The Paper reporter Pang Jingtao
Existing home sales are getting louder.
Recently, land for sale in Jinan City, Shandong Province, Yongtai County, Fuzhou City, Fujian Province and other places have appeared for sale of existing houses, arousing the attention of the industry and home buyers.
Existing house sales terms appear again. Will it gradually become a regular term in land bidding, and what are the signal meanings?
During the interview with The Paper, it was found that even without the terms and conditions, some small real estate companies that had not participated in high turnover before began to take the initiative to "sell existing houses". For them, who had no advantage in competition with large real estate developers, "Selling a solid" has become an alternative way of survival.
Existing Home Sales Plots Reappear
On August 1, the second batch of centralized land supply in Jinan entered the formal trading session.
The two residential plots attracted many real estate companies to participate in the bidding. After triggering the maximum price set by the government, they entered the link of "limiting land price to compete for building quality and construction progress".
In the end, the two plots were traded at the price of "residential Samsung green building plus capping for pre-sale permission".
According to the Jinan Times, this is the first time that Jinan has sold existing houses after the "fuse" since the implementation of the maximum price limit policy for land auctions in August 2017.
Taking the site of the Municipal Party School to the north of Tourism Road and south of Yuling Mountain as an example, the starting price of the site is 281.99 million yuan, the plot ratio is 1.4, the starting floor price is 6,607 yuan/square meter, and the maximum price is 324 million yuan, and the floor price when the ceiling price is reached is 7591 yuan/square meter.
According to reports from Qilu Yidian and Jinan Times, the plot attracted 8 real estate companies to bid, and most of the participating companies were local development companies such as Jinan and Jining, and only 1 domestic brand company participated.
Jinan Times said that on the whole, the area of this land is not large, and the required capital threshold is not high. In addition, the location is good and the floor area ratio is low, so it has attracted many real estate companies to sign up.
In fact, this isn't the first site for existing home sales to appear in recent times.
Previously, on July 15, the Natural Resources and Planning Bureau of Yongtai County, Fuzhou City, Fujian Province mentioned in the announcement on the transfer of the right to use a piece of commercial and residential land: the land will be implemented according to the sale of existing houses. Only the winner can apply for the house sale procedure.
According to the transfer requirements, the transfer requirement after the house is listed and traded is that after obtaining the existing house sales license, the purchaser of the house who purchased the commercial house within five years (including five years) shall not be listed for transfer. , and shall not go through procedures such as notarization of transfer.
As early as 2018, Zhongshan City, Guangdong Province launched more than ten residential and residential complexes, all requiring "existing commercial housing sales", that is, requiring developers to directly sell commercial housing that has been completed for sale with complete documents.
Earlier, Suzhou proposed in the land transfer conditions in 2016: if the land transfer price exceeds the market guide price (excluding the market guide price), the pre-sale license can be applied after the project structure is capped; the land transfer price exceeds the market guide price by 10%. % (excluding 10%), the pre-sale license can be applied for after the project is completed and accepted, but this policy will be cancelled after 42 months of implementation.
Small developers take a different approach: take the initiative to sell existing homes and seize the market
The sporadic appearance of land for sale of existing houses has triggered discussions and reflections on the pre-sale system in the market.
For most real estate companies, existing home sales are a "flood beast".
A number of real estate executives said that this move will aggravate the financial pressure of real estate companies, affect the level of market supply and even push up housing prices.
But judging by the current home sales, developers still appear to be profitable.
Qilu Yidian reported that, compared with the initial price ceiling when Jinan launched the highest price in 2017, competition for construction, quality and construction progress will also increase the construction cost of developers, but industry insiders believe that this condition is still In line with the current demand of the property market, it is also profitable in itself from the degree of popularity of the plot.
In the cracks of the siege of large real estate enterprises, some people actively choose to sell existing houses to highlight the siege.
Tang Shengsan, the owner of a small real estate company with only single-digit projects in his hands, found life in the property market of fourth-tier cities - selling existing houses in the pile of unfinished buildings.
