The transaction volume of many second-hand housing communities is at a low level, and many communities have not even had housing transactions for several months.
Since last year, many landlords in Hangzhou have found that the houses are not easy to sell, and few people even come to see the houses they have listed. The landlord of a community in Liangzhu said that his house had the lowest listed price among second-hand houses of the same type in the community, so the intermediary took him to see it more than 90 times, but “no one bought it sincerely.”
“Second-hand housing is hard to sell” has almost become the consensus of the current market. Landlords are anxious and unwilling to sell below the market price, but if they are not willing to cut prices significantly, second-hand houses will not be sold.
The buyer is one hour late and the landlord dare not wait
On social networks, landlords have shared their experiences of selling houses.
A landlord in West Lake District said that he started selling his house last year. In order to increase the exposure rate of the house, I called the intermediary every day to communicate, and the house information was displayed in Lianjia’s “must-see houses” and I love my house’s “selected houses”, but there was no splash. “Last year, a client made an appointment to come to see the house. In the end, the client was late for more than an hour, but I was willing to wait. There is no way, the house is too difficult to sell. The current landlord is really humble.”
In order to increase the number of viewers of the house because no one cares about the house after it was listed, some landlords spent a lot of money to sign a “good house” with Shell. The landlord said that in this way, the house can get more traffic tilt and exposure on the intermediary platform, but it needs to pay a lot of promotion fees. In the end, none of the customers came to negotiate the price.”
Fang Li (pseudonym) bought an old house on Jiefang Road in 2020, with a construction area of less than 50 square meters and a total price of 1.9 million yuan. Fang Li said that when she first moved in, she was very satisfied with the location, decoration and commuting distance of the house. At the beginning of this year, Fang Li decided to sell this old house and replace it with a new one or a new one.
But when I inquired, if the current transaction price is used, my house has lost at least 350,000 yuan compared to the purchase price. What’s even more troublesome is that even at such a price, no one is willing to come to see the house. “I’ve lost so much, I really don’t want to lower the price anymore, but if the house can’t be sold, I can’t replace it. It’s really tangled.” Fang Li said, which made her feel very anxious.
Fang Li’s situation is not an exception. Brokers in the city center also gave feedback to reporters,Landlords in old communities are the most anxious, because the prices of old communities have dropped a lot in the past year or so, and they cannot be sold without a substantial price cut.According to the data from I Love My Home, there are more than 600 listings in Districts 1-9 of Zhaohui, many of which have a listed unit price of less than 30,000 yuan.
Hangzhou No. 1 Hospital Photo by Chao News reporter Yin Mengyi
Landlords cut prices, share taxes, and help buyers save on agency fees
Landlords who have finally managed to sell their houses recently, their experience is one word: lower prices.
A netizen posted that a friend of his had finally sold a house in Zhonghai Wisteria Garden, Sandun, after 17 months. This friend listed the house for sale as early as the second half of 2021, with a construction area of 90 square meters and a listing price of 3.85 million yuan. At first, the friend felt that the listing price was very sincere and he would definitely be able to sell it. “The listing price of houses of the same type in the same community is basically 3.9 million yuan. My heart is relatively flat, and it should not be difficult to sell.” There are very few viewers.
The netizen had persuaded the friend that house prices might continue to fall in the future, but the friend didn’t think so, and instead thought the netizen was an “air force”. In the end, the downturn in the market slapped this friend in the face. After that,In order to sell the house as soon as possible, he had to lower it again and again, and finally the house was sold for 3.12 million yuan. This is a full 730,000 yuan lower than the original listing price, and the transaction price is 34,600 yuan.
“I just sold the old dilapidated house in Hangzhou Sijiqing at a reduced price.” A landlord in Xizhao New Village, Shangcheng District said that his old dilapidated house has a building area of less than 50 square meters, two bedrooms and one living room with a balcony. The second floor is the school district room of Caihe No. 2 Primary School. Even if it is a house in a prestigious school district, the house has been listed for half a year.The landlord watched the house price fall from 2.5 million yuan to below 2 million yuan, and finally sold for 1.98 million yuan, with a unit price of less than 40,000 yuan.
