Sino-Singapore Jingwei, February 7th (Xue Yufei) "Pomegranate tree in the canopy fish tank, Mr. fat dog and fat girl", do you yearn to live in a courtyard?
With its scarcity, excellent location and rich cultural heritage, Beijing's courtyard houses and Shanghai's old houses occupy the top of the real estate industry in the two first-tier cities.
A set of courtyard houses can easily cost tens of millions or even hundreds of millions, limiting its customer base to a very small range, and it is also destined to be a niche in this market.
Tiemeng, who has been in contact with Siheyuan since 2009, thinks that she has not been in the business for a long time, but she has witnessed a period of rapid development in the market. .
Recently, Tie Meng told Sino-Singapore Jingwei the story of selling courtyard houses from the perspective of a real estate agent.
Twenty or thirty sets of transactions per year
The interior of Beijing Siheyuan.
Source: Photo courtesy of the interviewee
Siheyuan, as a traditional residence that best represents the regional characteristics of Beijing, are scattered in the Second Ring Road, and both Beijingers and foreign tourists regard it as an iconic symbol.
However, even if the Second Ring Road is not large, in the eyes of industry insiders, courtyards in different locations are still superior.
Tie Meng is the director of the high-end service department of Hongguan Real Estate. He said: "Beijing is centered on the Forbidden City and spreads all around. In the eyes of those who know it, the value of the courtyard is also centered on the Forbidden City, and the circle around the Forbidden City is the best. , and then the North City is better than the South City. Just from the location, the approximate order will be Nanchizi, Beichizi, Shichahai, Dongsi, Xisi, Dongdan, Xidan, Drum Tower, Qianmenwai.”
In his opinion, although there are many courtyards in the Second Ring Road, there are very few courtyards that can be listed for sale after the public housing, large courtyards, historically protected buildings, etc. are removed. "I estimate that there may be less than 200 courtyard houses, including large and small ones, that can be traded now. For a 1,000-square-meter courtyard, the stock can be counted with two hands, so the value of a large courtyard is also very high."
Even if it is listed for sale, there are many that cannot be traded. "For example, there are 300 houses in the system, and there may be 100 houses that cannot be transferred in the end." An important reason for not being able to trade is that the property rights are complicated.
"Many courtyard houses are handed down by the elders, and may be owned by three or five families. No one can get the full property rights of the yard. In order to prevent the property rights from becoming more complicated after the death of the elderly in the family, the yard will be sold and realized. If all the property owners agree, then it is good to say that as long as one family disagrees, the yard cannot be sold.”
Siheyuan residence.
Photo by Xue Yufei of China-Singapore Jingwei
Before the quadrangle is traded, it is also necessary to pay the land transfer fee based on the area of 16,000 yuan/square meter. Some owners do not have the ability to pay, and some do not want to pay. It depends on whether the customer is willing to pay in advance.
In addition, a yard is divided into several housing books, and according to Beijing's purchase restrictions, Beijing households are limited to two sets and non-Jing households are limited to one set, which directly blocks the transaction.
"I have dealt with a contract that was delayed for a long time. It was signed before the introduction of Beijing's purchase restriction policy in 2016. Later, the purchase was restricted, and the land transfer fee payment policy also changed. It took more than two years to complete." He said, The transaction cycle of courtyard houses is at least half a year, basically one year, and many transactions are delayed for three to five years.
Therefore, relatively large-scale intermediaries, such as Lianjia and I Love My Family, basically do not do quadrangle transactions. One of the reasons is that the transaction cycle is long, the procedures are cumbersome, and the relationship between property rights is complicated. It takes a lot of time to sell a quadrangle. Building up.
Only by being a broker of a courtyard house for a long time can you understand the various doorways inside.
There are no statistics on the trading volume of Siheyuan in the market. According to Tiemeng's estimates, before the introduction of the purchase restriction policy in 2016, there were about 60-70 sets of courtyard houses traded through intermediaries a year. After the purchase restriction, the annual transaction volume was about 20-30 sets.
Sino-Singapore Jingwei noticed that an intermediary recently released news on Douyin and other platforms that a large courtyard house was sold at a price of 2.1 billion yuan, and the deposit alone was 100 million yuan.
However, Tie Meng said that he had not heard of the news, and his credibility was not high. "Some transactions are not done through intermediaries. For example, the house is sold under the company's name and is sold by equity transfer. But in general, the yard with a value of over 100 million yuan. Only two or three sets are sold every year.”
A parking space can be worth 5 million
The hanging flower gate in the courtyard.
Source: Photo courtesy of the interviewee
Over the past few years, the price of courtyard houses has gone up.
Tie Meng said that when he entered the industry in 2009, the price of a set of courtyard houses was about 30,000 yuan per square meter in terms of floor space. about square meters.
He went on to say that the current unit price of courtyard houses is above 100,000 yuan per square meter, and courtyards with spacious hutongs, convenient parking, square-shaped courtyards, good orientation and high privacy will be more sought-after, and it is not uncommon for the unit price to reach 200,000 yuan per square meter. . However, since the implementation of the purchase restriction policy, the price of courtyard houses has basically remained unchanged.
But this price is for reference only.
Unlike residential quarters, the price of a courtyard can refer to the price of the same community and the same type of apartment. It does not have the concept of average price in the full sense, and the actual price is affected by many factors.
