Half a year after the reform of Shanghai's senior high school entrance examination reform was implemented, the hype around housing in the Shanghai school district was stopped.
With the implementation of a series of policies, the housing volume and price of the school district are falling from high levels.
In August, Shanghai increased its property market regulation and control policies, and introduced a "three-price low" policy for second-hand housing loans, with immediate results.
In August, only 18,000 sets of second-hand residential properties were sold in Shanghai, a decrease of 24.3% from the previous month and 39.6% from the same period last year.
The school district housing that once led the rise in second-hand housing is no longer hot.
"I have witnessed the ups and downs of the property market. This time the situation is different from the past." Li Mao (pseudonym), a housing broker who has been in business for 8 years, said in an interview with The Paper (www.thepaper.cn) .
In Li Mao's view, under the background of "housing to live without speculation", and the continuous and intensive introduction of regulatory policies for the property market, the cycle of this round of cooling will become longer.
Housing prices in many mathematics districts have fallen, and the listing price of some houses has dropped by nearly 3 million yuan
"It has indeed fallen." On September 23, The Paper asked many brokers in Shanghai about the current housing prices in the Shanghai school district and got this answer.
"In my area, the price of housing with high-quality schools has dropped by almost 20%." Yin Song (pseudonym) is the business manager of a store in the Weifang section of Pacific Housing. The housing managed by his store basically comes with high-quality educational resources. The counterpart schools are Mingzhu A, Mingzhu B and Puming Normal School in Pudong, Shanghai.
These are all high-quality schools of the first echelon and second echelon of Pudong public primary schools.
However, Yin Song said, “Affected by the education reform policy in March and the principle of'three prices are low' in August, the price of this type of housing has fallen.” Take a two-bedroom 47 square meter housing as an example. Yin Song pointed out that from the end of December last year to the beginning of January this year, the total transaction price of houses in this area was just over 6 million yuan, and the current selling price was about 4.8 million yuan, a drop of about 20%.
"The current selling price is basically the same as last year's price. In October last year, a customer sold for 4.5 million yuan." Yin Song said.
In Pudong, the Meiyuan section is also an option for many parents to choose high-quality educational resources.
It is understood that the schools opposite to the second, third, and fourth neighborhoods of Meiyuan are Shanghai's first-tier Fushan Foreign Language Primary School and the West School of Jianping Middle School, which are called "double school districts"; the schools opposite to the fifth and sixth neighborhoods of Meiyuan are the city model parks. Bingchangtian Kindergarten, Fushan Foreign Language Primary School and Jianping Middle School West School are called the "Three School Districts".
It is precisely because of the obvious resource advantages of the counterpart school district that many home buyers who value educational resources are attracted to start.
However, from a price point of view, the school district housing prices in the Meiyuan section are also recovering from a high level.
The Paper saw from the Zhuge Fangfang APP platform that a 50-square-meter property in Meiyuan Sanjiefang was taken as an example. The property was quoted at 7.3 million yuan when it went on sale on June 24. The listing price was revised to 6.5 million yuan, and the price was reduced by 800,000 yuan.
The case of price cuts is not unique.
A 46-square-meter house in Meiyuan Sanjiefang was quoted at 8.5 million yuan when it was launched on March 12 this year. After several price cuts in March, May, and August, the current lowest price was 6.8 million. Yuan.
Another set of 48-square-meter housing faces the same situation. The housing was quoted at 8.35 million yuan when it was put on the shelves. After six price cuts, the lowest price of the housing is currently 6.25 million yuan, and the price drops are all over one million yuan.
The "three school districts" of Meiyuan Fifth Neighborhood are also unable to escape the fate of falling prices.
According to Zhuge's housing search data, a set of 57 square meters of housing was quoted at 10.5 million yuan when it was listed on May 4 this year, and after three price cuts, the current price is 8.1 million yuan.
Another set of houses with the same area was listed for 9.8 million yuan on March 21 this year. After five price changes, the current price is 8.15 million yuan.
