During the Ching Ming Festival, a news that "Xianghe, the worst real estate market in Beijing, the house price is "knee cut"" caused heated discussion on Weibo.
According to the description of a real estate company who released the news, Xianghe R&F New City, which was once listed for 25,000 yuan per square meter, Qingming launched a special room for only 8,000 yuan per square meter, and the purchase of a house would give a parking space.
In fact, in the opinion of many local intermediaries in Xianghe, it is not uncommon for local housing prices to stage a "knee cut".
Xianghe, the county seat of Hebei that is 30 kilometers straight from Tongzhou, the sub-center of Beijing, is the second largest gathering area of Beijing commuters in the area around Beijing.
However, its house price has been less than 1/3 of Tongzhou since the purchase restriction, and it is also lower than Yanjiao and Dachang in the Beijing area.
"It has bottomed out." A local intermediary told China Business News that the purchasing power of Beisan County (Yanjiao, Dachang, Xianghe) is mainly driven by buyers in Beijing east of the East Third Ring Road.
After the purchase restrictions in Beisan County in 2017, Xianghe's housing demand dropped sharply and inventory digestion was slow.
In this context, new developers are unwilling to enter, and the old developers are under great pressure to pay back, and they can only reduce the price of new houses again and again.
However, the above-mentioned intermediary also stated that starting from mid-2020, the new house purchase restriction policy for foreigners will actually be liberalized, which provides an opportunity for developers to "unwind" and for buyers who just need to buy houses from other places.
However, as many developers hope to exchange price for volume, digest inventory as soon as possible, and not drag down projects in other areas, after entering 2021, Xianghe housing prices continue to fall.
Before the Spring Festival this year, the starting price of rough existing homes in R&F New City has dropped to 11,500 yuan per square meter.
The successive price cuts put some buyers into a wait-and-see state, hoping to buy a house at a lower price.
On the eve of the Ching Ming holiday, after the news of the "diving" price cut in R&F New City late trading, some demand began to move around.
At the sales office of R&F New City in the northern new city of Xianghe, there is an endless stream of Beijing home buyers who come to see and buy houses.
Up to now, nearly 90% of the 300 sets of special offers listed this time have been sold.
"House prices fell back to seven years ago"
On the 5th, a reporter from China Business News found that in the real estate sand table in the sales hall of R&F New City, the word "sold out" was hung in front of most buildings.
A sales manager at the sales office of R&F New City told China Business News that as early as the day before, there were only less than 20% of the discounted rooms on sale, and most of the remaining listings were located on the first, second or top floor.
In addition, the 77-square-meter small apartment special room will no longer be given a parking space.
"For 4 consecutive days, the sales department worked overtime until 8 or 9 o'clock every night, and the sales volume in a single day was around 60-80 sets, or even higher." He said that the afternoon of the 2nd, which is the day before the Qingming holiday, R & F New Town The starting price of existing homes in the H13 area for sale has dropped from 10,200 yuan/sqm to 8,500 yuan/sqm, and the supply has been expanded, with multiple units with a total height of 31 or 22 floors and a total of nearly 300 units. The listing is taken out and processed for liquidation.
A reporter from China Business News found that after the price cut, the prices of new houses in R&F New City were generally lower than the prices of second-hand houses in the same community.
According to the Anjuke APP, since April, the average price of second-hand houses in this community has been above 95 million yuan per square meter.
"House prices fell back to seven years ago." A sales agent said in the sales hall that around 2015, the unit price of existing homes in R&F New City was about 9,000 yuan per square meter, and the existing homes were listed for sale before the 2017 purchase restriction. The unit price rose to 25,000 yuan per square meter.
After the purchase restriction, the house price of R&F New City has been decreasing. From the end of 2019 to the beginning of 2020, the house price is about 14,000 yuan per square meter. Since the Spring Festival this year, the house price has dropped to 11,500 yuan per square meter.
After the launch of the special room, the housing prices were basically the same as in 2014 and 2015.
In response to the phenomenon of "knee-cutting" of housing prices in R&F New City, Hu Jinghui, chief economist of Jinghui Think Tank, said in an interview with a reporter from China Business News that this may be related to R&F Properties’ current tight capital chain and the “three red lines” of financial indicators. It is reported that the issue of bonds at high interest rates to reduce debt pressure is related, and has certain individual factors.
