Author: Sun Mengfan
The light snow has passed, and the heavy snow is approaching, and real estate companies have also started the "involution" grabbing mode.
Recently, there have been endless news about various real estate price cuts and down payment installments, and real estate companies have exhausted their means to withdraw funds.
According to an interview with a reporter from China Business News, a leading real estate company in Tangshan has launched a "down payment in installments" campaign. Buyers who meet the 20% down payment requirement can buy a house with a down payment of 5%, and the remaining 15% will be paid in advance by real estate suppliers without interest. Buyers will make up for it before handing over the house.
In Guangzhou and other cities, the intensity of price cuts and promotions by real estate companies is equally astonishing.
There are projects with an average daily price of 70,000 yuan/square meter, and now there are special rooms as low as 58,000 yuan/square meter, and the unit price has dropped by 10,000 yuan.
There are also properties that sold for 33,000 yuan/square meter during the peak period last year, and recently launched special housing as low as 24,000 yuan/square meter, and the price reduction is not small.
A person from a leading real estate company told reporters that the current market conditions are still not very good. There are not many options for real estate companies to withdraw funds, and price reduction projects have emerged one after another, but it is hard to say whether the actual effect can be achieved.
Some people from Guangdong-based real estate companies also said that the company did not have any special marketing activities at the end of the year, and it is useless to cut prices now, and there is no way to rush.
Industry research institutions believe that although there are currently relatively strong financial policies to rescue the market, it will take some time for the property market to recover, and the current market problem lies in confidence.
Leading real estate companies are still actively rushing for acquisitions in the last two months. It is expected that there will be no fewer marketing activities, and they may seize the dividends of market recovery due to faster sales payments.
Down payment in installments emerge in endlessly
Recently, favorable real estate policies have been spread continuously, but the warmth has not yet spread to the first-tier real estate market.
According to data from Bank of China Securities, the transaction area of new houses in 43 cities from 11.12 to 11.18 was 2.634 million square meters, a month-on-month decrease of 1.6%, a year-on-year decrease of 50.7%, and a year-on-year decrease of 8.8 percentage points compared with last week; 10.2%, 16.1%, -35%, year-on-year growth rates were -23.9%, -33.3%, -58.8%.
Under the sluggish market conditions, real estate companies have tried their best to promote shipments, and "down payment in installments" is one of the methods.
According to a real estate person in Tangshan, at least four real estate companies in Tangshan have launched down payment installment activities recently, and many of them are TOP5 leading real estate companies.
"You can buy a house with a down payment of 5%, or 50,000 yuan. The remaining 15% down payment will be made up when the house is handed over in 2024, and then the monthly payment will be repaid normally. During this period, no interest will be generated. Real estate companies use this method to withdraw funds."
Tangshan World Union Bank also issued a document saying that the core of the above-mentioned low down payment strategy is: buyers need to do two "borrowing" behaviors, one is to make a mortgage loan with the bank normally; the other is that the supplier will sign a loan agreement with the buyer, and the down payment ratio Customers who meet the 20% criteria only need to pay 5% of the total house price when buying a house, and the other 15% will be paid in advance by the real estate supplier without interest.
According to the above-mentioned institutions, the property market in Tangshan has risen rapidly for two years since 2019, and the housing price in the urban area has risen from 10,000 yuan/square meter to 15,500 yuan/square meter. "When there is a slight change in regulation, it will be difficult for high housing prices to stand firm. If other projects follow up with promotions, the moisture in housing prices will be squeezed again.
In addition to Tangshan in the north, there are real estate companies "down payment installment" from East China to South China.
Poly Zhejiang official Weibo recently published an article saying that the company launched a "payment reduction action", which is different from the previous 30% down payment. The first payment only needs 5% to buy a house. 5% of the house payment will be paid on December 31, 2022, and the payment will be made up in 2023. 20% of the house payment, the specific time is subject to the case policy, and some projects "hand over the building first, then supply the building", focusing on "zero-risk home purchase".
Taking a house with a total price of 2.5 million as an example, a 5% initial payment is equivalent to a threshold of 125,000 to buy a house.
"Down payment loan" is expressly prohibited by the relevant laws and regulations of our country, but there is a gray space in the actual operation of "down payment installment". The key is whether it involves the buyer's loan from a financial institution to generate interest.
Li Yujia, chief researcher of the Housing Policy Research Center of the Guangdong Provincial Urban Planning Institute, said that down payment installments are not exactly the same as down payment loans. For example, 30% of the down payment is paid within one month or half a year. During the down payment in installments, if there is an act of connecting with a financial institution for financing, it is equivalent to a down payment loan.
