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the first-tier city of guangzhou has further standardized the rules for publishing information on existing housing stock on the platform.

according to a notice issued by the guangzhou real estate agency association this afternoon, in accordance with the work arrangements of the competent authorities, in order to ensure the authenticity of existing housing stock information, guangzhou's various internet housing information service platforms will gradually optimize and adjust the platform's existing housing stock information release rules starting from september 23.

the latest rules include that real estate agencies that publish housing information on real estate internet platforms should be companies registered with the real estate administrative department, and the published sales information of existing housing should be accompanied by the housing code verified by the real estate administrative department's housing verification system (existing housing online signing system).

in addition, real estate agencies and their practitioners must obtain the written consent of the parties before publishing house rental and sales information. if the entrustment is terminated due to circumstances such as a transaction after the house rental and sales information is released, the parties withdraw the entrustment, or the entrustment period expires, the published information must be deleted immediately.

analysts pointed out that the above regulations recently issued by guangzhou have a lot to do with changes in the local market environment.

"this measure was introduced against the backdrop of continued market adjustments. as the number of second-hand housing sources increases and transaction volume decreases, the transaction cycle for second-hand housing has also lengthened accordingly. factors such as customers waiting and watching, buyers waiting for price cuts, and sellers unwilling to further reduce prices have led to a decrease in the number of transactions, making it difficult for real estate agencies to survive. in order to gain traffic and increase the probability of a transaction, some agencies may release false housing price information, or even low-price information, in order to attract customers. this leads to vicious competition among agencies, which may in turn fail to fully reflect the real changes in housing prices." said li yujia, chief researcher at the housing policy research center of the guangdong provincial institute of urban and rural planning.

on may 28, guangzhou issued a notice to further optimize guangzhou's real estate policy measures, including reducing down payments, reducing social security payment periods, loosening the first home identification standards, and exiting sales restrictions. in terms of sales restrictions, the notice shows that when households, enterprises, institutions, social organizations and other legal entities transfer or handle property division procedures for housing under their names, they will no longer review the time of obtaining the real estate certificate.

analysts pointed out that before this, guangzhou could only transfer the property after two years of obtaining the property certificate. however, the withdrawal of the sales restriction will also have an impact on market supply.

in li yujia's view, canceling the sales restriction is a "double-edged sword". on the one hand, this move is conducive to promoting the replacement demand of "sell one, buy one". on the other hand, it also increases the number of listings, leading to an increase in the supply of second-hand houses.

data from beike real estate shows that on may 28, the number of second-hand home listings in guangzhou increased by 875 units, reaching the highest value of the month, and the total number of listings reached 181,127 units.

"after guangzhou introduced new real estate policies at the end of may, the enthusiasm for house hunting increased significantly and second-hand housing transactions began to grow. however, the market heat subsequently cooled down," said zhang bo, director of the 58 anjuke research institute.

in terms of transaction volume, according to cric's monitoring data, the transaction volume of second-hand houses in guangzhou in august this year was 830,000 square meters, a decrease of 12% month-on-month and an increase of 2% year-on-year. in total, in the first eight months of this year, the transaction volume of second-hand houses in guangzhou was 6.35 million square meters, a decrease of 8% year-on-year.

industry insiders believe that against the backdrop of an increasing number of second-hand housing sources, guangzhou’s latest measures requiring intermediary agencies to verify the authenticity of housing sources are intended to fully reflect the true information of changes in market supply and demand by regulating market order.

li yujia said that some of the unverified listings may be mixed with fake listings, and the prices of these listings are likely to be fake, with the purpose of attracting customers. for listings with incomplete customer entrustment information, such as the lack of an electronic version of the real estate certificate, the authenticity of the listing cannot be verified. the reason for this may be that the customer is not willing to list the listing and is only listing it tentatively, or the listing does exist but is not listed with the agency. these situations may lead to confusion in market information, and these fake listings and false information will not accurately reflect market changes and expectations.

analysts said that verifying the authenticity of housing sources will further regulate the market order, which is essentially a manifestation of the transparency of information in the second-hand housing market and the authenticity and reliability of transaction participants and subject matter.

"the intention of guangzhou's latest policy is very clear, that is, through transparency and truthfulness, to let all market parties know the latest market situation, guide the market's reasonable expectations, and prevent false housing sources from disrupting the market. however, unlike new houses, second-hand houses do not have regulatory policies such as pre-sale approval and pricing approval. the second-hand housing market lacks regulatory grip. the release of false housing information has always existed, and institutions are not registered, and housing sources are not verified. these phenomena have been around for a long time. the crux of the problem is that through the latest measures, home buyers will clearly know that if institutions do not register and housing sources are not verified, there may be transaction risks. if buyers do not choose such institutions as agents or such housing sources, it will force institutions and practitioners to operate in a standardized manner. at the same time, some sellers worry that housing source verification may expose personal, family and asset information. whether the security of owner and property information can be ensured in terms of information confidentiality is also the key to whether the policy can be effective." li yujia added.

in the new home market, guangzhou's new commercial residential transactions in august this year were 510,000 square meters, down 24% from the previous month and up 6% from the previous year, and down 21% from the average monthly transaction volume in the second quarter. in the first eight months of this year, guangzhou's new home transactions were 4.38 million square meters, down 21% from the previous year.

in terms of sales, the average sales rate of projects launched in guangzhou in august was 8%, a decrease of 4 percentage points from the sales rate of 12% in july and a decrease of 1 percentage point from the sales rate in august 2023.