news

한어Русский языкEnglishFrançaisIndonesianSanskrit日本語DeutschPortuguêsΕλληνικάespañolItalianoSuomalainenLatina

After the "6.26" new policy, low-priced housing sources in Beijing began to become active. A recent investigation by Beijing Business Daily reporters found that with the implementation of Beijing's "6.26" new policy, the policy effect has already been shown: although the transaction growth rate of second-hand houses with a total price of more than 8 million yuan, that is, improved housing sources, has not changed significantly, the transaction volume of second-hand houses with a total price of less than 5 million yuan, especially houses with a price of 2 million to 3 million yuan, which are commonly known as "old, broken and small", has increased significantly. "The most obvious change is that the price space for several 'old, broken and small' houses sold recently has gradually narrowed." More than one real estate agent gave such a trend judgment to the reporter. As the market gradually stabilizes, the confidence of home buyers is gradually increasing, and buyers with just-needed needs are beginning to dare to make a move. The low total price, good supporting facilities and good location of "old, broken and small" houses just provide them with an opportunity to buy.

The bargaining space is shrinking

"Old, broken and small" houses used to stand out in the Beijing market. They either had low total prices and low thresholds, making them the first choice of new Beijingers and satisfying their desire to find a place to settle down; or they were surrounded by key educational resources, so parents could invest in a future for their children at the lowest cost.

"In June 2023, the 'old, dilapidated and small' houses in our area could be sold for up to 100,000 yuan per square meter. However, after that, the prices showed a continuous downward trend. By the beginning of 2024, the prices of these houses had fallen to 70,000 yuan per square meter. Even with such low prices, it is difficult to attract buyers to buy them." Li Jian (pseudonym), a broker in the Tianning Temple area of ​​a leading real estate agency in Beijing, told the Beijing Business Daily reporter.

On the other side of the game, the sellers have also been suffering for a long time. In their words, choosing to give up listing for sale seems to be their last act of perseverance under market pressure. Many second-hand house owners who own "old, dilapidated and small" houses told the Beijing Business Daily reporter that it is normal for them to have few showings after listing for half a year. The price has been reduced, but there are still very few buyers. The real estate agent asked them to sell the house at a "big discount", but the price after the price reduction is far from their inner expectations and they cannot accept such a gap.

On June 26, the long-awaited new policy for Beijing's real estate market finally came into effect. The minimum down payment ratio was lowered to 20%, the commercial loan term of more than 5 years was reduced to 3.5%, and the second home loan for families with multiple children in Beijing was considered the first home... The wait-and-see mood of home buyers was alleviated.

"The most obvious change is that the price space for several 'old, dilapidated and small' properties sold recently has gradually narrowed." Wang Shang, a leading real estate agent in Huaibai District, Xicheng District, Beijing, said that Huaibai District is located in the second ring road of Beijing. Due to factors such as high unit prices, old buildings and poor community environment, sales in the past period of time were not good, and there were not many customers consulting. However, with the reduction of down payment ratios and the reduction of mortgage interest rates, buyers who had previously been on the sidelines entered the market, supply and demand changed, and the price of some properties rebounded.

Wang Qiang, another broker in the Tianning Temple area, also agreed with this change. Wang Qiang said that before the "6.26" new policy, the price reductions of the "old, dilapidated and small" houses that were successfully signed were relatively large. For example, a 70-square-meter house with an original price of 7 million yuan would have to be reduced by an average of 1.2 million to 1.5 million yuan in order to be successfully sold. This is based on the fact that the listing price has already been adjusted once. In terms of price range, the average price has dropped from 100,000 yuan/square meter to about 78,000 yuan/square meter, a drop of 22%. The price reductions for houses with poor layouts and orientations are even greater. "With the implementation of the new policy, the price reductions of several houses that have been successfully signed recently have been compressed to around 900,000 yuan. If it was before the new policy, it would have been difficult to sell it."

Second-hand houses worth two to three million yuan are the first to recover

A Beijing Business Daily reporter recently found that with the implementation of Beijing's "6.26" new policy, the policy effect has already emerged. The transaction growth rate of second-hand houses with a total price of more than 8 million yuan has not changed significantly, but the transaction volume of second-hand houses with a total price of less than 5 million yuan, especially second-hand houses with a total price of 2 million to 3 million yuan, which are commonly known as "old, broken and small" houses, has increased significantly.

According to many frontline real estate agents, the listing price of many "old, dilapidated and small" second-hand houses has dropped by 20% compared to a year ago, and more than 80% of the houses are sold at 10% off the listing price. The market has indeed shown some signs of bottoming out. "The low total price means low costs, so it is not uncommon for buyers to 'buy at the bottom'."

