the first weekend of the central bank's new property market policy: "tidal wave" of new properties in beijing
2024-10-03
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as the "golden september and silver ten" are about to pass halfway and the longest holiday in the second half of the year is approaching, the central bank has released a series of property market gift packages including down payment reduction and existing mortgage loan reduction, which has become a key step in promoting market recovery. in the first weekend after the policy was released, the number of inquiries and appointment visits for many new properties in beijing both increased. some home buyers said on the spot that they would "sign as soon as the policy is implemented." developers are actively adjusting their strategies and are expected to launch a variety of preferential policies for home purchases. this "national day" will become a long holiday that changes the marketing nodes of real estate companies. some projects predict that their number of visits will exceed 500 groups. it’s the first time during the long holiday that the property market is looking forward to it so much.
market consultation volume doubled
on the day after the new deal was released and on the first weekend, reporters from beijing business daily visited many new projects in beijing and learned that the number of inquiries increased sharply, and hotline calls were even received late at night. this was the most intuitive thing for the project leaders and real estate consultants of many new projects in beijing after the new deal. feelings. they generally reflect that since the central bank's policy was released, home buyers have shown great concern for the new deal. the content of home buyer consultations mainly focuses on the specific details of the policy changes, whether they have been implemented, how the project is implemented, and whether current home buyers can immediately enjoy the benefits and conveniences brought by the new policy.
the increase in consultation volume also caught real estate consultants off guard. “the rapid emergence of policy effects is indeed beyond our imagination.” zhai xiaohu, marketing manager of jiuyue mansion project of china construction engineering corporation, believes that the policy adjustment allows customers to see the government’s determination to stabilize the real estate market. on the afternoon of the policy release, the jiuyue mansion project received more than 30 consultation calls. a 100% increase compared to the previous day. even customers who had not been contacted for a long time took the initiative to call the real estate consultant and make an appointment to view the house on the weekend. this rarely happened before.
a similar situation also occurred in the yuanxi real estate project. according to yuanxi marketing staff li miao, as the centralized release of the effects of the old policies has temporarily come to an end, the number of real estate inquiries has dropped to a certain extent since the end of august. this central bank's package of new policies was like a "timely rain". in the afternoon, some home buyers came to the property to inquire about policy changes. the phone numbers of real estate consultants, who already have abundant customer resources, have been calling almost non-stop since the afternoon.
regarding the continued increase in the number of inquiries, li jing, the sales manager of yihe mansion, gave the most intuitive explanation with an account: the minimum down payment ratio for second home loans has been reduced from the original 25% to 15%, which means that the threshold for home purchase has been lowered. taking a property with a total price of 3 million yuan as an example, before the down payment ratio was reduced, the home buyer needed to pay a one-time down payment of 750,000 yuan. after the policy was implemented, this number dropped sharply to 450,000 yuan, directly saving the home buyer. received a start-up capital of up to 300,000 yuan. this enables more home buyers to buy houses in beijing. not only that, the policy also includes a series of "combination punches" such as lowering the interest rate on existing housing loans by about 0.5 percentage points, lowering the deposit reserve ratio by 0.5 percentage points, and providing long-term liquidity of about 1 trillion yuan to the financial market. effectively stimulate consumption vitality, thereby further promoting the overall recovery of the economy.
guo yi, chief analyst of heshuo institution, believes that the policies introduced this time are not just focused on the real estate industry, but are a package of policies to boost the economy, promote consumption, and use real estate as the engine to promote stable economic growth and market recovery. it marks a major shift in the overall regulatory strategy, from the past steady regulation to active stimulus. this shift has a profound impact on reshaping market expectations and boosting public confidence.
the market for just-in-demand housing takes the lead in becoming active
anyone who is familiar with the rhythm of real estate marketing knows that consultation volume is the basis of all transactions. only when a large base of consultation volume is converted into a considerable amount of views can a large-scale transaction volume be finally formed.
with the release of policy dividends, the new home market is heating up rapidly, and the number of inquiries for both improved and rigid-demand housing types is on the rise. however, in the competition between the two, the rigid-demand units have become the biggest beneficiary of this round of policy adjustments due to their affordable price and wide audience. this view has reached a broad consensus among the sales managers.
