nearly two months after zhengzhou lifted the price limit on commercial housing: buyers are still holding on to their money and the housing market is becoming more polarized
2024-09-21
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many homebuyers said, "canceling the price limit does not mean a significant price reduction, so we can wait and see."yu shuaiqing/from beijing"the 'price limit order' has long been 'dead in name only' in zhengzhou, and this policy adjustment has not had a significant impact on the local property market." several industry insiders in zhengzhou told reporters.the commercial housing sales price filing system was implemented in 2010 as a means of regulating housing prices. all regions have relevant regulatory measures, requiring real estate companies to sell at the filing price, or to fluctuate up and down according to a certain ratio, otherwise the purchase contract may be invalid. now many places have announced the cancellation of the commercial housing sales price guidance, zhengzhou is one of them.on july 31 this year, zhengzhou’s housing security department announced the cancellation of price guidance for commercial housing sales, and developers can now set their own prices for sales or go through the registration procedures for pre-sale (sales) permits.however, in the current market environment, most real estate developers in zhengzhou are not in a hurry to adjust their pricing strategies. a real estate executive said: "after the price limit was lifted, we did not make any price adjustments. this is because our project is located in the fourth ring area of the city and was already sold under the price limit."she further admitted, "among the projects currently on sale in the zhengzhou market, except for the new projects launched in the past two years, the rest are basically sold below cost price. most developers still prioritize payment collection and cash flow, and then adjust prices according to market conditions."now, more than a month has passed since the cancellation of the price limit policy for commercial housing, and the zhengzhou real estate market has not seen drastic fluctuations. "the cancellation of the price limit has not had a significant impact on the sales of our projects, and new customers are not in a hurry to buy houses," said several zhengzhou real estate executives.homebuyers are indeed in a wait-and-see mood.a homebuyer who has been looking at houses for half a year said, "i have been keeping an eye on the housing prices for the past six months. seeing that zhengzhou's housing prices have been falling all the way, i dare not buy any more. although buying at a low price makes people happy, the result of a continuous decline after buying is also unacceptable." several other homebuyers said, "canceling the price limit does not mean a significant price reduction, so we can wait and see."an experienced person from a local real estate agency in zhengzhou analyzed that home buyers generally hold the mentality of "buy when prices fall and not buy when prices rise". even if the price limit is cancelled, they did not take immediate action. instead, they became more cautious due to the expectation of continued decline in housing prices and chose to continue to wait and see.li yujia, chief researcher at the housing policy research center of the guangdong provincial urban and rural planning institute, said that at present, the driving effect of price cuts on real estate sales has obviously declined. the driving effect of price cuts on sales in the first half of the year was indeed reflected, but after the second half of the year, consumers generally expected that housing prices would continue to fall. this expectation made them more cautious when buying houses and tended to wait and see until a more appropriate time. this psychological expectation directly affected the sales of the real estate market, making the effect of price cuts gradually weakened.in addition, although the epidemic has had a certain impact on the property market, the current market downturn is not only due to the epidemic, but more to the lack of consumer confidence caused by the economic downturn, unstable income and uncertainty in the job market. although price cuts and promotions can attract some buyers with rigid and improvement needs in the early stage, as this part of demand is released, the market gradually returns to normal, or returns to a downward trend.at present, zhengzhou's real estate market presents a relatively obvious polarization trend, that is, hot improvement projects in the core area maintain high popularity, individual projects have insufficient housing supply, and there are still new projects that have achieved a good performance of 80% sales recently. however, for most existing projects and projects with rigid demand, there is still great sales pressure.according to cric henan regional data, from september 9 to 15, the average number of visits to a single property in zhengzhou's main urban area was 55, and 3 units were sold, up 10% month-on-month. the average number of visits to a single property in the suburban area was 17, and 1 unit was sold, which was flat month-on-month. the average number of visits to a single property in the remote suburbs was 26, and 1 unit was sold, which was flat month-on-month. in terms of second-hand housing, the transaction volume was about 208,600 square meters that week, up 54% month-on-month, of which the main urban area had a transaction volume of about 150,100 square meters, and the area around zhengzhou had a transaction volume of about 58,600 square meters.liang botao, general manager of china index academy henan branch, said that although the weekly transaction volume of new homes in zhengzhou is currently at a low level this year, it rebounded slightly during the week of mid-autumn festival, and the transaction volume of second-hand homes has remained generally stable this year, reflecting that zhengzhou's housing demand is still well supported.on-duty editor: fan yongfengeditor-in-charge: ma lin, wen hongmei
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