Zhongxin Finance, March 2 (Zuo Yukun) "Fortunately, I heard news about the property market recently. It is good." Xiao Li, an intermediary in Beijing, told Zhongxin Finance.

　　Loose credit, rising volume and price... These long-lost keywords are returning to the property market. The warmer spring breeze is blowing through the property market, and the market transaction activity is rapidly increasing.

Data map: There are many buildings in the city.

Photo by China News Agency reporter Wang Dongming

Significant signs of recovery

　　"Our intermediaries have a common WeChat group, which was mainly used to send 'good sales news' before. In the second half of 2021, I feel that the group has been deserted a lot." Xiao Li said that since the start of construction after the year, the group's good news has been small. The range has increased, and everyone will also send some news about the relaxation of the property market in various places in the group, and the atmosphere of the entire group is obviously relaxed.

　　According to the statistics of new houses in Beijing Zhongyuan, from February 21 to February 27, 746 new commercial residential buildings were sold in Beijing, a slight increase of 3% from the previous week and a recovery for three consecutive weeks.

　　"After the new year, the pace has accelerated. There are not too many good houses, and it is difficult to find them." Recently, Beijing residents who plan to replace their houses this year clearly feel that "the New Year is not in a hurry, and there will be pressure after the new year."

　　"There are not many new high-quality housing listings in the market after the year, and only a few houses in the several communities concerned are listed at inflated prices, like returning to the period when buyers and sellers competed with each other last summer." The citizen told Sino-Singapore Caijing said that it feels that sellers are tentatively raising prices recently to see if there are buyers willing to take over.

　　"In fact, the prices of some popular areas in Haidian, Xicheng and other areas have already started to rise years ago, and the transaction prices of individual communities in the last week have even returned to the highest point in July and August last year." Xiao Li said that the transaction was on the rise. It is not obvious, mainly because the owners are reluctant to sell after the increase is expected, and they want to wait and see how the market will develop.

　　Different from previous years, local governments generally start the pace of regulation after March to drive the market to pick up. The spring of the property market in 2022 will come earlier than before.

　　In February, it became a watershed when it stopped falling and turned rising.

The price index of 100 cities in China's real estate index system shows that in February, the price of new houses in 100 cities ended a three-straight decline, up 0.03% month-on-month.

The price of second-hand housing ended the four-day losing streak, up 0.14% month-on-month.

Data map: Real estate properties under construction.

Photo by China News Agency reporter Zhang Bin

Mortgage interest rate cut

　　For the core reason for the current market recovery, Guo Yi, chief analyst of Heshuo, believes that this is mainly due to the relaxation of the entire credit policy.

In the big financial environment, the market has stepped out of the trend of recovery, which is also the result of the obvious positive improvement in market expectations.

　　In the near future, the biggest positive for the property market is the reduction in mortgage interest rates.

In January, the People's Bank of China lowered the one-year loan market quoted rate (LPR) again, and the five-year LPR was lowered for the first time in 20 months.

　　In February, the mainstream interest rates for housing loans in 87 of the 103 cities monitored by the Shell Research Institute were lowered month-on-month, an increase of 28 from the previous month, and there were no cities with an increase in interest rates.

　　Mortgage interest rates in 30 cities, including first-tier cities, were cut by 5 basis points with the LPR.

Mortgage interest rates in Beijing and Shanghai have dropped for the first time since mid-2020, and there is more room for interest rate cuts.

Since February 21, the six major banks of Industrial and Commercial Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, and Postal Savings Bank have collectively lowered the mortgage interest rates in Guangzhou.

　　A staff member of the credit department of a commercial bank in Beijing told Zhongxin Finance that the bank lowered the loan interest rate in accordance with the changes in the LPR, and the "additional point" has not changed. Since late January, the minimum interest rate for the first loan of a new house is 5.15%.

Compared with the reduction in interest rates, what brings home buyers a more intuitive feeling is the significant increase in the speed of lending.

　　"The current housing loan in Beijing, the fastest one or two days after the face-to-face signing, the loan can be approved in three days. The loan I handle is basically more than a week, and the slowest is no more than half a month." Xiao Li said that last year Lending in the second half of the year will have to wait at least 3-6 months.

A property in Beijing.

Photo by Zuo Yukun of China News Service

The down payment ratio is loose

　　"If you don't have 10% of the down payment, you can make a down payment loan, that is, zero down payment." Developers who are immersed in the fierce competition have made it possible for Huizhou in Guangdong, Chenzhou in Hunan and other places to reproduce the "zero down payment" after many years. Down payment to buy a house” is a big trick.

　　Although some experts have reminded that "zero down payment" is essentially a "down payment loan" that is illegal and leveraged by the main buyers of houses, it is a gimmick of individual housing companies.

But "reducing the down payment" is a real action in many cities.

　　According to data from Centaline Property, as of recently, more than ten cities across the country have issued policies to reduce down payment with different contents in 2022.

Heze, Chongqing, Ganzhou, Foshan and other places mentioned or partially mentioned the adjustment of commercial loan down payment, Beihai, Zigong, Nanning, Fuzhou and other cities mentioned the change of provident fund down payment, that is, home buyers can "get on the bus with less down payment" ".

　　"Compared with easing policies such as attracting talents and reducing or exempting house purchase deed tax, the easing of credit policies will have a greater impact on the real estate market." Zhang Dawei, chief analyst of Centaline Real Estate, said that the reduction of mortgage interest rates and the reduction of down payment ratio in the current easing policy will be obvious. Lowering the threshold for home buyers to enter the market is expected to bring the property market out of its trough, and the gradual recovery of the market has become a new trend.

　　Guosheng Securities predicts that the property market is expected to stabilize at a low level and gradually recover in the second quarter, and the strength of the recovery depends on the overall easing of policies.

　　Zhang Dawei also believes that with the continued easing of credit policies, the market is likely to have a "little spring" in March-April, especially in first- and second-tier cities.

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