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the transaction volume of new houses surged 10 times year-on-year, and purchase restrictions were lifted in some areas to attract foreign customers; the single-day transaction volume of second-hand houses hit a new high in recent years, and the room for price negotiation decreased...after the shenzhen property market introduced a series of new policies, many intermediaries released transaction reports, national day the holidays become golden week for the real estate market.

"'stop the decline and stabilize' is the final word," zheng shulun, president of centaline real estate south china and general manager of shenzhen centaline, summarized the eleventh property market in shenzhen. he said that through a series of combination punches, the market response was very enthusiastic and market demand was suddenly released.

before the national day holiday this year, shenzhen city officially announced a series of new policies for the real estate market. starting from october 1, it will clearly optimize the zoning housing purchase restriction policy, cancel the transfer restrictions on commercial housing and business apartments, optimize the price filing process, and adjust the vat exemption for individual transfers of housing. years, and optimize personal housing loan policies.

the transaction volume of new houses surged 10 times year-on-year, and foreign customers became the new force in buying houses.

“the transaction volume of new houses is very good and their performance is better than that of second-hand houses.” this is the intuitive feedback from local agents in shenzhen.

monitoring data from le youjia research center shows that from september 30 to october 6, the new home transaction volume of le youjia shenzhen stores increased by 979% compared with the period from september 30 to october 6, 2023, of which october 1 the city’s daily new home transaction volume is expected to exceed 600 units, which has been rare in the past three years.

the transaction conversion rate also hit a new high. according to leyoujia store data, the conversion rate for viewing new homes during the national day period increased from 2% in september to 12%. in other words, out of 100 batches of customers who viewed new homes, 12 batches of customers completed transactions, and the conversion rate hit a new high.

according to data released by shenzhen zhongyuan research center, during the full week of shenzhen’s new deal (september 30 to october 6), the number of visits to zhongyuan house-seeking users increased by 180%, and the number of incoming calls increased by 34% month-on-month.

real estate agent liu tao is a member of shenzhen centaline real estate, and his store is in bao'an district, shenzhen. according to liu tao, during the national day holiday, the company's stores can generally sell 3 to 5 units, with the best stores selling 10 units.

from the perspective of the industry, this new policy will provide incentives to customers who are in urgent need, newly renovated, and luxury homes. immediately needed projects include yifeng mingting, mingju shanheli, guangming zhonghai time realm, and manjinghua jinshuo mansion in longgang; improvement projects include hongrongyuan shangyun and zhuoyijunyi mansion in longhua, and jinzhongyun mountains, seas, and green views in nanshan baishizhou and other places have frequent good news about transactions. in addition, some properties have been sold out, and the number of sincere registrations for pre-sale properties has exceeded twice the number of pre-sale properties.

liu tao introduced, "my customer base is mainly concentrated in bao'an center and qianhai. during the national day, i mainly focus on the china railway yuezhenfu project. the project has almost completed hundreds of units, and there is basically no shipment volume." he pointed out, after the new deal, many new housing projects took advantage of the national day holiday to launch certain preferential activities. the atmosphere in the sales offices was also relatively good, making it easy to impress customers into the market.

the industry believes that shenzhen's new housing market has performed well. in addition to the large number of "house tickets" brought by the new deal, another core factor is that the mentality of developers is mainly based on volume. at present, the prices of most new housing projects are still in an inverted state, coupled with the purchase of houses. investors have increased confidence in market outlook and housing prices, so they are more decisive in buying new homes. in addition, judging from the sales information released by real estate agencies, many houses are offering discounts.

zheng shulun told the paper that after the new policy was implemented, local customers in shenzhen were more willing to enter the market and asked whether they were qualified to buy a house. because you can buy houses in non-core areas without any restrictions, the new policy also attracts customers from out of town. among them, the newly added out-of-town customer group has become a new force in buying houses in the near future.

survey data from le youjia research center shows that in popular real estate projects such as bao’an and longhua, foreigners account for 20% of transactions.