In addition, after the new policy was implemented, the market gradually stabilized, and the confidence of home buyers gradually increased. Buyers with urgent needs began to dare to take action, and the low total price of "old, broken and small" houses provided them with the opportunity to buy.

The recovery of second-hand houses of "old, dilapidated and small" cannot be avoided without differentiation. From the trend point of view, "old, dilapidated and small" has rebounded under the impetus of the whole market, but according to the investigation of Beijing Business Daily reporters, the second-hand housing market outside the Fifth Ring Road is still dominated by improved large-sized houses, and the recovery of "old, dilapidated and small" is also concentrated in the central area.

When asked about which type of housing sources are the most popular, Ge Bin, a top real estate agent in Beijing located in the Bajiao area, told the Beijing Business Daily that the Bajiao area is located outside the Fifth Ring Road and is inferior to the city center in terms of transportation and educational resources. There are also customers who have just purchased houses and inquire about "old, dilapidated and small" houses, most of whom work in Shijingshan. However, compared with the number of customers who need to improve their housing, the number is still relatively small, and the change is not very obvious.

The market changes from the local to the whole, and then from the whole to the local. According to the changes in the sales prices of commercial housing in 70 large and medium-sized cities in June 2024 released by the National Bureau of Statistics, Beijing's second-hand housing prices have risen for the first time this year, with a month-on-month increase of 0.2%.

On May 17, the People's Bank of China and the State Administration of Financial Supervision issued three policies in succession, announcing a reduction in the down payment ratio for loans, with the down payment ratio for the first home not less than 15%, and the down payment ratio for the second home not less than 25%; the cancellation of the lower limit of mortgage interest rates; and a reduction in the interest rate on personal housing provident fund loans by 0.25 percentage points.

Since the release of the "May 17" new policy by the central bank, the second-hand housing market has continued to pick up, and the transaction volume of second-hand housing has gradually increased. In May and June, the number of second-hand housing online signings in Beijing reached 13,383 and 14,987 respectively, and returned to the "prosperity and decline line", showing a steady growth trend. As of July 21, the number of second-hand residential housing online signings in Beijing was 9,835, an increase of 13% compared with 8,707 in the same period of June.

The value of “old, broken and small”

For a long time in the past, "old, dilapidated and small" houses have been criticized for their aging structures and poor community environment. However, with the adjustment of the second-hand housing market and the optimization of real estate policies, the advantage of low total prices of "old, dilapidated and small" houses has been magnified again. "Although they are old, they are often located in the core areas of the city, with convenient transportation and complete living facilities. Such geographical advantages are unmatched by many new houses." Li Jian said.

Wang Shang gave an example, saying that the Huaibai area is a typical representative. In this area, residents can conveniently choose three lines of Metro Line 1, Line 2 and Line 7 to achieve fast travel. At the same time, the surrounding education and medical resources are complete, supplemented by numerous supermarkets and restaurants, which are sufficient to meet the various needs of residents' daily life. During the booming property market, the average price of the Huaibai area was as high as 100,000 yuan/square meter, which discouraged many rigid-need customers. However, with the adjustment of the market, the current unit price has generally dropped by 20,000 to 30,000 yuan, entering a more reasonable price range, and the downward trend has slowed down. This undoubtedly enhances the willingness of rigid-need customers who are concerned about their children's education and medical facilities to buy houses.

For office workers who have worked for many years and have a certain amount of savings, "old, broken and small" is undoubtedly an attractive choice. According to Liu Ran, a leading real estate agent in Panjiayuan area of ​​Chaoyang District, Beijing, Panjiayuan area has become the first choice for white-collar workers working in Guomao to buy houses. With the convenience of Panjiayuan Station on Metro Line 10, it only takes 15 minutes to reach Guomao, which greatly saves commuting time. At present, the housing prices here are also quite affordable. For example, a small apartment with one bedroom and one living room of 40 square meters has a total price of only 1.62 million yuan, and the unit price is less than 40,000 yuan. For young people who want to make a stable transition in Beijing, it is a good choice.

However, some second-hand real estate agents have reservations about this. Li Liang (pseudonym), a leading real estate agent in Beijing's Shilihe area, said that due to the age of the buildings, the water and electricity lines, drainage systems, heating facilities, etc. of these "old, broken and small" properties may have been seriously aged, causing many inconveniences for subsequent decoration and use. Especially for families with many children, a small two-bedroom apartment of 60 square meters may need to be moved again in the future as the children grow up. Therefore, when purchasing "old, broken and small" properties, buyers need to fully consider their future needs and make long-term plans.