A number of real estate professionals told reporters that down payment in installments is a common practice in the market, but the specific details are different.
Li Yujia believes that setting down payment ratio requirements is to measure the repayment ability of home buyers. If the corresponding down payment, monthly payment and turnover can be provided, subsequent mortgages can be guaranteed; if the down payment depends on financing, subsequent repayment pressure will be greater. It is very large, and the probability of default is relatively high, which is the key to the above-mentioned problem.
Yan Yuejin, Research Director of the Think Tank Center of E-House Research Institute, said that down payment installments are similar to down payment loans, but not exactly the same. The former can be initialed to lock the housing source and does not involve loans, while down payment loans involve loans and related procedures will also be completed .
The down payment loan is definitely illegal, but there is a gray area in the down payment installment. If you just lock the house and pay gradually, it can only be said that there are risks in buying and closing the house.
Leading real estate companies take the lead in "involution"
In order to rush to sell goods, the price cuts of major real estate companies are also not small.
A local real estate agent in Guangzhou said that now developers are generally making more efforts to make special housing in order to ship goods. For example, the CTS Tianchenfu project in Haizhu, the daily average price of this real estate is 69,000 yuan per square meter, and now the middle and high-level are doing activities , the unit price of some units is as low as 58,000 yuan per square meter, which is nearly 10,000 yuan lower than the daily price per square meter.
There is also a project of China Resources Land in Guangzhou, with an average daily reference price of 25,000 yuan/square meter, and a strong special price room has also been launched.
"The price of this market peak period was 33,000 yuan/square meter. Recently, there are special houses with 24,000 yuan/square meter. This year, the general environment is reducing prices, and the normal price is around 26,000 yuan/square meter." .
Crane’s recent research report also stated that real estate companies such as Poly, Longfor, China Overseas, and Vanke will increase discounts in the second half of the year and launch a fourth-quarter sprint.
Poly has a lot of marketing activities throughout the year. In addition to discounts, there are also nationwide marketing, down payment installments, property and parking fee discounts, etc., covering almost most of the marketing methods on the market, eliminating areas with high pressure, and decisively promoting and reducing sales. .
Crane said that in the fourth quarter, Longfor began to increase the speed of selling sales, and some high-quality projects in some markets also cut prices. The monthly average sales price decreased by 20% year-on-year, while the previous August and September increased by 1% and decreased by 4% year-on-year respectively.
As for Vanke, at the last two-month sprint meeting held in October, Vanke stated that it will strengthen the cooperation of various sales channels in a large number of cities across the country, such as Keike’s offline customer acquisition, Anjuke’s online diversion, various The region needs to mobilize its own channels and cooperation channels to tackle tough problems. The focus of marketing is not on discounts, but on finding customers and "grabbing them."
In addition to exhausting all their strengths, real estate companies in some places have begun to "huddle together to keep warm".
On the evening of November 22, the Hunan Provincial Real Estate Chamber of Commerce announced on its official Weibo that it is working with relevant member real estate companies to plan to jointly activate the real estate market in the cold winter of the real estate industry by way of "price specially approved by the president".
The chairman's special approval price means that the purchaser is given a special approval discount in addition to the marketing discount of the sales department of the real estate company, and can apply for all new projects in the province.
Statistics show that Hunan Provincial Real Estate Chamber of Commerce was established in 2006. Residential developers among its member units include Poly Development, China Merchants Shekou, Greentown China, China Communications Real Estate, Country Garden, Vanke, CIFI, Longfor and many other brand real estate companies; representatives of local state-owned enterprises Such as Xiangjiang Group, China Construction Xinhe, Changfang Group, etc.; and local private enterprises such as Dahan, Runhecheng, etc.
The chamber of commerce stated that the price of the "special approval by the president" will help real estate companies in three aspects: one is to lock in customers and promote sales; the other is to organize rescue efforts to deepen the relationship between the chamber of commerce and its members; For home buyers, it is the Chamber of Commerce's bailout behavior in a specific period.
From the perspective of the industry, the past high-turnover model created the industry's "standardization", under which the degree of product homogeneity is very high. In the case of a bad market, there seems to be no better way for various projects to break the situation except for price cuts. It is even difficult for marketing to dig out the core value points of its own project that are different from other projects.
Crane believes that in the face of the market downturn, leading real estate companies are increasing the supply of high-quality projects while launching more diversified marketing methods.
However, sometimes blindly lowering prices does not bring the expected results. The key is to expand the influence of enterprises and projects through marketing combination, promote project transformation, and decisively promote sales in the face of market changes.
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