Many places in China "limit prices" for second-hand housing, Shenzhen's second-hand housing prices shrink by 15% in half a year

  China News Service, Beijing, July 21 (Reporter Pang Wuji) Since Shenzhen proposed to establish a reference price for second-hand housing transactions in February this year, many cities have "limited prices" for local second-hand housing.

  A report issued by the E-House Real Estate Research Institute on the 21st pointed out that this year, Shenzhen, Ningbo, Chengdu and Xi'an have implemented a second-hand housing reference price system.

The reference price system was implemented, and second-hand housing prices were officially included in the regulatory system.

  For example, Chengdu proposed to establish a reference price for second-hand housing transactions. The first batch of 201 key communities in the main urban area will form a reference price based on transaction prices and market assessments.

Based on the online price of second-hand housing, Ningbo has eliminated abnormal and atypical transaction records and formed a reference price for second-hand housing transactions in hot school districts. The first batch of pilot projects released 9 hot school districts and 112 residential communities.

  Although some cities have not clearly established a reference price for second-hand housing transactions, they still regulate and control the prices of second-hand housing.

Since July 9th, Shanghai has implemented the price verification of second-hand houses, and the houses that have not passed the price verification shall not be released to the public.

After the implementation of the policy, tens of thousands of houses were temporarily removed from the shelves on intermediary websites such as Shanghai Lianjia.

In addition, cities such as Dongguan, Wuxi, Hangzhou, and Hefei have also taken down high-priced houses and issued relevant policies to rectify the chaos in the second-hand housing market.

  The analysis believes that the confusion of listed prices of second-hand housing prices, intermediaries bid up housing prices, some owners’ “increasing prices” and the overheating of second-hand housing prices are important reasons for the introduction of second-hand housing guidance prices in many places.

  The above report selects the housing price index of 70 large and medium-sized cities across the country for analysis to study the degree of cold and hot second-hand housing prices.

Statistics show that in June this year, among the 70 cities across the country, there were 25 cities where the second-hand housing price index increased by more than 5% year-on-year, which was in the "hot housing price" range.

Among them, the 10 hottest cities include Guangzhou, Xuzhou, Shanghai, Beijing, Ningbo, Shenzhen, Hangzhou, Yinchuan, Jinhua and Quanzhou.

  The policy effect is immediate.

Taking Shenzhen as an example, the report pointed out that in January this year, the price of second-hand housing in Shenzhen reached an all-time high, which was 72,436 yuan per square meter (RMB, the same below).

With the advancement of the reference price system for second-hand housing transactions, the decline or cooling of housing prices has become a trend.

By June, the price was 61,500 yuan per square meter, a cumulative drop of 10936 yuan per square meter, and the price had shrunk by 15%.

  Li Yujia, the chief researcher of the Guangdong Provincial Housing Policy Research Center, believes that the introduction of the second-hand housing reference price is an important step towards a more refined and systematic policy, bid farewell to the "headache" and move towards a long-term mechanism. In the past, the regulation of the property market has been concentrated in the field of new housing, and little attention has been paid to second-hand housing, mainly because there is no grasp. The formation of the reference price of second-hand housing has given a starting point for regulation and control. By controlling the listing price, the scale of bank mortgage loans can be further controlled. The stability of the second-hand housing market will also promote the stability of the new housing market. (Finish)

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