China News Service, March 15 (China News reporter Zuo Yukun) On March 15, the National Bureau of Statistics released the sales price changes of commercial housing in 70 large and medium-sized cities in February 2024.
Data show that among 70 large and medium-sized cities in February, the month-on-month decline in commercial residential sales prices in all tiers of cities continued to narrow and continued to decline year-on-year.
Industry analysts believe that in this round of property market adjustment cycle, second-hand housing has begun to play an increasingly important role.
Boosting the second-hand housing market may become an important part of opening up the blockages in the housing transaction market.
Sales price index of new commercial housing in 70 large and medium-sized cities in February 2024.
Screenshot from the official website of the National Bureau of Statistics
Tianjin leads new housing market
In terms of new homes, data from the National Bureau of Statistics showed that in February, the sales price of newly built commercial housing in first-tier cities fell by 0.3% month-on-month, the same rate as the previous month.
Among them, Beijing, Guangzhou and Shenzhen decreased by 0.1%, 0.8% and 0.5% respectively, while Shanghai increased by 0.2%.
The sales price of newly built commercial residential buildings in second-tier cities fell by 0.3% month-on-month, and the decline narrowed by 0.1 percentage points from the previous month.
The sales price of newly built commercial housing in third-tier cities fell by 0.4% month-on-month, the same rate of decline as last month.
"February is the off-season of the Spring Festival, and attention to commercial housing transactions has declined, and buying and selling transactions are inactive. The sales office is on holiday, and we will wait for the spring to decide the marketing strategy and pursue a low-price and smooth-selling strategy." Li Yujia, chief researcher of the Guangdong Provincial Housing Policy Research Center explain.
"In February, various regions were generally oriented towards Spring Festival promotions, and prices dropped, which just shows that various regions grasped the market situation and supply and demand relations, and actively made adjustments and optimizations in price." Yan Yuejin, research director of E-House Research Institute, believes that as March With the active new home transaction market in various places, the number of cities with rising housing prices is likely to further increase. This is a critical period for home purchases to be more cost-effective and for real estate companies to take the initiative to offer profits.
The five cities with the largest month-on-month increases were Tianjin, Wuxi, Beihai, Xi'an and Shanghai.
Among them, the price rise in Tianjin, the leading city, has attracted much attention.
"This just shows that the current fluctuations in housing prices in various cities are cyclical, and that cities in my country have sufficient momentum for market recovery after cyclical adjustments." Yan Yuejin said.
Recently, Tianjin is actively adjusting its real estate policies.
On March 13, the Tianjin Housing Provident Fund Management Center announced on its website that starting from March 18, the down payment ratio for individual housing provident fund loans would be adjusted to no less than 20% for the first home and 30% for the second home.
In addition, housing purchase subsidies in many districts of Tianjin are also being launched one after another.
Second-hand housing sales price index in 70 large and medium-sized cities in February 2024.
Screenshot from the official website of the National Bureau of Statistics
Second-hand housing transaction cycle is long
In terms of second-hand housing, data from the National Bureau of Statistics showed that in February, the sales price of second-hand housing in first-tier cities fell by 0.8% month-on-month, and the decline narrowed 0.2 percentage points from the previous month. Among them, Beijing, Shanghai, Guangzhou, and Shenzhen dropped by 0.9%, 0.6%, and 0.6% respectively. 1.0% and 0.5%.
The sales price of second-hand housing in second-tier cities fell by 0.6% month-on-month, the same rate of decline as last month.
The sales price of second-hand housing in third-tier cities fell by 0.6% month-on-month, and the decline narrowed by 0.1 percentage point from the previous month.
"After the Spring Festival, the market enthusiasm has indeed increased significantly. On the one hand, the popularity of online house hunting on platforms such as Anjuke has increased significantly. On the other hand, the number of second-hand house listings in various places has also begun to increase significantly. However, the transaction cycle is still relatively long." 58 Anju Zhang Bo, president of the Institute of Technology, said.
Recently, the complete lifting of purchase restrictions on second-hand houses in Hangzhou has attracted market attention. More houses can now enjoy preferential tax policies, which will effectively reduce the burden of residential housing transactions and help facilitate second-hand housing transactions.
The precise regulation of second-hand housing is also considered to have a strong demonstration effect.
"Nowadays, second-hand housing is very important. To really start the real estate market, in addition to some well-funded buyers and buyers with very urgent needs, there are also some landlords who have second-hand housing." Yan Yuejin believes that second-hand housing sales The funds after the sale can leverage the new home subscription market, so boosting second-hand homes is an important part of opening up the blockage in the housing transaction market.
Regarding the future policy direction, Zhang Bo believes that the focus of first-tier cities will also be on the relaxation of purchase restrictions, especially the reduction of personal taxes and social security years, so that potential home-buying groups have the opportunity to enter the market; stimulating improved demand to enter the market will be a hot spot in second-tier cities The city's priorities include lowering down payments for second homes and lowering mortgage interest rates, especially for second homes, to lower home purchase thresholds and monthly payment costs to a greater extent.
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