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peng hongxia/from beijing

on the night when beijing’s new policies were released, real estate salesperson tang xiao worked overtime until two in the morning.

late at night on september 29, the central bank and the state financial supervision and administration bureau announced that commercial personal housing loans will no longer distinguish between first and second homes, and the minimum down payment ratio will be unified to no less than 15%. at the same time, batch adjustments will be made to existing mortgage interest rates. immediately afterwards, on the evening of the 30th, beijing announced an optimization of the purchase restriction policy, plus a series of positive benefits such as lower mortgage interest rates and lower down payments.

that night, many home buyers walked into the sales office, and major real estate projects began to work overtime to promote sales. beijing's property market showed unprecedented activity.

even before the policy was released, many real estate projects in beijing hit the key milestone of "september 30" and had already sold hundreds of units, with good sales for more than 20 days. after the promulgation of the new policy, the number of consultations, visits, and subscriptions further increased. many project sites were even more crowded, and home buyers were enthusiastic.

the favorable policies not only stimulated the enthusiasm of home buyers, but also prompted developers to respond quickly. some projects have taken advantage of the situation to propose withdrawing discounts and raising prices, hoping to further squeeze customers' transactions. at the same time, the improvement in market confidence is also obvious, the anxiety of home buyers has eased, and sales staff have more confidence in making appointments with customers.

zhang dawei, chief analyst of centaline institution, believes that the loosening of purchase restrictions will help the market "stop falling and stabilize" in october. yan yuejin, deputy director of the e-house real estate research institute, also said that the adjustment of beijing’s property market purchase restriction policy and the reduction of down payment ratio will help release some of the pent-up demand for home purchases, especially for those who have the purchasing ability but are limited by policy restrictions. the release of demand will be directly reflected in the growth of transaction volume, which is often a leading indicator of a rebound in the property market.

working overtime early in the morning to sell a house

beijing yizhuang merchants seal project sales office live situation

"there were still customers visiting for consultation after ten o'clock last night. by this afternoon, i had taken care of more than ten groups of customers, and i didn't even have time to eat." tang xiao told reporters at 16:00 on october 1 that he had been working overtime and night work for many days in a row. often i can’t eat until late at night.

this phenomenon is not unique.

"so far, a total of 16 new units have been subscribed for new projects and repeated visits, and more than 100 groups have visited. there may be transactions one after another in the evening." qian xiaomu, head of marketing at yujingxingcheng yuanqi, china construction yipin, said that many house purchases everyone is waiting for the new policy to be implemented. after beijing’s policy was released at around 10 pm on september 30, there were still customers coming to the sales office for consultation, indicating that the market demand for home purchases still exists. the new policy further stimulated the determination of these home buyers to enter the market.

“visited more than 100 groups, subscribed for 8 units, and signed contracts worth 125 million yuan.” at 19:00 on the first day of golden week, the relevant person in charge of china merchants beijing gave a set of figures. this is the summary data of beijing yizhuang merchants seal.

"china merchants xi usually visits 40 or 50 groups. after the implementation of the new deal, the passenger flow doubled and the growth rate was very fast. some customers came today because the sales office was short of manpower and even had no time to receive them." the person in charge said that the subscription data in the afternoon it was still 5 sets, but by the evening it had increased to 8 sets. it is expected that the number will change.

at the fangshan guoxianfu project site, the waiting area is basically full of home buyers. liu min, an on-site real estate consultant, said that he was very busy today. while he was busy showing customers the project, he was also replying to various consultation messages on his mobile phone from time to time.

"in less than half an hour in the morning, two groups of customers have knocked on the golden eggs for house purchase in the marketing center, which means that two groups of customers have completed transactions or paid deposits for house purchases." liu min said that after noon, people at the project site the traffic has increased significantly again. as of 18:00 that day, more than 8 units of the project had been subscribed.

jinghua guoxian mansion, another project of fangshan higher education park owned by china construction intelligent land, received equally impressive subscriptions and announced the sale of 21 units on the same day. at 21:00, china construction zhidi fangshan’s four-unit transaction data was announced. fangshan guoxianfu, jinghua guoxianfu, chunhe impression, and xuefu sold a total of 46 units on the first day of the new moon, bringing a bright spot to the fangshan property market.

overnight withdrawal discount

from lowering existing mortgage interest rates to reducing down payment ratios to shortening social security years, policies have brought tangible benefits to home buyers and enhanced their confidence in home buying. real estate projects and intermediary brokers have also responded quickly.

after beijing's new policy was released, tang xiao's project took advantage of the situation and proposed to withdraw the discount and increase the price by 2%. one of its competing projects, changping district xincheng wutong mountain language project, also immediately announced a 2% discount on all products. the jingneng xixianfu project in the west fourth ring road in fengtai district also said that the original discount plan will be restored from now on, and the excess discounts will be recovered.

there are also projects that leave a certain buffer space, and then withdraw discounts and increase prices after the holidays, hoping to squeeze a group of customers into transactions through the "last discount".

china resources beijing said that after october 8, all the properties for sale in beijing will be increased by 2% on the basis of the existing price; china construction yipin also issued a poster that from october 8, its huaxiang no. 1, yihe mansion, and imperial palace properties will be increased by 2%. jingxing city, yujing star city yuanqi, and daxing starlight city have a discount of 2%.

the continuous favorable policies have stimulated many people’s desire to buy houses. some home buyers said that they would choose some properties with strong promotions that they had previously expressed interest in, and they would make a move if they were suitable.

some home buyers who are already in negotiations are beginning to accelerate their decision-making process.

among the customers who subscribed to fangshan guoxian mansion on the first day, nearly 80% were customers within the 20-day transaction cycle, and all transactions were completed after two visits. among them, there are many customers who signed a subscription contract when they visited for the first time, and there are also customers who have waited and watched for the past year to make a deal.

"the greater significance is that confidence has been improved." qian xiaomu said that the obvious change after the release of the policy is that customer anxiety has eased, and sales appointments with customers have become more confident. from the front end to the back end, the increase in confidence has enabled the two ends to be connected. connect and begin to move towards positive development.

judging from the feedback from the first-line market, home buyers are very enthusiastic about viewing properties. this year's "silver ten" in beijing and the fourth quarter's property market transaction volume may see a more obvious rebound.

zhao qingxiang, secretary-general of the beijing real estate agency industry association, analyzed that judging from online signing data, the market was overall stable in the third quarter. transaction volume has been rising steadily. in july, the transaction volume of second-hand housing once exceeded 15,000 units. the number of housing listings has decreased. in some areas, prices are showing signs of stopping falling and stabilizing.

each of beijing’s eight new policies is very targeted and solves different problems. zhao qingxiang said, "when policies are introduced, the market will definitely react positively and quickly, and policies such as lowering existing mortgage interest rates and lowering the minimum down payment ratio for personal housing loans will have a more lasting impact on the market."

at the same time, as transaction volume continues to grow, market confidence will gradually recover, and home buyers' expectations for housing prices will also change, thereby promoting a rebound in housing prices and forming a virtuous cycle in which both volume and price rise.

zhang dawei said that overall, from the central to local governments, from beijing to shanghai, the policies of various places are very strong, and the determination of the series of new policies to stabilize real estate has been fully demonstrated. as long as real estate is unstable in the future, more policies will definitely be introduced. on the basis of the increased policy releases in various places, the national level will comprehensively promote policy easing for real estate. the country's determination to promote the recovery of the real estate industry and the economy has exceeded expectations.

editor on duty: ma lin

editor in charge: wen hongmei

reviewer: dai shichao

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