yuanxi real estate, which focuses on high-end improvements, has also seen a surge in inquiries for small apartments. li miao's analysis pointed out that small apartments have attracted a large number of customers who are relatively short of funds due to factors such as low total price, lower down payment threshold and preferential interest rates. in contrast, the number of inquiries for improved houses with large apartments of 187 square meters and 196 square meters is relatively stable, because these buyers tend to have abundant funds and will pay the full price or a down payment of about 70% when purchasing a house. it is not very sensitive to adjustments to the down payment ratio.
a similar situation also occurred in the yihe mansion project in daxing district. the unit sizes of this project range from 75 to 224 square meters, covering different needs from initial needs to improvement. li jing said that after the promulgation of the new deal, buyers who inquired by phone were mainly concentrated on the improved apartment types of about 127 square meters. although these customers have a certain amount of funds in their hands, they are not yet fully sufficient. the introduction of the new deal will undoubtedly provide them with a better opportunity to purchase a house. for buyers who had previously chosen to improve their apartment layout, real estate consultants did not feel any significant change in the number of inquiries after the policy was released.
during the interview with a beijing business daily reporter, the sales office of jiuyue mansion received a consultation from a "post-90s" couple. according to zhai xiaohu, after the policy was released, the couple came to the jiuyue mansion sales office to inquire about the 79-square-meter apartment they needed. considering that their children would grow up and their parents would grow older in the future, they would like to live together in beijing. the existing housing it can no longer meet the living conditions for a family of five. taking advantage of the reduced down payment ratio for a second home, the young couple plans to use their respective savings, plus the support of their parents, to purchase another property for their parents to live in.
yan yuejin, deputy director of e-house research institute, said that the adjustment of the down payment ratio for second homes accurately meets the actual needs of the hard-to-buy groups, effectively lowers the threshold for home ownership, and promotes the release of diversified home purchase needs. in contrast, improvement-oriented home buyers have a relatively solid economic foundation and are often able to raise down payments through a variety of channels, so they are relatively less sensitive to adjustments in down payment ratios. therefore, from the perspective of policy effects, this adjustment has a more significant role in promoting home purchases by groups in urgent need.
the voice says “sign the bill as soon as the policy is implemented”
in the boom of home purchase inquiries, "wait a little longer", "expected to be soon" and "not too long" have become high-frequency words among sales managers. as the number of customer inquiries surges and the market rebounds, front-line sales managers are deeply aware of the rebounding trend of the new home market. however, buyers’ eager expectations for the implementation of the policy are intertwined with their cautious attitude before actual action, which also makes sales managers feeling anxious: before the policy is clearly implemented, how to stabilize existing customers has become a common question for sales managers after the policy is released and before it is implemented.
"before the policy is implemented, home buyers will not sign a contract for purchasing a house." li jing said that on the afternoon of the policy release, she received calls from many old customers. among them, a 35-year-old couple was particularly eye-catching. after the "517 policy", i frequently visited the sales center, but i was hesitant due to market uncertainty and my own economic pressure. the introduction of the new policy also gave them hope of buying a house, and they took the initiative to contact the real estate consultant. however, after consulting and learning that the policy had not yet been officially implemented, they immediately said that they would wait until the policy was implemented before signing the contract.
this mentality of "waiting for the policy to be implemented" is quite common among many home buyers. as a result, many real estate sales managers, while rejoicing in the market recovery, also have to face the problem of possible loss of customers. during the investigation, beijing business daily reporters learned that in order to retain home buyers in some real estate projects, developers have formulated exclusive home purchase plans for different customers based on the principle of one house, one policy to cope with the uncertainty of the policy implementation time.
according to li miao, customers can lock the property first, and then the new policy will be implemented after the policy is officially implemented, so as to alleviate the worries of home buyers. however, she also admitted that although this strategy can temporarily alleviate customer anxiety, it cannot replace the substantial increase in peace of mind and transaction volume brought by the actual implementation of the policy.