Another set of 51 square meters of housing shows that the listing price reached 10.2 million yuan on March 12 this year. After five price cuts, the current price is 7.25 million yuan, which is nearly 3 million yuan less than the highest listing price.
A broker in the Meiyuan sector told The Paper that “it’s normal to list 10 million. During the peak period, the sales were good, and there were no more houses, so the price went up indiscriminately.” However, according to the broker, Mei The price of the 51-square-meter housing in Yuanwujiefang was about 6 million at the beginning of 2020, and the highest transaction price at the beginning of this year was about 8.8 million, and then the price began to fall.
In addition, according to the data released by Zhuge Finding a house, the listing price of Meiyuan 5th Street in September last year was about 122,984 yuan/square meter; the listing price reached the highest point of 170925 yuan/square meter in April this year; the listing price fell back to 136,138 yuan in August. /M².
In Yin Song’s view, “this part of the listings has risen a lot in the early stage, and the price correction is a normal property market fluctuation.” According to him, the listings with high-quality educational resources ushered in a surge in the second half of last year. It entered a period of accelerated growth around the month and rushed to the highest point at the beginning of this year, with some listings rising by 30%.
In March of this year, the introduction of the educational reform policy for the senior high school entrance examination caused some housing prices to fluctuate. Although there has not been a large-scale price reduction, the transaction volume has begun to fall.
Subsequently, after a series of policies were implemented, housing prices in the school district began to decline.
According to some brokers, at present, most of the listings have experienced a decline in prices, and some landlords who are not in a hurry to sell have not changed their prices or temporarily withdrew their listings.
"We have also encountered a situation where the landlord was unwilling to reduce the price and withdrew it, but after a few months, the price was reduced and listed."
Buyers have a strong wait-and-see mood, investors are gradually leaving the market
However, the price pullback did not attract many buyers to make decisions, but instead encouraged buyers' wait-and-see sentiment.
"The price has come down, but there are very few people who buy a house in the end. Many buyers have begun to wait and see after the implementation of various policies, and are not in a hurry to sell." An agent of the Weifang section of Lianjia Real Estate said.
Take a store in the Weifang section of Pudong, Shanghai as an example. According to the store’s agent, the store where it is located has been focusing on second-hand housing in the surrounding secondary school districts. Since March this year, the number of orders has decreased significantly, and many brokers have left their jobs one after another.
"Our store has two teams with a total of about 16 people. In recent months, basically two people will leave each month, and the turnover rate must be 10%."
The main reason is "no billing".
"The intermediary is a sales industry, and it should be based on performance. If you do not issue a bill, the salary will be based on the basic salary." said the store agent.
According to his introduction, the store had close to 30 transactions per month during the peak period of the property market, basically selling one set, but in recent months, it has been difficult to complete three transactions a month.
When The Paper visited the intermediary stores in the Weifang sector, they saw that there were only one or two brokers left in the intermediary stores.
The aforementioned Pacific Housing Weifang business director Yin Song said in an interview with The Paper (www.thepaper.cn), “Our main business is mainly second-hand housing, but it is affected by the education reform policy in March and the “three prices are low” in August. Under the influence of the principle, housing prices have dropped, and sales have plummeted. Some housing houses can only be sold if there are close to 30 groups."
The above-mentioned "educational reform policy" means that on March 16 this year, the Shanghai Municipal Education Commission announced the "Shanghai High School Enrollment Reform Implementation Measures." Assigned to all junior high schools in all districts of the city, this also means that the top public junior high schools and ordinary "caizhong" stand on the same starting line-in front of the quota allocation.
In other words, as long as the grades are among the best in ordinary "caizhong", there is a chance to go to a good high school.
On August 6th of this year, in order to reduce the leverage ratio and curb the inflated listing price, the Shanghai banks reviewed the loan amount with reference to the purchase and sale contract price, the transaction center verification price, and the bank appraisal price-in accordance with the principle of "three prices are low" As the housing price standard for loan application.
The details of Shanghai's property market policies are far more than that.
According to incomplete statistics from The Paper, since the beginning of this year, Shanghai has issued more than 10 new real estate policies to promote the steady and healthy development of the real estate market.