Tang Shengsan introduced that he was in a fourth-tier city in the Yangtze River Delta. He had developed a real estate in the city before, and the sales were very good, but when the market was good, everyone sold well.
Today, with the liquidity problems of Sunac, Zhengrong, Shimao and other real estate companies, the off-plan projects of these companies are facing shortage of money and shutdown, and home buyers are anxious.
The confidence of home buyers is low, and those who need to buy a house are also hesitant. Tang Shengsan's original project has ended. In order to save the team, he purchased a residential project from a real estate company with financial problems.
"I think about it, I'll develop it with my own funds, do it slowly, don't dare to use leverage, and build houses honestly and step by step, using only development loans, and then build existing houses and sell them," Tang Shengsan said, "We It is also possible to develop off-plan houses, but the off-plan houses of big real estate companies have problems, and we have no advantage, and no one will buy them.
The formation of the buyer's market has forced the emergence of existing houses.
Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, believes that the sale of existing houses is known when the land is acquired, and real estate companies will consider cost and sales issues in advance.
Shao Minghao, a real estate professional from Shanghai Urban Real Estate Appraisal Co., Ltd., said that the past 20 years belonged to the golden age of real estate, mainly due to the mismatch between market supply and demand, which led to the strong position of the supply side.
However, the current market, especially the market situation in third- and fourth-tier cities, has undergone major changes, and the original pre-sale system has faced some challenges. The implementation of the existing housing system is also an inevitable result of the market change.
Shao Minghao believes that developers' willingness to sell existing homes is also the result of a game of supply and demand in the market.
Especially in third- and fourth-tier cities, due to the unstable sales of surrounding projects, especially off-plan houses, the confidence of home buyers is lacking. At this time, developers promote the sales of existing homes in a timely manner, which is conducive to cultivating market confidence and helping home buyers to improve their expectations.
Will existing homes become the current trend?
Affected by factors such as a lot of land and unfinished projects, buyers' confidence in off-plan houses is waning.
A number of senior experts in the real estate field and executives of real estate companies said that it is difficult and difficult to promote the sales of existing houses at present, and there are many obstacles.
Although experts believe that existing home sales are a trend and will appear more, they also admit that the current implementation is not appropriate, and it is limited to pilot projects in individual cities and plots.
Shao Minghao said that the sales of the entire real estate market are not ideal, which is an important reason for the sales of existing houses.
Especially in some third- and fourth-tier cities, due to the large supply of land in the early stage, the recent market performance has been sluggish, resulting in many unfinished houses, thus promoting the phenomenon of existing house sales.
Existing home sales in these cities can help restore homebuyer confidence and reduce the risk of buying a home.
Yan Yuejin believes that from the perspective of the long-term mechanism of real estate, the sales of existing houses should be considered, but in terms of the current real estate market situation, sales are not smooth, and the overall financial pressure of real estate enterprises is relatively large. Considering this level It is not yet suitable for large-scale promotion, and even promotion will be difficult.
Zhao Xiuchi, a professor at Capital University of Economics and Business and vice president and secretary-general of the Beijing Real Estate Law Society, said that in the future, more cities may follow the example of existing home sales.
On the one hand, the sale of existing houses can avoid the unforeseen handover problems of pre-sale;
Generally, when the market is in short supply and housing prices continue to rise, there will be more pre-sale houses; when the housing becomes more abundant, there will be more houses for sale.
However, Zhao Xiuchi also said that the sales of existing houses have a great impact on developers. At this stage, the overall funds are not abundant or even stretched, and the implementation of current sales will make things worse. I hope that local governments will carefully arrange the current sales plots according to the actual situation.
For example, it is set in some land bidding conditions, and real estate companies can choose according to their wishes, forcibly promote or pass in auctions.
Regarding the transmission effect of existing home sales, Shao Minghao said frankly that it is difficult to have active existing home sales in cities with relatively good market sales such as first-tier and strong second-tier cities. This kind of transmission is mainly transmitted to cities with relatively sufficient supply.
(At the request of the interviewee, Tang Shengsan is a pseudonym)