xie yifeng, president of the china urban real estate research institute, pointed out that the central bank's policies are advancing steadily, which is reflected in the financial control measures announced on september 27, including lowering the deposit reserve ratio of financial institutions by 0.5 percentage points and reducing the policy interest rate by 20 basis points. it aims to further release market liquidity and promote economic vitality. as for the policy of reducing the down payment ratio for second-home buyers, which is of particular concern to the majority of home buyers, it is expected that this favorable measure may not be officially implemented until after the national day holiday. this is mainly due to the fact that there is a certain time lag between the release of the policy and the specific implementation by local financial institutions. usually this cycle is between 3 and 7 days to ensure the smooth transition and effective implementation of policy adjustments.
it is worth mentioning that just after the central bank released a package of new policies, a meeting held by the political bureau of the cpc central committee pointed out that in order to promote the real estate market to stop falling and stabilize, the construction of commercial housing must strictly control the increase, optimize the stock, improve the quality, and increase " the intensity of loan disbursement for "white list" projects will support the revitalization of existing idle land. it is necessary to respond to the concerns of the masses, adjust the housing purchase restriction policy, reduce the interest rate of existing mortgage loans, speed up the improvement of land, fiscal and taxation, financial and other policies, and promote the construction of a new model of real estate development.
"already 15 groups of customers have made appointments to view houses during the holidays."
long holidays such as the spring festival and national day are generally the "off-season" for real estate sales, but this year's upcoming national day is different. because of the package of financial policies and the statement that "the real estate market has stopped falling and stabilized," real estate companies have frontline marketers have high hopes: market confidence is quietly picking up, driven by the continued catalysis of multiple favorable policies and the new pattern of global capital flows triggered by the federal reserve's interest rate cuts, bringing more vitality to the property market.
zhai xiaohu admitted that during the national day holiday in the past, people were more inclined to spend quality time with their families or travel, enjoying the leisure and comfort of life, rather than being busy looking at houses and buying houses. this "dislocation" compared with the "big promotions" and hot sales of other consumer formats makes the property market appear relatively deserted during this period, and the transaction volume is often lower than that of other marketing nodes. but this year's "national day", zhai xiaohu believes that it may become a "national day" that changes the marketing node of real estate companies.
zhai xiaohu said that the central bank issued a package of policies before the national day, which will have a very positive impact on the market, especially for customers who have the need to buy a house but are hesitant. for example, according to the new policy, the down payment for a 5 million yuan house in jiuyue mansion of china construction group is only 750,000 yuan. this also means that more customers will have the opportunity to buy houses within the fifth ring road. in zhai xiaohu’s impression, the down payment is less than 1 million yuan. purchasing a house within the fifth ring road was still a thing before 2018.
compared with immediate needs, the reduction in the down payment ratio for second homes has also directly affected customers who previously had insufficient start-up funds. li jing believes that the policy adjustment will not be so urgent for customers who previously had to rely on house sales to achieve improvements in area, environment, quality, etc., as long as they have funds available to pay the down payment. or add a new property to the house that is not for sale.
"we can use the least amount of funds to leverage larger underlying assets to meet replacement needs." li jing elaborated on the actual benefits brought by the new policy to a beijing business daily reporter, taking a house with a total price of 5 million yuan as an example. , based on the down payment ratio of 25% before the policy adjustment, home buyers need to pay a down payment of up to 1.25 million yuan. however, as the down payment ratio is reduced to 15%, the start-up capital also drops to 750,000 yuan. this makes the start-up capital insufficient. and the shelved desire to buy a house has been rekindled.
li jing revealed that within a few days after the policy was released, many buyers had already made appointments to view houses during the holidays. according to rough statistics, there were already 15 groups of buyers, which rarely happened in previous years.
guo yi believes that when the central bank released a policy "gift package" on september 24, it fully considered that the holiday is the best time to boost consumption and gave local governments time to implement the policy. if the policy is implemented before the national day holiday, , during the national day holiday, it can have a great boost to the overall economy, including the real estate market.
li ang, the head of beijing's largest agency, also revealed to a reporter from beijing business daily that during this "national day" holiday, all projects under his company's agency will cancel vacations, cooperate with customers in reception work, and fully embrace different marketing nodes.
