The National Bureau of Statistics released in March 70 large and medium-sized cities in the second-hand and new house price index, 35 third-tier cities, there are still 10 cities second-hand house prices below the level of a year ago. This year, a number of hot cities on the mainland housing market regulation continues to tighten, but also some of the hot third and fourth-tier cities property prices cooled, compared to the hot Yangtze River Delta, Guangdong, Hong Kong and Macao Bay Area, the central and western, northern third and fourth-tier cities in the mainland downturn.
March data show that 35 third-tier cities still have 10 cities second-hand building prices below the level of 1 year ago, for example, Beihai than a year ago fell 3.4%, Nanchong fell 5.3%, Mudanjiang City even fell 9.4%, a drop of nearly 10%. The analysis of the Shell Research Institute report cited by the domestic media also shows that, without considering inflation, the second-hand property prices in Mudanjiang last year have fallen back to the price level of five years ago, and even after the drop in the first quarter of this year, the property prices have directly regressed 14 years back to the 2007 level.
Therefore, some third and fourth-tier cities in the central and western and northern parts of the mainland have launched a series of policies to boost the property market since March this year, with the intention of stabilizing the property market. For example, during the housing fair held in Zhangjiajie in April this year, a special deed tax subsidy policy was issued, allowing purchasers of new commercial housing or apartments (including serviced apartments) in the downtown area during the exhibition period to enjoy a deed tax subsidy of no more than RMB 20,000 per suite. In addition, Sichuan Dazhou Municipal Government also issued the Notice on the Extension of the Implementation Period, renewing the subsidy of 100 RMB per square meter for the purchase of properties in the central city of Dazhou until the end of June.
In fact, both in property prices and in the land market, the third and fourth-tier cities are showing a clear differentiation between them. In the land market, for example, the current supply and demand relationship is generally balanced, and only a few cities are able to maintain both a faster depletion of new buildings and a higher fever in the land market.
Earlier in the media also quoted Shell Research Institute research found that since the ebb of shanty reform (dangerous building renovation), the lack of fundamental support for non-core third and fourth-tier cities, the demand side shrunk significantly, but the supply of land and new housing is still increasing, the mismatch between supply and demand coupled with the original old building circulation difficulties and other issues, has formed a “new building – second-hand building backlog down “The vicious circle.
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