On July 9, the Shanghai Municipal Housing Management Bureau held a meeting to regulate the listing and management of second-hand housing listings. The meeting made it clear that, on the basis of the verification of listings of houses, the verification of price information will be increased. The transaction management department will verify the source of each house based on the real market price, and the listings that have not passed the price verification shall not be released to the public.
“The starting point and end point of implementing listing price verification is to maintain market order.” Chen Liang, secretary general of the Shanghai Real Estate Brokers Association, explained that some school district housing concepts with serious speculation, even if they are sold at extremely high prices. The case cannot be regarded as the real price for reference. The implementation of housing price verification this time is to further standardize and rectify the operating behavior of real estate brokerage agencies and real estate information service platform companies, and is also an important measure to strengthen the regulation and supervision of the real estate market.
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Precisely crack down on the “false heights” of second-hand housing listings
The Shanghai Municipal Housing Management Bureau clarified that all brokerage agencies and real estate information service platform companies must strictly implement the price verification of listed houses, and operate in good faith and law-abiding in accordance with relevant laws and regulations. For actions such as inducing falsely high prices, driving up housing prices, taking the opportunity to speculate, and disrupting the market, we will take measures such as suspending online signing with relevant departments to seriously investigate and deal with them.
In the specific operation, the real estate agency and other agencies generally first submit the relevant listing information to the official platform for verification. In addition to their own information such as the community and floor where the listing is located, the proposed listing price is also submitted for verification. If the submitted price is higher than the real market price of the community, it will not pass the verification and the listing will not be released to the public.
“Shanghai verifies the source of every second-hand house, which is to form a positive guide to the market from the price dimension, especially in some areas and sectors where the popularity is too high. The listing price itself will have a great psychological impact on both buyers and sellers. Last year, the housing prices of some sectors in Shanghai showed an excessively rapid increase, which itself was also related to the large difference between the listed price and the actual sales price.”
Zhang Bo, Dean of 58 Anju Guest House Property Research Institute, said that through the implementation of second-hand housing price verification, while further regulating and rectifying the business behavior of real estate brokerage agencies and real estate information service platform enterprises, it can adhere to the orderly guidance expected by the real estate market to ensure Shanghai The smooth operation of the real estate market.
In fact, Shanghai’s management and control of the second-hand housing market has been gradually advancing since last year.
In December 2020, a new housing verification link was added in the process of second-hand housing transactions in Shanghai. The policy buffer period ended in March this year, and intermediaries once removed a large number of second-hand housing listings. The new price verification this time is a supplemental upgrade to the previous policy. It precisely cracks down on the falsely high listings of some second-hand houses and misleads housing price expectations, and further maintains the Shanghai property market’s situation of “stabilizing land prices, housing prices, and expectations”.
According to public data, more than 100,000 second-hand houses in Shanghai have passed the verification of the authenticity of the listings. However, it is not difficult to find that there are still unreasonable phenomena in the market. Some second-hand housing sellers listed at inflated prices, or used excessively high prices to attract people’s attention and take the opportunity to mislead people’s expectations of housing prices.
The average price of second-hand housing transactions rose by 5% in June
“Since this year, Shanghai has introduced a series of real estate market regulation policies such as the’Shanghai Ten Articles and the Shanghai Seven Articles’. This new measure is an integral part of this combination, and the focus is on regulating the second-hand housing market.” Shanghai Jiaotong University Housing and Urban-Rural Development Chen Jie, director of the research center, said that the previous control measures were mainly around new houses, and there were a lot of related supporting policies, including lottery scoring system, centralized supply and so on.
In the first half of this year, the price of new houses in Shanghai has narrowed under the influence of continuous and precise control, and market enthusiasm has been effectively controlled. However, as the second-hand housing market is less affected by regulation, prices remain relatively resilient.
Although the second-hand housing market has no upward momentum, the prices of second-hand housing in Shanghai are still high.
Data source of second-hand transactions in Shanghai in the first half of the year: Shanghai Lianjia
According to the monitoring data of Shanghai Lianjia Research Institute, in June, Shanghai sold 28,000 second-hand houses, an increase of 10% from the previous month; the transaction value was 94.1 billion yuan, an increase of 12% from the previous month; the average transaction price was 41269 yuan per square meter, an increase of 5% from the previous month. , An increase of 3% year-on-year. In the first half of this year, the total transaction value of second-hand housing in Shanghai was 605.7 billion yuan, and the number of transactions was 180,000; the average transaction price was 40,793 yuan per square meter, a year-on-year increase of 4%.
“One is because new houses have attracted more attention, and the popularity of new houses has not diminished; second, because the current bank lending cycle has been extended to nearly 100 days (about 40 days in the same period last year), it has lengthened the transaction cycle and affected it to a certain extent. The process of replacement; third, because of the stabilization of market expectations under the influence of a series of regulatory policies, the upside down situation of first-hand and second-hand has discouraged some buyers.” Shanghai Lianjia Research Institute pointed out.
It is worth mentioning that while Shanghai has introduced new measures for second-hand housing, regulatory measures will also be upgraded. The “Daily Economic News” reporter learned that in the next step, the Shanghai Municipal Commission of Housing and Urban-Rural Development, Shanghai Municipal Housing Management Bureau and other departments will also carry out special rectification and standardization of the real estate market order to curb market chaos and promote the stable and healthy development of the Shanghai real estate market.
(Original by Maggie Real Estate, if you like it, please follow meikedichan on WeChat)
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