A netizen commented that he lived in a 57㎡ house in the neighborhood next door.The listing price dropped from 2.45 million yuan all the way to 1.88 million yuan before it was sold, and the unit price was less than 33,000 yuan.
A landlord in Wocheng in the south of Xiaoshan said that in addition to reducing the price, he is willing to bear the taxes and fees involved in the second-hand housing transaction with the buyer. In order to reduce the buyer’s transaction cost, he will also find a familiar intermediary to help the buyer save the intermediary fee.
Photo by Lou Xiaosang, Chao News reporter of Hangzhou No. 1 Hospital
It is difficult to sell high-end improved residential areas with relatively active transactions
As of May 22, the transaction volume of second-hand housing in the urban area of Hangzhou (including Lin’an and Fuyang) was only 4,300 units. It is expected that the final transaction volume in May will be around 6,000 units, which is a sharp drop from the tens of thousands in March. While the transaction volume is sluggish, the number of second-hand housing listings is high. As of May 23, the number of second-hand housing listings in Hangzhou urban area (including Fuyang and excluding Lin’an) exceeded 210,000.This means that the transaction volume of many second-hand housing communities has been at a low level recently, and many communities have not even had housing transactions for several months.
Shang Guanjian, director of the Hangzhou Shell Research Institute, said that the transaction volume of second-hand housing exceeded 10,000 units in March, reaching a high point. Volume comes first and price comes later, and the transaction volume keeps falling, so the price of second-hand housing can only naturally fall.
However, while the old and just-needed communities are hard to sell, the transactions in the sub-new and high-end improved communities are relatively active, and the prices are relatively firm. For example, Hangzhou No. 1 Courtyard, a popular new house for Olympic sports, has signed contracts for 14 suites in May. According to the transparent housing sales network, No. 1 Courtyard signed a contract on May 15 this year for a 222-square-meter house with a unit price of about 119,000 yuan. In addition, the price of improved housing in the Shenhua sector is also very strong, such as Greentown Jianfa Qinyuan, Hangzhou Jinmao Mansion, Yangyun Jingshe, etc., the contracted unit prices in the past two months are all in the range of 80,000 to 90,000 yuan. There is also the Nanxingqiao section. Sunac’s master Houchao Mansion signed a contract on May 20 for a house of 174 square meters, with a unit price of about 100,000 yuan.
Photo by Yin Mengyi, a reporter from Hangzhou No. 1 Hospital
In the new housing market, there is also a differentiation phenomenon of mediocre sales of just-needed housing and hot registration of improved real estate in core areas. After the May Day holiday, among the more than 30 real estate projects that have been launched, two real estate projects are restricted for sale. One is Hangyao Land Center in the Shenhua sector, with a winning rate of 9.94%; the other is Hangcheng Mansion in the Qianjiang Century City sector. The rate is only 8.3%, and the total price of the houses exceeds 8 million yuan. However, Liuyao’s real estate projects are concentrated in just-needed sectors such as Daicun, Donghu New Town, and Ningwei, where purchase restrictions have been relaxed.
“Now everyone has formed a consensus, which is to sell poor assets and replace them with high-quality assets. This is especially true for houses. Many people want to sell their old houses and replace them with new ones in the core area. Or high-quality sub-new housing, which not only improves living conditions, but also preserves value. It is precisely because of this that there are a large number of newly-needed sub-new housing listings in old communities and suburban areas, and prices are falling, but demand for improved sub-new housing in core areas is strong, and prices are relatively firm. “A person in the real estate industry said so.
Authors of this article: Xu Shujing, Wu Jiayi, Sun Chen, source: Chao News, original title: “Hangzhou Landlords’ Anxiety: My second-hand house can’t be sold”
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