Between Yanjiao and Beijing, there is a bridge. This bridge is only 500 meters long.
At the beginning of 2021, the day the new policy for Yanjiao commuters to enter Beijing was implemented, it took Zhang Yu a full 4 hours to reach his company. It took 2 hours just to walk this 500-meter bridge.
An Epidemic that made more people lament, “So many cities around Beijing, Yanjiao is close to China World Trade again, Gu’an is close to Daxing Airport again, they are not Beijing after all.”
Disappointed, Zhang Yu left Yanjiao in early March. Before he left, he sold his house for 1.7 million yuan. When the house was first bought, the price was 4 million yuan. Zhang Yu’s social media platform “no money back” text, with the pathos of “I’m not happy anymore” Music.
Since March 17, 2017, 4 years since the purchase restriction, is to make the Beijing ring Home buyers anxious 4 years: the property market from the magic to reality, some people into the field, some people left, some people were set.
According to the public data, the property prices in the Beijing-ring property market have fallen back sharply from the high point in 2017. In this process, the trend of house prices has produced a divergence, some lots of house prices fluctuate less, but many regional house prices have fallen by an average of up to 40% in the past four years, and in some cases by as much as 71%, according to the calculation of 30% down payment, many people’s down payment has fallen out and become a negative asset.
The so-called ring of Beijing refers to the distance within 70 kilometers from Beijing, roughly including Yanjiao, Dafang, Xianghe, Gu’an, Yongqing, Zhuozhou and other places.
On March 18 of this year, although Yanjiao welcomed a large wave of settlers due to the relaxation of the settlement threshold, and the Yanjiao property market made waves again, there are still lingering dark clouds hovering over the Beijing-ring property market, which has been restricted for four years: real estate agents chasing commissions, Beijing-ring real estate enterprises struggling to get by, just-needed customers cautiously watching, and high takers in default and insolvency.
Even so, there are still some people in the anxiety, waiting for hope.
01Moving forward in the anxiety
After years of house price cutback, the property market around Beijing is not as prosperous as it was then.
In November 2020, the national average price of commercial housing exceeded 10,000. If you check the list of the top 100 county-level cities with prices over 10,000, pull to the bottom to see Xianghe, Zhuozhou and other cities around Beijing on the list.
Anjuke data shows that in March this year, the average price of new houses in Zhuozhou city was 10,600 yuan per square meter, flat compared to last month and down 6.62% compared to last year; the average price of new houses in Xianghe was 12,400 yuan per square meter, down 1.55% compared to last month.
In the Beijing-ring property market, where prices are still fluctuating, people from all walks of Life are moving forward in anxiety.
A Beijing-ringed agent told the city community that many people were not comfortable coming over to look at properties when the epidemic had not completely passed. They deal one or two sets a month is considered good, and some do not start for months.
The phenomenon of real estate brokers being owed commissions by developers also still exists. in early March, a netizen posted a post on Hebei News titled “Hebei Langfang Gouan County Xuefu Qinghua sales office owes brokers commissions”. The developer of this property, Xuefu Qinghua, is a small and medium-sized real estate enterprise called Zhongding Real Estate Development Co.
In the post, the netizen wrote: “After selling the house, the customer procedures are done. The developer various reasons not to give the settlement (broker), all kinds of kicking the ball, arrears has been six months long, a total amount of more than 4 million yuan.”
Since the implementation of the purchase restriction policy four years ago, the property market in Gu’an has become lukewarm. Delinquent real estate broker commissions, is the local small and medium-sized housing enterprises in order to spend the day, to make all the tricks. On Hebei News, there are few posts complaining about Zhongding Real Estate, such as the delay in applying for the real estate license, the violation of the purchase price difference and so on.
On the other hand, Yanjiao (part of Sanhe City), which is known as a bridgehead around Beijing, is also in turmoil. on February 18, on the website of Sanhe City Housing and Urban-rural Development Bureau, a netizen posted that “Yanjiao Tianyangcheng 4 generation existing houses cannot be delivered, and the developer is nowhere to be found.” This unknown developer is Tian Yang Real Estate (Sanhe) Co.
Yanjiao Economic Development Zone, Sanhe City
In response to the netizen’s complaint, Sanhe URA replied that due to an economic dispute with the financing unit China Huarong Asset Management Co., Ltd. Beijing Branch, the company’s financial account, official seal and receipts are in the hands of the financing company, and the current sales, contract signing and house acceptance of Tianyang 4 Generation cannot be carried out.