The sales manager of the aforementioned R&F New City also stated that the 12th and 15th districts of the R&F New City project have not yet been completed. The launch of special housing is also to return funds as soon as possible to ensure that the projects under construction can be delivered on schedule.
"However, according to the developer, the financing problem of the projects under construction has been resolved, and the subsequent housing prices of R&F New City may pick up." He said.
On the 5th, before the end of the Ching Ming holiday, R&F New City launched the last available house in H13 area-Building No. 7, with a height of 31 floors. The unit price has risen to about 10,200 yuan, but the remaining special houses were previously available. The source price remains unchanged.
"Overnight, the unit price of the same apartment type rose by nearly 1,700 yuan. This made me, who was still struggling with the bad floor of the remaining special room, but now I have to make a move." A Ms. Wang who signed the house purchase contract at the scene told me. China First Finance and Economics.
New house purchase restrictions have been loosened?
Ms. Wang said that although she worked in Tongzhou, she eventually chose to settle down in Xianghe due to household registration, housing prices and children's education, becoming a member of the cross-city commuter.
From a straight-line perspective, Xianghe is only 27 kilometers away from Lucheng, the core area of Tongzhou, which is about a 40-minute drive.
However, from the perspective of housing price levels, the property market in the two places is in a state of enthusiasm.
Data show that in March this year, the average price of new houses in Tongzhou was 55,407 yuan/square meter, while the average price of new houses in Xianghe was 10,508 yuan/square meter, less than 1/5 of the former.
The high housing prices discouraged a large number of "beijing drifters", and forced them to settle in the area around Beijing.
"About 80% of home buyers are working in Beijing." The sales manager of R&F New City told China Business News. Among them, the majority of people work in Tongzhou and Yizhuang, and there are also home buyers who work in Chaoyang.
In addition to the bargain-hunting factors for buying a house, Ms. Wang said that there are two reasons for the decision to make the move: one is the area around Beijing. Although the housing price in Xianghe is the lowest, the off-plan and small developers may have the risk of being unfinished. There are very few large-scale existing homes to choose from. Second, there is no official statement on the qualifications of buying a house in Beisan County, taking advantage of the fact that outsiders can actually apply for online visas and make loan purchases, and get on the car in time.
Regarding the qualifications of buying new houses, a reporter from China Business News asked a number of local intermediaries. They all said that the three counties around Beijing and North have now released restrictions on the purchase of new houses, and foreigners can purchase a commercial house with a loan. The down payment is 30%. The online sign-off procedure is It can be completed in about 20 working days, and there is no local social security requirement.
According to the 2017 purchase restriction regulations, in the area around Beijing including Beisan County, non-local residents who are able to provide the local social security certificate or tax certificate for three years or more are limited to the purchase of one house, and the paid tax certificate and social security certificate shall not be allowed. As a valid proof of purchase.
However, after "releasing restrictions on the purchase of new houses," different intermediaries have slightly different opinions on the requirements for home buyers' work location and academic qualifications.
An intermediary said that around April last year, foreigners who bought new houses in the local area could take the channel of talent introduction, that is, they needed to provide corresponding academic certificates.
But since October last year, buyers only need to provide a work certificate from Xianghe or Tongzhou, and there is no requirement for working years.
"All in all, there are no practical constraints for a foreigner to buy the first new house in Beisan County."
However, there is no official announcement of the "restrictions on the purchase of new houses".
On the afternoon of April 6, a reporter from China Business News sought verification from the Law Enforcement Brigade of the Langfang Housing Management Bureau, Hebei. The wiring staff said that they were not clear, and the relevant departments of the local people's government should be asked about the qualifications of Xianghe to buy houses.
Subsequently, the reporter called the Xianghe Housing and Urban-rural Construction Bureau many times, and as of press time, no response has been received.
At the sales office of R&F New City, the CBN reporter noticed that on the wall of the lobby, there was still a banner saying "Buy houses are limited to purchase". In this regard, a sales office staff member stated that this was from the previous Xianghe Housing Management Bureau. Unified requirements.
Author: Wu Simin