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hangzhou real estate market daily economic news data map

the asian games village is on the list of second-hand housing sectors that can make the hangzhou real estate agency community "excited".

since greentown crown oriental started to deliver nearly 2,700 residential units in batches in june, "asian games village has been officially listed" has become a hot topic in hangzhou's second-hand housing market. on june 21, 744 units of vanke sun city were also delivered. on september 20, according to the official microblog of "china resources land hangzhou", buildings 2, 3, 6, 7 and 10 in the southern area of ​​asian games city will be officially delivered.

greentown crown oriental, vanke sun city, and china resources asia olympic city are the "asian games village three" with extremely high real estate market in hangzhou. during the just-passed mid-autumn festival, the second-hand houses of greentown crown oriental and vanke sun city, which were delivered first, also ushered in a wave of house viewing and transaction enthusiasm.

according to lianjia, greentown crown oriental has been shown 18,909 times in the past 30 days, with 510 units on sale and 25 units sold in the past 90 days; vanke sun city has been shown 4,777 times in the past 30 days, with 154 units on sale and 32 units sold in the past 90 days.

image source: lianjia

however, behind this is the huge supply and the bitter tears of investors selling.

at present, the residential part of asia-olympic city has not yet been officially delivered, but the transaction price of the block has been declining from 70,000 yuan/square meter. the lowest unit transaction price is even less than 40,000 yuan/square meter, which is "broken" compared with the average opening price of 47,000 yuan/square meter.

"the property market began to cool down in august 2021, and the turning point has already appeared. at that time, people who bought houses through lottery in hangzhou were actually buying at high prices." yan yuejin, deputy director of shanghai e-house real estate research institute, pointed out in an interview with the "daily economic news" reporter, "this is somewhat similar to the luxury home craze in shanghai this year. if you have an investment mentality that buying is making money, you may face the same problem in the future."

"the owner is in a hurry to sell"

the two brothers who were the first to deliver the properties in the asian games village staged a "speed race" in selling the properties.

"after all, the price has risen from 18,000 yuan per square meter, and there are a lot of floating profit chips. if you don't sell, there are plenty of people who will. if you don't sell this plate, there are others who will sell it. if you don't sell this sector, there are others who will sell it... how far do you think you can hold on? basically, the first step is enough." a netizen said on the social platform.

in this race, sun city was the fastest to obtain the property certificate, so the landlord was also the first to list the property for sale. many real estate agents in the asian games village area posted transaction information in real time on wechat moments. one transaction record showed that as of july 7, 22 units of sun city had been sold, and the price difference was also very large.

source: intermediary friends circle

xiao tang (pseudonym), a real estate agent at hangzhou deyou real estate, told the daily economic news reporter: "at present, the prices of houses in sunshine city that are located in the waterfront area and have better orientations are relatively high, ranging from about 58,000 to 60,000 yuan per square meter."

the larger crown oriental, on the other hand, is a step slower in the second-hand market, as landlords are competing with each other and lowering prices to sell their products.

"in the building closest to the high-speed rail, a second-floor unit was sold for 39,800 yuan per square meter, but there were also units sold for nearly 60,000 yuan per square meter during the same period."

xiao tang said that the prices of new houses purchased at the beginning were actually not much different. the closer the house was to the high-speed rail, the easier it was to "break even". some people even bought houses together, which is what everyone calls "pinduoduo". coupled with the delayed delivery of houses and high capital costs, some people could not bear it.

on june 13, greentown crown oriental was delivered. metropolis express reported that the real estate agent told potential buyers: "don't rush to buy a house. many people pooled their money to participate in the asian games village lottery. after waiting for so many years, many people will sell out under the current market conditions."

for example, according to the information on the shell platform, the owner who listed the property a month ago directly wrote the words "urgent sale".

in fact, the pressure of selling off the asian games village has not been completely released. after all, there are still nearly 1,500 houses in china resources asian olympic city that have not been delivered. if the listing ratio is the same as that of crown oriental and sun city, the "price for volume" will be more thorough.

"the current price may not be the bottom. this is something home buyers should pay attention to," yan yuejin reminded.

there is no sign of house prices stopping falling

when talking about the "three sons of the asian games village", many hangzhou people would emphasize their recognition of their quality.

a landlord in hangzhou revealed to the reporter from the china business network that "pinduoduo-style" investors with high interest rates and high leverage are obviously more willing to sell their properties. another part of the landlords have decided not to sell their properties for the time being under this bargain-hunting market, and will first list them for rent, and the rental level is also quite good.

yan yuejin pointed out in an interview with a reporter from china business network: "it is difficult for investors to withdraw, not because the houses are bad, but because the supply is too large."

xiao tang's daily experience is more intuitive. he told the reporter from the china business network that although the listed rent looks high, it is also difficult to rent.

a reporter from the china business network saw on the lianjia platform that there are currently 64 units for rent in sun city and 133 units for rent in crown east.

"first, there are many houses in the asian games village. second, although the rent is high, it is still less competitive than the century city area. if the target tenants consider the distance to their workplace, they can also rent a house in century city." xiao tang said frankly.

will the trend of sub-new houses “breaking the issue price” continue to spread? this depends on the source of land supply.

this year's huge supply will be pushed back to the new housing launch boom in 2021.

according to statistics from china index academy at the time, a total of 16,573 commercial residential units were put on the market in the ten districts of hangzhou (including lin'an and fuyang) in august of that year, and there were 17 pure new projects launched, reaching the peak number of pure new projects launched that year. pure new projects supplied 6,213 units, accounting for about 40% of the total number of units put on the market. the supply of commercial residential units was concentrated in the popular areas of xiaoshan and yuhang, especially the "three sons of the asian games village" in xiaoshan, which were favored by home buyers when they first opened.

compared with 2023, when hangzhou city-wide residential land transfer fees amounted to 180.3 billion yuan (the urban area received 178 billion yuan), in the first half of 2024, hangzhou residential land transfer fees amounted to 59.1 billion yuan. the supply side has been greatly reduced, and the intuitive feeling is that the supply of new houses has decreased by the same proportion and the premium rate of popular plots has increased. in the medium and long term, the supply of second-hand houses in hangzhou will also shrink by the same proportion in 2 to 3 years.

but in the short term, the "price-for-volume" strategy has not ended. many market analysts have recently pointed out that there is no sign that housing prices have stopped falling.

yan yuejin said: "hangzhou is a very typical benchmark city and cannot be viewed in isolation. once hangzhou's housing prices fall rapidly, it will cause major problems."