An owner of Tianyang City told the city community, “The developer of Tianyang City, a property with a problematic capital chain, is facing bankruptcy and has a very large number of disputes. There is no good way at the moment.”
The domino effect of poor real estate companies has also been transmitted to home buyers.
Half a year ago, Zhang Qian learned from a property sales in Gu’an, led by a well-known real estate companies, Gu’an six middle schools and Tianjin Nankai High School signed an agreement.
The agreement roughly means: Beijingers who have a Tianjin account, if they buy a property around the school, their children will be able to go to school at the Sixth Middle School in Gu’an, and will then enjoy the same score as the Tianjin entrance examination.
After hearing this news, Zhang Qian was overjoyed. She felt that it was simply tailor-made for her Family. However, the epidemic was repeated and Gouan was even closed in early January, so Zhang Qian’s plan to buy a house was put on hold.
Now, the epidemic has improved, Zhang Qian will buy a house plan on the agenda. But what I didn’t expect was that in mid to late March, Zhang Qian got bad news from a real estate agent: the introduction of this policy of well-known real estate companies, because of financial difficulties, sold many plots of land in Goodyear this year.
The properties around the six schools in Guyan are almost all developed and built by the well-known real estate company as well as its holding company.
“The capital chain rupture real estate enterprises of the property, is really afraid to buy, afraid to become a rotten building.” Zhang Qian said.
The home buyers who took over the property at the high level of housing prices around Beijing, the state of mind at this Time, can be described as “unbearable”. In a social networking platform, a netizen named “thick earth” posted that he was “giving away (Yanjiao) Tianyang City property (there is still a loan) on a first-come, first-served basis and paying back the loan himself.”
The netizen bought the 40-square-meter one-bedroom house for 27,000 yuan per square meter in 2016, when prices in Yanjiao were rising, for a total price of 1.08 million yuan. The house has been paying off the mortgage for roughly four years, with monthly repayments of 4,200 yuan, leaving 736,400 yuan in loans.
The aforementioned owner of Tianyangcheng said, “This is true”. He also revealed that due to the “insolvency”, many owners of Tianyang City’s house was mortgaged to the bank, resulting in no way to get a real estate license.
In the property market around Beijing, there are frequent defaults by home buyers. These purchasers are in the case of no house purchase qualification, and the developer or second-hand house owners signed the purchase contract. After the continuous decline of the property prices in the ring of Beijing, many people lost half of their houses before they could get their hands on them.
How did the property market around Beijing get to this point?
02 From magic to reality
In 2014, after the boots of Beijing-Tianjin-Hebei cooperative development landed, the property market around Beijing began to surge, and in 2015, after Beijing introduced the “330 new policy”, the property market “quantity and price rose”.
With the high prices in Beijing, many northerners who have no hope of buying a home in Beijing have gone to the Beijing Ring to purchase properties. At the same time, speculators also flocked to the area. In a short period of time, the demand for housing increased greatly, resulting in an oversupply in the property market, and the price of housing around Beijing has grown wildly since then, with the price of housing in Yanjiao, Dazhuang and Xianghe almost doubling.
Xianghe
Around 2016, the house price in Yanjiao even reached nearly 40,000 yuan per square meter. While the property market around Beijing is hot, developers are rejoicing. Some big developers even mobilized 200 salespeople at once for the opening of their projects.
Zhuozhou, which does not have an advantage over Yanjiao and other areas, also saw its prices rise from more than 5,000 yuan per square meter all the way to more than 10,000 yuan per square meter.
It was at this time that Feng Zhi became a professional house speculator, “It doesn’t matter if you can’t read the house plans, standing on the wind of the market, pigs can fly to the sky”.
At that time, the popular word in Zhuozhou was “bet on a set”. The so-called bet a set, refers to the new house, regardless of the type, area, etc., the buyer only need to greet with the developer, pay a deposit of 100,000 yuan, 200,000 yuan to get the room, and then add money to sell to others at a higher price.
Feng Zhi recalled to the city community, “second-hand houses do not even need to transfer, directly add money to be sold quickly.” After buying and selling several suites in partnership with others, Feng Zhi earned 200,000 in 1 month. With this money, Feng Zhi bought his first car.
His friends, on the other hand, to buy a large number of top floor houses of the board building at a low price. At this time, Zhuozhou property market has been extremely crazy, when all the houses are a rush, Feng Zhi’s friends will be the top floor of the house released.
