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a look at beijing's property market during the mid-autumn festival: the market is stable, and buyers are looking forward to more favorable policies

2024-09-18

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"the discounts are the biggest these days." at a new property sales center in the xihongmen section of daxing district, beijing, a salesperson listed the housing discounts during the mid-autumn festival for reporters on the floor plan. "with multiple discounts added up, the total price can be reduced by 10%. if you choose a fixed-price property, you can get another discount on this basis."

"golden september and silver october" is the traditional peak season for real estate sales, and the performance of the real estate market during the mid-autumn festival has attracted market attention. after extensive visits to beijing's new and second-hand housing markets, the reporter noticed that in terms of new homes, all new projects generally reduced prices during the mid-autumn festival for promotions; in addition, developers generally use "good house" features such as high house rate, fine decoration, and supporting clubs as the main selling points of real estate projects to attract buyers. in terms of second-hand housing, the market performance is relatively flat, and some buyers are still waiting and watching.

"all the agents and salesmen i know told me that there are big discounts during the mid-autumn festival and that there is more time during the holiday, so i came here to check out the properties." on the first day of the mid-autumn festival (september 15), a home buyer ms. li told reporters at a new property on sale in the xingong section of fengtai district, beijing.

there are many buyers who share the same mentality as ms. li. due to the holiday and the developers' aggressive promotions, the number of visitors to the many real estate projects visited by the reporter has increased compared to before the holiday. the salesperson of the real estate project mentioned above told the reporter that he had shown more than a dozen groups of customers on the morning of september 15 alone.

while offering discounts, quality, high-end and cost-effectiveness have also become the focus of publicity for each real estate project. the reporter noticed that highlights such as about 90% room rate, technological intelligent decoration, green buildings, supporting gardens and clubs are now common in each real estate project.

"on the one hand, developers are rushing to achieve performance in september, and on the other hand, the adjustment of second-hand housing prices in the surrounding area has brought certain pressure on new home sales." a salesperson who has been working as an agent in fengtai district, beijing for many years told reporters that the online signing price of new homes cannot be much lower than the registered price, and the price fluctuation space is smaller than that of second-hand homes in the same area. at present, all real estate projects tend to use the unique advantages of new homes such as high house ratio and high-quality supporting facilities as selling points, and highlight their cost-effectiveness by creating high-quality housing sources.

zhang bo, director of the 58 anjuke research institute, said in an interview with the securities daily reporter that the overall wait-and-see sentiment among home buyers during the mid-autumn festival holiday is still the main one, which has led to a significant increase in price reductions and promotions for new homes. in addition, real estate companies are still under pressure to perform well, and their financial demands to accelerate cash flow remain unabated. real estate companies will not only make effective concessions on housing prices, but will also pay more attention to their own products, which will be reflected in the fact that they will be "more aggressive" in polishing their products in order to better impress home buyers.

compared with the new home market, the second-hand home market in beijing performed relatively flat during the mid-autumn festival. a second-hand home agent in haidian district, beijing, told reporters that there was no significant increase in the number of viewings and transaction volume during the holiday.

"after various places introduced a series of real estate policies, it stimulated some people to buy second-hand houses in the city. after a round of demand release, the current market transactions will appear slightly flat, but some good houses are still recognized by the market." yan yuejin, deputy director of shanghai e-house real estate research institute, told the securities daily reporter.

"now we are looking at houses while waiting for policies." mr. bai, who plans to buy a second-hand house, told reporters that it is very important to compare the sources of houses when purchasing second-hand houses, and it is necessary to "cast a wide net" and look at several houses before making a decision. at the same time, he also hopes that more policies that can actually reduce the cost of buying a house will be introduced in the future.

zhang hongwei, founder of jingjian consulting, said that if policies are fully implemented, the property market may see a new round of market conditions in the fourth quarter, and transaction volume will increase.

regarding the performance of the property market in the fourth quarter of this year, zhang bo said that overall, the market performance in the fourth quarter will be better than that in the third quarter, and the transaction volume will increase to a certain extent month-on-month. the fourth quarter of each year is a relatively peak season for the market, and the increase in discounts by real estate companies at the end of the year to boost performance will drive the growth of market transaction volume. at the same time, various regions continue to exert their efforts in financial policies, which has a significant "catalytic" effect on groups with obvious intention to buy houses. the enthusiasm of the improvement group to enter the market is expected to be higher than that of the first-time buyers.

yan yuejin believes that under the influence of policy support and price adjustments, the property market will maintain a certain level of activity in the fourth quarter. in the future, local governments will continue to introduce real estate-related policies such as housing purchase subsidies, which will also play a positive role in further activating market transactions.