The Chinese Communist Party cracked down on the Shenzhen property market, some owners cut the price of 1.5 million to sell

On February 8 this year, more than a month after the Shenzhen authorities introduced the reference price of second-hand houses, the number of second-hand online signings in Shenzhen was cut in half. The picture shows a scene in Shenzhen.

Shenzhen property market after the Chinese Communist Party authorities continue to suppress the reality of the second-hand housing volume and prices have fallen, and some owners have even reduced the price of their homes by 1.5 million yuan to sell the phenomenon.

According to the Communist Party’s National Bureau of Statistics released on May 17, “April 2021 70 large and medium-sized cities commodity residential sales price changes”, whether new house prices or second-hand house prices, Shenzhen ranked outside the 20, and Shenzhen’s second-hand housing market has not increased for two consecutive months. Especially after the Shenzhen authorities launched a guide price for second-hand houses on February 8 this year, the volume of second-hand houses plummeted.

Because the guide price is only 70% of the market price of second-hand houses, and banks are according to the guide price to customers to issue loans, resulting in the demand to buy houses from the bank loan reduction, but the house transaction price is still in accordance with the original market price, and not in accordance with the guide price to buy and sell, with the amount of loans reduced, many people have the demand to buy houses had to temporarily give up the idea of buying houses. The second-hand housing market continues to go down.

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As the volume of transactions fell sharply, the price of second-hand homes also began to fall. The report quoted the Shenzhen local media Shenzhen house guest will release the news, including the Swan Castle, Zhonghai No. 9 Mansion, Hepingli, Xiangshan Meishu, Zhongzhou Huafu, Hua Xian Hua Xiang and many other neighborhoods second-hand listings have appeared owners to reduce the price of the phenomenon of sale, and there is even a price reduction of 1 million yuan, 1.5 million yuan listings.

A real estate agent said: “The current net signing situation may not be a lot yet, but the listing volume is increasing, which means that the owners are no longer shying away from selling, and if they meet a like-minded buyer and the right price, they still have the possibility of selling. Now it’s more of a buyer’s market, and there are still a bit more buyers on the sidelines.”

Globo Real Estate collated the table of the second-hand house price index from January 2020 to date and found that for the first time in the second-hand house price, the ringgit was flat, but the price index has fallen for two consecutive months and to the lowest value in nearly 11 months.

According to Zhuge’s statistics, the number of units sold and the area sold of second-hand houses since February this year fell below the previous data, the market performance is not optimistic.

In this regard, commentator Wen Xiaogang said, Shenzhen property market cooling is an illusion, is by the Chinese Communist Party with administrative means to strongly suppress down, the market demand is still there, the Chinese Communist Party is only afraid of the continued inflow of funds into real estate, blowing the building bubble, at the same time cause the capital can not enter the manufacturing industry, resulting in manufacturing industry atrophy. But the CCP’s so-called “regulation and control” is only delaying the market demand, blocking the demand, once the CCP relaxes the regulation and control of the property market, the demand will explode again, and property prices will rise then.

On May 17, Shenzhen officially released the latest population data, the current resident population of Shenzhen is 17.56 million people, but the city only 2019.95 square kilometers of area. And the public data shows that currently there are about 2 million sets of commercial houses in Shenzhen, 5.07 million sets of small property rights houses, and apartments, dormitories and subsidized housing that can be used for living, and Shenzhen, as a city with a large annual inflow of people on the mainland, still has a great demand for housing.