it is worth mentioning that media reports indicate that in addition to foreigners coming to shenzhen to buy houses, many foreign faces also appeared in shenzhen’s real estate sales departments during the national day.

on the social platform, an online picture was marked with the words "saudi tycoon sold five sets". in response, netizens joked that "people from dongguan, china, referred to as the middle east."

a local new house agent in shenzhen said, "it's true or false. some projects do have foreign customers, but some are just gimmicks for developers to promote."

according to southern metropolis daily, according to relevant policies, foreigners can purchase a house for self-occupation in the country and must provide a certificate from the relevant department proving that they have worked in the country for more than one year. when foreigners purchase a house, they need to provide their passport and a "foreigner work permit" valid for one year. if the "foreigner work permit" is valid for less than one year, you need to provide your passport, "foreigner work permit", a labor employment contract in shenzhen for more than one year, and an individual tax certificate for more than one year. the employment contract period can be calculated cumulatively. . if foreigners hold a "foreigner permanent residence identity card" (commonly known as a chinese green card), they do not need to review their working hours in china.

the room for price negotiation of second-hand houses has begun to decrease, and the proportion of luxury house transactions has increased.

the transaction volume of the second-hand housing market also experienced an increase, with the transaction volume on the first day of the holiday hitting a record high in recent years. at the same time, the mentality of owners began to change, and the space for price negotiation began to decrease.

data from leyoujia shenzhen stores show that from september 30 to october 6, second-hand transaction volume increased by 298% year-on-year. among them, the single-day transaction volume on october 1 increased by 120% compared with the daily average in september, and also exceeded the monthly average in september. the data on the 30th once again refreshed the highest point since february 2021.

according to data from shenzhen zhongyuan research center, from september 30 to october 6, the number of second-hand listings in zhongyuan houses increased by 13.6%, with prices increasing accounting for 6.4% and prices decreasing accounting for 7.6%.

the transaction conversion rate of second-hand houses has increased significantly like that of new houses. according to leyoujia store data, the transaction rate of second-hand house inspections has increased from 3.5% to 7.4%. customer decision-making speed has been significantly accelerated, and confidence has rebounded significantly. the price negotiation space for second-hand houses has decreased from the highest 12% to 8%, and the owner’s mentality something has changed.

from a price point of view, the transaction prices of second-hand houses in shenzhen have begun to stabilize and stop falling. from september 30 to october 6, among the second-hand transaction listings of le youjia shenzhen stores, the proportion of transaction prices that were more than 20% lower than the reference price shrank from 56% in the previous week to 41%, which was 10% lower than the reference price. the proportions of -20% and 0%-10% have increased significantly, indicating that the deviation between the transaction price and the reference price is narrowing.

according to zheng shulun, the stock market is booming, the wealth effect is beginning to appear, and mid- to high-end high-quality properties in core areas are highly sought after. institutional monitoring data shows that the proportion of improved housing with a total price of 8 million to 10 million yuan and luxury housing with a total price of more than 10 million yuan has shown an upward trend, with an increase of 2-3 percentage points.

according to industry insiders, the number of second-hand housing listings in shenzhen is still at a high level. after the implementation of the policy, some demand for home purchases will be released, but the follow-up still needs to be observed. data from the shenzhen real estate agency association shows that on october 5, 65,789 second-hand houses were for sale in shenzhen, an increase of 1,388 units from september 30.

zhang yuan, president of the shenzhen real estate agency association, said in an interview with the yangcheng evening news that from a data perspective, shenzhen’s second-hand housing transaction volume and second-hand housing listings have both rebounded in the short term, and market transaction activity has increased. however, in the medium to long term, whether the current property market can escape the "difficulty" and buck the trend depends mainly on the stabilization of the macroeconomic environment and the reversal of people's overall expectations for the future.

zhang yuan believes that with the changes in supply and demand, the future real estate market structure may be deeply differentiated. on the one hand, core cities will show a relatively strong siphon effect due to the benefits of this round of loose policies; on the other hand, core cities will also show the characteristics of intensified differentiation, superimposed on quality, location, resources and other factors, "good the asset value of "house" will gradually be reflected.