In the eyes of the broker, a series of policies have a clear goal. "The government's purpose is very clear, that is, to control housing prices. The previous wave of rising too much, to control housing prices."
On the other hand, due to the decline in housing prices, the proportion of investors continues to decrease. The Paper learned from the intermediary that most of the current buyers of houses are for self-occupation needs, and there are not many people who want to buy houses for investment.
The bank loan assessment amount is only 50% of the online signing price
In addition to the continuous implementation of policies that have changed the expectations of home buyers, the funding gap has also prevented some home buyers from moving forward.
A personal loan manager of Bank of China told The Paper that at present, banks have a long lending cycle, which usually takes 5 to 6 months.
In addition to the prolonged cycle, the bank's lending quota has also been shrinking.
"Currently, the bank's approved loan limit is basically set at a 50% to 20% discount. We have also encountered cases where a house cannot be successfully purchased due to a reduction in the loan limit." said an agent of Lianjia Real Estate.
The broker said, “A series of operations are mainly to slow down the transaction volume by restricting the loan line. After the transaction volume comes down, the price increase will slow down or even fall. But for the first set of home buyers, the loan line is reduced. At the same time, it means an increase in the amount of down payment. For first home buyers, the current down payment ratio is close to 50%."
Disputes over breach of contract caused by the reduction in the loan amount of home buyers also followed.
On September 9 this year, the Shanghai Real Estate Brokers Association released the "A Few Tips for Avoiding Transaction Disputes under the "Three Prices Are Low" Housing Loan New Deal", which mentioned the situation: a consumer signed a housing transaction on August 7 According to the contract, when applying for a mortgage afterwards, the bank's final loan limit was reduced from the estimated 5.45 million yuan to 2.68 million yuan.
The huge funding gap of 2.77 million yuan made it unable to continue to perform the contract, and it was more likely to face huge liquidated damages while losing the deposit.
Therefore, a complaint was filed on the grounds that the intermediary party did not inform the new housing loan policy and suffered huge economic losses.
"This situation began to be revealed a week after the'three prices are low' principle was implemented. After the contract was signed and the online signing was completed, there was a problem in the loan link." said an agent of Lianjia Real Estate.
In order to avoid the occurrence of such disputes as much as possible, the Shanghai Real Estate Brokers Association reminded that for buyers, they should fully understand the latest house purchase and related financial policies, and the key to their own house purchase qualifications and capital provision ability. If you have a good grasp of the factors, you must be fully prepared for the current situation that the estimated amount of bank loans may only be 50% of the online price.
Try to negotiate with the owner as much as possible to add a supplementary clause in the transaction contract that "because of loan restrictions, the performance of the contract cannot be continued, the two parties can terminate the contract peacefully without having to bear liquidated damages".
For replacement owners, it is recommended not to choose simultaneous transactions, in case the buyer cannot continue to perform due to loans and other reasons, which will affect the payment of the house purchase transaction and cause a series of defaults.
Try to wait for the funds to be sold to the account before starting the purchase transaction.
For the intermediary party, the Association reminded that before signing the contract, both parties should be fully informed of the latest real estate and financial-related policies, and the buyer should be reminded to confirm their own housing qualifications and funding capabilities, especially for the current bank loan assessment amount that may only be signed online. The purchaser should be clearly informed of the situation of 50% of the price.
It is best to be in written form and require both parties to the transaction to sign and confirm.
Once relevant disputes occur, they should actively coordinate to minimize economic losses for both parties.
The downturn of the Shanghai property market is just a microcosm of the real estate market.
According to data released by the National Bureau of Statistics, in August this year, with the continuous fermentation of the previous regulatory policies and the continuous tightening of credit, the number of cities in the country where new and second-hand housing rose in August continued to decrease, and fell to the lowest level in the year.
According to industry insiders, the property market will run at a low level for a period of time, and the accumulated bubbles will gradually be squeezed out. “When buyers do not consider investment for their own use, the market will be truly healthy.”
The Paper Journalist Ji Simin