a tangible impact on mortgage rates. In many places, mortgage rates will drop from the 3%-range to the 2%-range, further indicating an ongoing and historically loose adjustment phase for mortgage rates. Looking ahead, Wang Qing, Chief Macro Analyst at Orient Securities, believes that the LPR quotes for the rest of the year may remain stable. (China News Network)
Peking: Real estate development investment in the first three quarters decreased by 4.5% year-on-year.
According to the statistics released by Peking Municipal Bureau, the total production value of the whole city in the first three quarters was 3,346.2 billion yuan, an increase of 5.1% year-on-year. Among them, the value added of the primary industry decreased by 0.4%, the secondary industry increased by 5.2%, and the tertiary industry increased by 5.1%. Real estate development investment decreased by 4.5% year-on-year, housing construction area decreased by 9.6%, and commodity housing sales area decreased by 2.3%.