There is no suspense, after selling the top floor house at a high price, Feng Zhi’s friend made a lot of money.
Zhuozhou into the madness of the time, the property market in Gu’an also flames high. 2016, Daxing airport to determine the high-speed route, closed construction, etc., touching and Daxing a river away from the Gu’an. In just one year, the price of Gu’an soared from more than 8,000 yuan per square meter to more than 20,000 yuan per square meter.
Liu Xin, who has 8 years of experience in real estate sales, remembers the hot property market in Gu’an in those years. The most hot time, some people with money can not buy a room. 1000 suites, the number can shoot to four or five thousand or even outside.
The house priority to sell to whom, there is also a primary and secondary. The first to pay a deposit for the number, the first row first choice. The first customer who paid in full, the second is the customer who paid 50% down, and the rest is the customer who paid 30% down.
Soon, the average price of a house in Gu’an soared to 27,000 per square meter. Subject to the average price can not be higher than the government record price, the developer came up with a “trick”: the excess premium, bound to a parking space.
For example, a house of 80 square meters, the government’s record price is 17,000 yuan per square meter, the market price is 27,000 yuan per square meter, 10,000 yuan per square meter extra premium, 80 square meters is 800,000 yuan. On the bright side, “the 800,000 yuan is the money to buy a parking space,” Liu Xin told the city.
The price of housing in the Beijing-ring area at this time is speculative demand speculation up. But property first, the integration of Beijing-Tianjin-Hebei and the development of the regions around Beijing, is not a good thing.
So, in March 2017, after Beijing’s property market control policies were increased, the Beijing-ring property market also set off a storm of restrictions. As in Langfang, after a paper purchase restriction order disguised to seal off liquidity, Langfang property prices quickly quenched and officially turned down in March 2018.
House prices also began to fall immediately after Yanjiao’s purchase restrictions were issued, and by October 2018, had fallen to 16,000 per square meter, a drop of nearly 35%.
The surging tide receded, and the property market in many parts of Beijing fell into a freezing point, and in 2017, intermediaries such as Chain Home and I Love My Home, one after another, withdrew their guide stores in the Beijing-ring property market.
Two years later, house prices in Yanjiao have fallen from a peak of 40,000 yuan per square meter to less than 20,000 yuan per square meter; house prices in the Dazhan area have fallen from 35,000 yuan per square meter to more than 10,000 yuan per square meter.
Under the harsh reality of many places around Beijing where house prices have been decimated, a host of Hebei real estate companies are also having a hard time. 2019, Baoding Xiulan Real Estate burst into flames, with many of its layouts in places such as Xianghe in the ring of Beijing.
A large number of house salesmen and first-line agents, in order to survive, or change jobs, or go south. Many speculators, as well as northerners who took over at high levels, lost their bottom. That year, foreclosures in Yanjiao rose to 94 units.
In 2020, the epidemic hit hard and the Beijing-ring property market snowballed. In Yan suburbs, for example, the average price of houses at the beginning of the year was 20,600 yuan per square meter, and the average price fell to 17,600 yuan per square meter at the end of the year.
At this time, the number of foreclosed houses in Yanjiao reached 210, which is 2.2 times more than in 2019.
Some of the struggling northerners finally faltered after another recurrence of the epidemic in early 2021.
Song Zhen bought his house in Gu’an. From Gu’an to Beijing, you also have to cross a bridge. As Zhang Yu crossed that bridge in Yanjiao, it took Song Zhen several hours to walk across the bridge in Gouan at a time of strict inspection.
“I plan to sell the house in Gu’an and switch to Huangcun in Daxing. It doesn’t matter if it’s smaller, I won’t be able to go back because of the epidemic.” Song Zhen said.
03 Has the wind changed?
Even if the situation is so, there are still people waiting for the wind to come.
In 2020, the property market around Beijing welcomed a group of speculators. They bought 50 suites in a group in the three northern counties (Sanhe, Dazhan and Xianghe counties in Langfang) with almost full payment. Their purpose is clear: pure investment, optimistic about the development of the three northern counties around Beijing.
Some developers are also waiting for the right time. Some properties have been capped, even if even the money to buy shirts for employees, there are developers just do not sell.
“To use counter-trend thinking, the lower the point, the better the opportunity.” One developer told the city.