Contrary to the logic of building prices, the larger the area of the courtyard, the higher its unit price. For example, the price of a yard of one or two hundred square meters is 20 million yuan, but because the courtyard of three or four hundred square meters or even larger is relatively scarce. , the price will be much higher.
"In general, a courtyard house is not a standardized product. There are two sets of courtyards with the same area. The surrounding environment of the one at the east entrance of the Hutong is particularly clean, and the one at the west entrance of the Hutong is in tatters. The price is completely different." Tie Meng said.
Hutongs in Beijing's Second Ring Road.
Photo by Xue Yufei of China-Singapore Jingwei
As the capillary of traffic in the Second Ring Road, Hutong also connects most of the bungalows, courtyards and large courtyards. Therefore, whether the Hutongs can pass vehicles and whether there are parking spaces has become an important factor affecting the price of courtyards. He said: "Most of the courtyards can't park at the entrance, or the parking space is occupied by the old residents, then you can't say that the place in front of your house is your parking space. Therefore, a yard with a parking space may be better than no parking space. The parking space is 5 million yuan higher. As for whether the parking space is worth so much, it depends on the customer.”
He further stated that the customers who buy courtyard houses are by no means just in need. They must be people who have compared villas and high-end apartments and have a complex of courtyard houses. These people are willing to buy courtyards at their own psychological price rather than market price.
"Privacy is also a consideration. For example, there is a building next to the courtyard, and you can see the situation in the yard. The value of this kind of yard will naturally be discounted. Also, there is a public toilet next to it, which may also be disliked by customers." , Tiemeng said, the work they have to do is to make the advantages and disadvantages of the yard clear, so that customers can judge its value.
A niche market without a clear price and size will definitely be a stage for buyers and sellers to compete.
"Because there is no average market price, the owner must think that the higher the price, the better, so the price given at the beginning is very high, but after one or two years of precipitation, it is known that it can be sold in the market. How much. As for customers, at the beginning, they will have a rough idea, what can be bought with 50 million yuan or 60 million yuan, and it is only after a lot of searching that they know what the final result is.” He said.
"The rich people on the Hurun list have also received them"
"Pomegranate tree in the canopy fish tank, Mr. fat dog and fat girl" used to be a description of the life of Beijing Siheyuan, and in Tiemeng's view, customers who buy courtyards now also have this kind of complex.
"After having a certain economic foundation, these people still want to live in a bungalow, close the door by themselves, arrange some flowers and plants in the yard, and raise some fish, which is the pursuit of a leisurely life."
According to him, before the 2016 purchase restriction policy, many non-local home buyers came to Beijing to buy yards.
At that time, on the contrary, the local people in Beijing bought less.
After the purchase restriction, the purchasers are mainly those of Beijing's improved housing.
According to the regulations, whether you are buying a bungalow or a courtyard, you cannot take out a loan, you can only pay in full, which will significantly raise the threshold for purchasing a courtyard. After more than ten years of contact, Tiemeng has also met many wealthy customers, "The rich people on the Hurun list and customers with a company market value of over 100 billion yuan have also received customers, and everyone knows the names of some entrepreneurs. Of course, there are relatively few contacts with them. Usually, their subordinates come to see it. When the final decision is made, they come over in person. There are also some invisible rich people, and there are many people who spend 50 to 60 million yuan to buy yards. "
He said that some film and television stars will also consider buying courtyard houses, but there are not many. "One is that they may not be able to achieve economic strength, and the other is that there is no courtyard complex, so they prefer to live in villas."
The price of tens of millions of yuan for courtyard houses has kept many individuals and enterprises out of the door, which has also spawned a strong demand for courtyard leasing.
According to Tiemeng, after buying the courtyard house, about 30 to 40% of the owners will live in it, and the rest will either be used as high-end private clubs to receive friends and customers, or they will be rented out.
Interior view of the renovated courtyard.
Source: Photo courtesy of the interviewee
"On the market, the annual rent of a 200-square-meter courtyard house is about 800,000 yuan to 1 million yuan, the annual rent of a 400-500 square meter courtyard is 2 million yuan to 4 million yuan, and the annual rent of a thousand-square-meter courtyard can reach 700 yuan. Ten thousand yuan to eight million yuan, or even more.” As for tenants, he observed, “The rent for a smaller yard is tens of thousands of yuan per month, and families whose children go to school nearby will rent it to live. Previously, foreigners rented a lot more. More, but now it has become less affected by the epidemic. Larger yards may be used for corporate offices. Although the rent is more expensive than office buildings, working in courtyards can also demonstrate the company’s strength.”
As courtyard brokers serving high-end customers, they seem to be further away from money. Tie Meng said that if they sell a set of courtyard houses, their brokers can get 40% of the commission, plus commissions for leasing, decoration promotion and small bungalow sales. If they do well, they can earn an annual income of one million yuan. . "In a store, there may be one or two brokers who can do this."
However, due to the very long transaction cycle of courtyard houses, there is obviously a phenomenon of "not opening for a year, but opening for a year".
"Before the purchase restriction, the transaction volume of courtyard houses was relatively high, but now there are fewer. The brokers who can sell three or five sets a year (including cooperative transactions) are already very powerful. Moreover, to achieve this state, it takes five or six years of precipitation. You must have a certain awareness of the market, and you must also learn to communicate with these high-end customers, and subtly make them trust you.” (Sino-Singapore Jingwei APP)
All rights reserved by Sino-Singapore Jingwei. Without written authorization, no unit or individual may reproduce, extract or use in other ways.