Shenzhen second-hand housing regulation storm, the bank with, the market quickly into the freeze. As a key part of the “property market Maotai” real estate, the industry expects the second-hand houses will continue to cross, prices will also enter the downward channel, Shenzhen house prices “never fall” argument or will be broken.
Another spring is March.
Pull back the Time a year ago, the Shenzhen property market is a rare magic rise in history, second-hand houses overnight million, the owners teamed up to sit in the bank; people lined up to “play the new”, China Merchants Bay Seal three open three sold out, investors crazy into the market.
This is the name of the “property market Maotai”.
A year later, in a series of regulatory policies, Shenzhen hit the new still magic, second-hand housing is in the doldrums. On February 8, Shenzhen URA released 3595 second-hand housing district transaction reference prices, most of which were lower than the market price, some even only half.
Only half a month later, the URA again additional regulation, from February 23, strictly check the intermediaries in stores, websites, WeChat, qq and other platforms of the release of second-hand price information, if found higher than the reference price will be severely punished.
The majority of the agents did not receive any money during the past New Year’s Eve holiday, the Lantern Festival, and the market was in a freeze.
Second-hand circulation and turnover, is the value of “Maotai” can be a key part of the realization, under the severe policy restrictions, the Shenzhen property market, “Maotai myth” is broken? Most industry insiders said that the transaction of second-hand houses in Shenzhen is difficult to pick up in the short term, shrinkage of horizontal plate will continue. A part of people believe that the second-hand house prices will also step into the down channel.
The second-hand house freeze
The first thing that was hurt by the new regulation of second-hand houses in Shenzhen was the intermediary.
The first thing that you need to do is to get a good idea of what you’re looking for.
The agency said that the reference price of second-hand houses at this stage not only inhibits the demand of Home buyers, but also discourages the owners of the listing enthusiasm, “many areas suffered a massive withdrawal, some owners are in a capricious mood, some owners said in the morning to sell, the afternoon is not sold, there are owners to sign the contract refused to go out”.
The agent said, in addition to a very few urgent need of money, most owners sell their houses are to add leverage to replace a better house, if the bank according to the reference price down the mortgage line, which is equivalent to blocking the road to their replacement, so at this stage many owners prefer to cover the plate.
The market is in a stalemate: no price, owners cover the property, can’t sell the house, no deal. A broker at a chain store in the center of Baoan said that there was not a single transaction of second-hand houses in the whole area so far on February 8; and before the release of the reference price of second-hand houses, the area is a hot area for second-hand house transactions in Shenzhen.
The hottest Bagua Ling school district houses are also “cold”, so far on February 8, Bagua Ling area only a single transaction. Shenzhen’s primary and secondary schools open their enrollment in April and May, and in previous years, February and March was a popular period for showing and trading school houses.
Shenzhen Real Estate Agency Association data show that after February 8, Shenzhen second-hand house single-day transactions from hundreds of thousands of sets of “ankle chop” to dozens of sets, or even single-digit; the latest week (February 15 to February 21), Shenzhen second-hand house net signings 362 sets, down 78.3% compared to the ring.
The data from the Lejia Research Center shows that the Shenzhen property market transaction is nearly “static” after the return of the New Year.
The most critical part of the new Shenzhen second-hand house reference price is whether banks lend according to the reference price, after nearly a month of fermentation, this expectation has been very clear.
A Centaline intermediary said, confirmed by the company’s mortgage officer, the cooperation of banks, Bank of Beijing, Construction Bank, Agricultural Bank, etc. has issued mortgage loans in accordance with the reference price.
As of February 27, the four major banks in Shenzhen have all stated that the government reference price as an important basis for issuing mortgage loans. The four major banks’ mortgage loans, accounting for more than 80% of the total market transactions.
In addition to the tightening of mortgage loans, the policy is also strictly control the flow of business loans into the property market. In this regard, a chain agent said, “At this stage, you don’t need to consider business loans to buy a house, the small financial institutions we contacted are afraid to take orders, while the banks are not guaranteed not committed attitude.”
If banks issue mortgage credits according to the reference price, and the owner pricing remains unchanged, the down payment for home buyers will be significantly increased.
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