Industry: The property market enters the downward channel
[Epoch Times September 23, 2021](Epoch Times reporter Liu Yi comprehensive report) Each year, September and October are the traditional peak seasons for property sales in mainland China, which are called “Golden Nine and Silver Ten” by the industry, but this year’s property sales are cold , The first-tier cities Beijing, Shanghai, and Shenzhen saw a 60% drop in property sales during the Mid-Autumn Festival holiday this year. Some experts predict that this year’s “Golden Nine and Silver Ten” will be the most deserted year in many years.
September 19-21 is the Mid-Autumn Festival holiday this year. People in need of housing will use this time to inspect houses and buy their favorite houses, but this year’s mainland property market is extremely deserted.
According to data from the China Index Research Institute, during the Mid-Autumn Festival this year, the transaction area of commercial residential buildings in some key monitored cities fell by 69% compared with the same period last year, and it also dropped by 39% compared with the low base during the Mid-Autumn Festival last year.
A total of 124,600 square meters of newly-built commercial residential buildings in Shanghai, Beijing and Shenzhen have been sold, down 65% from the same period last year. Among them, the transaction area of commercial residential buildings in Beijing was 30,100 square meters, down 64% year-on-year; the transaction area of commercial residential buildings in Shanghai was 69,200 square meters, down 69% year-on-year; and the transaction area of commercial residential buildings in Shenzhen was 25,300 square meters, down 49% year-on-year.
The second-tier and third- and fourth-tier representative cities are experiencing a colder real estate market. During the Mid-Autumn Festival in second-tier cities, the sales of commercial residential buildings fell by 70% year-on-year. Nanjing fell 72% year-on-year; Wuhan fell 66% year-on-year; Suzhou fell 75% year-on-year.
According to data from the AI Big Data Research Institute of Qulibufang.com, the trading volume of 26 key cities such as Beijing has declined to varying degrees year-on-year during the Mid-Autumn Festival this year.
Data from the key 10 cities monitored by the Zhuge Housing Search Data Research Center show that during the Mid-Autumn Festival in 2021, the transaction of new houses in the key 10 cities was 2,336 units, a decrease of 72.4% over the same period in August and a decrease of 82.1% over the same period last year.
“Hong Kong Economic Daily” reported on September 23 that Zhang Dawei, chief analyst of Centaline Property, predicted that this year’s Golden 9th Silver 10th will be the most deserted year in many years. Many real estate companies are under great pressure on the capital chain, which does not rule out the possibility of significant price cuts in the future.
The mainland securities decision-making system Fung Shun Finance’s analysis article on September 23 believes that the decline in sales is a manifestation, and the sluggish transactions are behind the difficulties faced by the real estate industry.
Editor in charge: Lin Congwen
.