The turnover of second-hand homes in Shenzhen fell below 5000 units in April, the lowest level in nearly a year.
According to data from the Real Estate Information platform of Shenzhen Housing and Construction Bureau, in April, the turnover of second-hand commercial housing in the city was 541300 square meters (5507 units), down 24.87 percent from the same period last year, of which 440100 square meters (4877 units) were sold in second-hand commercial houses, down 33.26 percent from the same period last year and 28.16 percent lower than in March.
On February 8 this year, Shenzhen introduced a reference price system for second-hand housing transactions. Taking into account the lag time of one month's online visa, the volume of second-hand housing transactions in April can fully reflect the impact of the new policy on reference prices one month later.
From the perspective of the district, only the transfer of ownership in Longgang District exceeded 1,000 sets in April, but it dropped by 35% from the previous month, accounting for 26% in the whole city; 964 sets were transferred in Baoan District, down 25% from the previous month, accounting for 20% in the whole city; and the number of transfer of ownership in Luohu District closely followed that of Baoan District, accounting for 931 sets.
According to Leyou store monitoring data, Shenzhen in April newly added second-hand housing sales, second-hand housing belt and other indicators, all showed a slight decline. "this is closely related to the new policy of reference price, but the data of first-hand housing is more stable, affected by the backlog of market demand, and the number of new buyers has also increased." Le Youjia said.
The new housing market continues to pick up under the prosperous market situation of supply and demand. A total of 507800 square meters (5389 units) of new commercial housing were sold in Shenzhen in April, an increase of 28.07 percent over the same period last year, of which the transaction volume of newly built commercial housing was 353100 square meters (3502 units), an increase of 7.89 percent over the same period last year. According to Le Youjia statistics, as of the end of April, the city's new housing inventory area of 1.957 million square meters, the removal cycle continued to decline, has been less than 4 months.
From a regional point of view, among the 11 districts in Shenzhen (including the Shenzhen-Shantou Special Cooperation Zone), Baoan District and Longgang District are still the "leaders" of the elimination of new houses: in April, Baoan District ranked first in the city, accounting for about 28%. Longgang ranked second in the city, with 776 sets.
In addition, the apartment began to "pop up" in April. Data show that 1308 new commercial houses were sold in Shenzhen in April, up 18.16 percent from the previous month, and the transaction area was 87538.14 square meters, up 14.3 percent from the previous month.
A number of intermediary practitioners in Baoan District and Longgang District told the Financial Associated Press that many intermediary stores in their area have turned to promoting new houses in an all-round way. The reason is that the new house is still under the price limit, the supply falls short of demand, and the commission of the apartment is much higher than that of the house, so the new apartment has become the object actively recommended by most intermediary practitioners.
"We have only 1.5 points for second-hand housing, but five points for the new apartment we represent in Longgang." A housing agent in Longgang District introduced to the reporter.
A manager of an intermediary store in Baoan District said, "now the difference between the listing price of second-hand housing and the reference price is too big, the buyer's wait-and-see mood is still very strong, the commission of the apartment can reach 5-6 points, a considerable part of our energy is devoted to selling new apartments."
It is worth noting that the new financial regulation and control for second homes introduced in May may accelerate the decline in transaction volume in the second-hand housing market in Shenzhen.
On May 6, CCB Shenzhen Branch issued a notice that the first home loan interest rate is LPR+45BP (equivalent to 5.1%) and the second home loan is LPR+95BP (equivalent to 5.6%), which is higher than before by 15BP and 35BP respectively.
A large intermediary credit manager told reporters that there have been market rumors that other banks may follow CCB to raise interest rates.
However, in order to reflect the support for low-and middle-income people to buy affordable commercial housing, the interest rate of commercial housing loans remains unchanged, that is, the implementation of LPR+30BP (equivalent to 4.95%).
"protecting rigid demand and restraining two sets of loans is the basic logic of many banks in Shenzhen at present. For low-and middle-income people, if there is no inclusive housing financial support, provident fund is almost a drop in the bucket. When the real estate financial policy is tightened, it is necessary to ensure the stability of the first home loan interest rate and raise the second home loan interest rate. " The credit manager of the above-mentioned large intermediary said.
"the financial policy of Shenzhen is essentially a measure to stabilize the property market. When the transaction volume of the property market declines, the decline of the whole market may be faster if the preferential interest rate is not provided to buyers with rigid demand. " Li Yujia, chief researcher of Guangdong Housing Policy Research Center, told reporters.