it is expected that the number of visitors will exceed 500 groups
driven by policy dividends, the real estate sales field is full of expectations for the upcoming national day golden week, and sales managers have generally raised their estimates of the number of property visits. according to feedback from many popular real estate projects visited by beijing business daily reporters, the number of holiday visits is expected to double this year, and market activity will increase significantly.
the sales managers of china construction jiuyue mansion, yuanxi, yujingxingcheng yuanqi and yihe mansion are all optimistic. they all believe that the number of visits during the national day will easily exceed the doubling growth rate threshold. based on the recent due to the surge in inquiries after the release of the central bank's policy, the actual number of visits is likely to far exceed this forecast.
sun tao, sales manager of poly jingshan hexu, also gave a positive prediction. he expected that the number of visits during the national day holiday would exceed 500 groups.
part of sun tao’s optimism about the new home market during the national day holiday is based on his many years of experience in the industry, and more importantly, the statistical data on the number of people who made appointments to view houses before the national day holiday. "after the policy was released, more than 20 groups of customers have made appointments with real estate consultants to view houses during the national day holiday." sun tao believes that the adjustment of the reserve ratio not only boosted the stock market and enhanced people's confidence in wealth, but also indirectly it has promoted the improvement of financial liquidity of home buyers and effectively stimulated the purchasing power of the market. in addition, policy adjustments have also greatly enhanced the confidence of home buyers, especially those potential buyers who already have funds and a wait-and-see attitude.
regarding the specific number of visits, sun tao further predicted that the average daily number of visits during the national day holiday will fluctuate between 50 and 80 groups, and the cumulative number of visits during the entire holiday is expected to reach 500 groups, even considering that there may be at the peak of travel, it is conservatively estimated that there will be no less than 300 groups. compared with about 150-200 groups of visitors per week in september, this increase can reach up to more than 150%.
in order to seize the opportunity to buy houses during the upcoming national day golden week, major real estate projects are planning a series of limited-time special offers to attract and retain potential customers and promote the growth of contract signings. for high-quality real estate projects that are ready for development, we will accelerate the implementation of various preferential policies and strive to achieve breakthrough progress in the number of contract signings during the national day holiday, a critical node.
wang mu, head of marketing at yujingxingcheng yuanqi, said that during the national day, customers who make a transaction will be given a gift package of home appliances, including curtains, sofas and beds. according to a reporter from beijing business daily, during this national day holiday, yujing xingcheng yuanqi is not the only real estate project promoted through gift packages. jiuyue mansion has also prepared visiting gifts and subscriptions for buyers who visit the project. zhai xiaohu said that in addition to gift packages, some property fee discounts will be given to customers who are expected to complete transactions, and some houses will be sold at a fixed price.
in the face of fierce market competition, real estate projects, on the basis of attracting customers to visit, pay more attention to how to promote contract signing and conversion through strategic means. a reporter from beijing business daily found that in order to dispel home buyers’ concerns about future price fluctuations, some projects are actively preparing to sign price guarantee agreements.
li chang, the person in charge of marketing for a real estate project in daxing district, beijing, revealed to a beijing business daily reporter that the project is actively preparing to launch price-guaranteed agreements for some home buyers who are sensitive to price fluctuations. the agreement will clarify the pricing cycle and compensation mechanism to ensure that within the agreed time, if the price of the same type of housing is reduced, the home buyers will enjoy the rights such as price difference compensation or housing exchange, effectively locking in the interests of the home buyers, and also ensuring that the previous transactions have been completed. the owner plays a responsible role.
regarding this change, xie yifeng believes that the introduction of price guarantee agreements in real estate has become an important means to stabilize the expectations of home buyers. this move not only enhances home buyers' confidence in rising housing prices, but also reflects developers' positive attitude and emphasis on the future property market. price guarantee agreements are expected to become a common measure in real estate marketing strategies. by providing buyers with a certain price guarantee, they will further promote sales while maintaining the stability and healthy development of the market.
including the above-mentioned marketing leaders and industry analysts, they also called for the corresponding optimization policies to be implemented as soon as possible, so that the highly anticipated "national day" holiday can truly realize the role of "changing the marketing nodes of real estate companies" and "bearing the first wave of demand release". (reporter wang yinhao)
source: beijing business daily
