[Epoch Times, July 3, 2021](Epoch Times reporter Liu Yi reported) Data released by the Shenzhen Municipal Bureau of Housing and Urban-Rural Development on July 1 showed that the city’s second-hand housing transaction volume in June dropped month-on-month and year-on-year, and set a record last year. The lowest level since the peak of the epidemic in February. As of June, Shenzhen’s second-hand housing transaction volume has fallen for three consecutive years.
According to the Hong Kong Economic Daily News on July 2nd, in June, the second-hand housing transaction in Shenzhen was 2,575 sets, a decrease of 15% from the previous month and a year-on-year decrease of 76%.
Statistics show that, excluding February, which was dragged down by the epidemic, Shenzhen’s trading volume in all months of last year was above 5,000, especially from June to August, which reached 10,594, 13,407 and 11,322, respectively. However, since the authorities introduced the “guide price” for second-hand housing at the beginning of this year, the transaction volume has fallen month by month since March, and has fallen below 5,000, 4,000, and 3,000 in succession.
Yan Yuejin, research director of the Think Tank Center of E-House Research Institute, said that the policy control of first-tier cities is very strict. With the centralized supply of new buildings, the second-hand market is expected to cool down.
Commentator Wen Xiaogang said that the decline in Shenzhen’s second-hand housing transaction volume is entirely the result of China’s administrative measures interfering with the market, rather than the absence of market demand.
He analyzed that after the authorities introduced the guide price for second-hand housing, banks also issued loans based on the guide price, because the guide price is generally 70% of the market price or even lower, but the house price is still the market price, which is equivalent to increasing the number of buyers. The down payment for the purchase of a house, coupled with the increase in mortgage interest rates by the bank, has increased the burden on home buyers, making many people who just need a house have to give up buying a house.
He believes that, on the surface, the volume of house purchase transactions has declined, but the market demand is still there, but the threshold for house purchase is high, and ordinary people can’t make it through.
Wen Xiaogang also said that the CCP authorities’ increased suppression of the property market is mainly because they are worried that under the economic downturn and continued sluggish consumption, capital will continue to flow into real estate, which will cause blood loss in the manufacturing industry and make the people more moneyless, which will further drag down the economic recovery. .
Regarding the future trend of the second-hand housing market, Zhang Dawei, chief analyst of Centaline Real Estate, believes: “Second-hand property prices are still rising, but the increase is slowing down. It is expected that the decline in second-hand housing prices will continue in the second half of the year.” And the current housing loans in southern cities are no longer sufficient. The tightening is obvious, which will restrain market transactions in the future.
Editor in charge: Li Qiong
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