Secretly, the winds are indeed quietly changing. A number of real estate brokers around Beijing told the city world that from 2020, while second-hand houses in Yanjiao are still restricted, new properties are not, and both Beijing and foreign households can buy them.
Yanjiao Town
With the new wind, some of the salesmen who left the Beijing ring are coming back and they seem to see hope again.
As a local in Yanjiao, Huang rang somewhat resisted the online viewpoint that sings the praises of the Beijing-ring property market. He insists that the Beijing-ring area, such as the location of the three northern counties, has both owner-occupied and investment value, and is only developing slightly slower.
But an epidemic at the beginning of 2021 made the Yanjiao property market, which had warmed up a bit, become cold once again.
With the reality of the dismal turnover, there are agents who can’t sit still.
From March 5, some platform agents released information in their circle of friends and postings that “Yanjiao second-hand houses are open for purchase restrictions”. This news made a lot of homebuyers excited to sharpen their knives to Yanjiao.
However, Sanhe URA staff told the city community that this is false news and Yanjiao is still implementing the 2017 purchase restriction policy.
In Xianghe, the relaxation of the purchase restriction policy or not is also obscure. on March 8, a real estate broker around Beijing called Yu Tao, who recommended a house in Xianghe, “The house is quoted at 9,500 yuan per square meter, and a parking space is sent for free.”
Yu Tao checked on the Internet, the project at the end of 2020, the price is still about 11000 yuan per square meter, now it has dropped to about 9500 yuan per square meter, and give away a parking space, equivalent to last year to now, the price has dropped about 20%.
The broker also told Yu Tao, “No purchase restrictions, the developer can help solve the problem of eligibility to buy a house.”
In fact, the story of the wolf has been repeatedly played out here. Since 2017, the Beijing-ring area has been regulated by “counties”, during which news of “relaxation of purchase restrictions” has broken out several times, but each time the official “disinformation”.
“The entire development and construction of the Beijing ring has just started, the early can not relax, once the purchase restrictions relaxed, housing prices went up again, is not conducive to the development of the Beijing ring, now the foundation is too weak.” A senior real estate people frankly said.
Like millions of workers in Beijing, Xia Feng still hopes to own a house, and the Beijing area is his current optimal choice.
However, since the purchase restriction four years ago, the property market around Beijing has been hovering at a low level. Xia Feng’s friends have told him more than once that if he wants to buy a home in Beijing, he should take advantage of it now, because the price will not be the same when the purchase restriction is released.
Xia Feng has also been looking for a suitable house, but he always had a lingering question in his mind, “If I start now, am I taking the bottom, or taking over?”
As we all know, the cities around Beijing mainly carry people without Beijing household registration. However, under the strategy of reducing development and decongesting non-capital functions, Beijing’s urban population in 2019 is 127,000 less than that in 2015.
The reduction of Beijing’s population has, to a certain extent, affected the purchasing power of the Beijing-ring property market. This makes a lot of home buyers, for whether housing prices will continue to fall, there is no bottom in mind.
And how to absorb people, and will stay to settle employment, is still a problem of the development of the Beijing ring.
From March 13 to March 18, in just over a week, from “you can settle in Yanjiao if you have a house book and the house is residential in nature” to “you are told to suspend the settlement business, don’t go for it then”, the Yanjiao settlement policy has changed again and again.
The policy of settling down in Yanjiao is changing from time to time, but the threshold is still being relaxed after all. The lowering of the settlement threshold means that more people are qualified to buy homes. This makes the major agents happy, and the Yanjiao property market, which had been cold earlier, is rarely rippling again.
However, in the industry’s view, the relaxation of household registration can certainly boost the demand for improved housing in the short term, but it cannot save the Yanjiao property market which has been declining for years.
“The majority of the areas around Beijing are not only not fully equipped with infrastructure such as transportation, but also have scarce software facilities such as educational and medical resources, and more importantly, their industrial structure is also relatively homogeneous.” The aforementioned senior real estate professionals said in an analysis.
The single industrial structure means that the employment problem of home buyers cannot be solved, even if they have a household registration, people can only work in Beijing during the day and come back to sleep at night. In this way, the cities around Beijing may still be a “sleeping city”.
Therefore, strengthening infrastructure construction, supporting local economic development with industry, attracting talents to stay and settle down, and in turn promoting the development of the whole property market, is the most important thing to do in the Beijing-ring area.
(All characters in this article are pseudonyms)
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