the real estate market is accelerating the construction of a new development model during the adjustment
2024-09-23
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half-month talk on the property market by our reporter xia jinbiao
"golden september and silver october" is the traditional peak season for real estate sales. this year's mid-autumn festival holiday can be said to be the first important node to test the "golden september" of the real estate market. during the mid-autumn festival holiday, real estate companies in various places have stepped up their efforts to promote sales and sales.
beijing real estate companies have launched special discounts and special housing for the mid-autumn festival; more than 40 real estate projects in guangzhou have launched preferential activities; shenzhen has launched policies such as housing subsidies for renovations; zhengzhou has launched special housing, home appliance packages, property fee reductions and other promotional policies during the mid-autumn festival...
some local governments are also targeting the "golden september and silver october" to promote the stabilization of the real estate market. for example, the nanjing housing security and property bureau issued the "notice on issuing limited-time purchase subsidies for the 2024 golden autumn housing fair", which provides an additional subsidy of 1% of the purchase contract amount on the basis of the current housing subsidy policies of various districts for buyers who purchase newly built commercial housing at the nanjing golden autumn housing fair from september 20 to 22, 2024 and complete the online signing and filing of the newly built commercial housing sales contract before december 31, 2024. in addition, many places such as zhanjiang, guangdong and tianfu new district, sichuan have also issued new real estate policies to promote the stable and healthy development of the real estate market.
data from the china index academy shows that beijing's new home market is relatively optimistic, with the average daily transaction volume of new homes during the mid-autumn festival rising by 91% compared with the 2023 holiday, making it the only city to see an increase among first-tier cities. the average daily transaction volume of new homes in shenzhen, shanghai, and guangzhou fell by 7%, 17%, and 65% respectively compared with the 2023 holiday. the report from the china index academy pointed out that due to multiple factors such as typhoons and travel, the overall number of visits to sales offices in most cities was average, and the transaction volume was lower than the previous mid-autumn festival holiday level. the average daily sales area of new homes in 25 representative cities fell by about 29% compared with the 2023 holiday.
data released by the national bureau of statistics show that the real estate market is still in the process of adjustment. compared with the previous month, in august, the sales prices of commercial housing in various cities fell. in that month, the sales prices of newly built commercial housing in first-tier cities fell by 0.3% month-on-month, and the decline narrowed by 0.2 percentage points from the previous month. the sales prices of newly built commercial housing in second- and third-tier cities fell by 0.7% and 0.8% month-on-month, respectively, and the decline widened by 0.1 percentage points from the previous month. in terms of second-hand housing prices, in august, the month-on-month declines in second-hand housing sales prices in first-, second- and third-tier cities widened compared with the previous month.
it is worth noting that since the "may 17 real estate new policy", the national new home market has shown signs of continuous improvement, and the month-on-month decline in new home prices has continued to narrow for three consecutive months. on may 17, the people's bank of china and the state financial supervision and administration bureau and other departments issued a series of real estate new policies, including canceling the lower limit of the mortgage interest rate policy, lowering the down payment ratio of mortgages and the interest rate of provident fund loans, and establishing affordable housing re-loans. subsequently, various regions issued a number of detailed measures, which boosted market confidence and increased the activity of the real estate market.
at present, the real estate market is accelerating the construction of a new development model in the process of adjustment. for example, the "may 17 real estate new policy" set up 300 billion yuan of affordable housing re-loans, encouraging financial institutions to support local state-owned enterprises to purchase built but unsold stock commercial housing at reasonable prices, and use them as allocation-type or allocation-type affordable housing to meet the rigid housing needs of the working class. this will help accelerate the construction of a new real estate development model, further improve the housing supply system, and better meet rigid and improved housing needs.
with the acceleration of the construction of a new model of real estate development, including measures such as increasing the construction and supply of affordable housing and supporting the improved housing needs of urban and rural residents, the housing needs of different groups will be better met and the long-term stability of the real estate market will be promoted. by the end of 2023, my country's urbanization rate will be only 66.16%, which is still a certain distance compared with the urbanization rate of about 80% in developed countries. my country is still in an important period of urbanization. with the continuous advancement of my country's new urbanization, there is still considerable room for high-quality development of real estate.
it is expected that the package of reform measures to accelerate the construction of a new model of real estate development will be accelerated, gradually eliminating the drawbacks brought about by the past real estate development model of "high debt, high turnover, and high leverage", further improving the "market + guarantee" housing supply system, meeting the housing needs of people at different income levels, better meeting the people's expectations for "good houses", and establishing and improving basic systems such as financing, finance, taxation, land, and sales that are compatible with the new model of real estate development.
