Shenzhen's comprehensive containment of rapidly rising house prices will further reduce the profits of developers.

In view of the rising property prices, Shenzhen is carrying out a comprehensive and meticulous long-term containment.

New housing price increase is limited, borrowing decoration prices encounter "ceiling", Shenzhen recently made further norms on the market price of new housing. Prior to this, Shenzhen introduced a reference price mechanism for second-hand housing transactions in February this year. Second-hand housing is not only based on the online visa price, but also refers to the surrounding first-hand housing price. Considering the linkage of first-hand and second-hand housing prices, new housing prices may also have an indirect impact on second-hand housing prices. Shenzhen's policy is considered to be an important measure with far-reaching impact in regulation and control.

Li Yujia, chief researcher of Guangdong Housing Policy Research Center, said, "Regulation and control policies have begun to move from fragmentation to comprehensive and overall decision-making, regulation and control has become more and more mature, and the Shenzhen version of the long-term mechanism has gradually taken shape." Second-hand housing reference price and new housing price linkage, there will not be a large area of first-hand and second-hand housing prices upside down. "

The number of first-hand residential listings in Shenzhen rose for two weeks in a row in the third week of May, while the overall listing price of second-hand housing fell for the first time, according to data from the Leyoujia Research Center.

The price limit for new housing has been further tightened.

It can be said that Shenzhen's policy is quite meticulous and has a strong maneuverability.

A reporter from the Financial Associated Press learned from the Shenzhen Housing and Construction Bureau (hereinafter referred to as "Shenzhen Housing and Construction Bureau") that the Shenzhen Housing and Construction Bureau recently issued the "Shenzhen Housing and Construction Bureau notice on further standardizing the sales price guidance for new commercial housing and business apartments" (hereinafter referred to as the "notice"). In principle, the price of new houses (including apartments) of the same type in the same lot shall not be increased. In addition, in order to circumvent the price limit, developers have turned pre-sale into spot sale, bundling high-price fine decoration contracts and other loopholes, this new deal has also been completely blocked, further curbing the possibility of a rapid rise in house prices.

According to the notice, the Shenzhen Municipal Housing and Construction Bureau has further standardized the sales price guidance for new commercial housing and commercial apartments, and launched the commercial housing pricing evaluation system.

According to the relevant requirements, the Shenzhen Housing and Construction Bureau examines the preliminary opinions of the Regional Bureau and the price recommendation report of the Research Center, and determines the project guidance price, which includes two parts: "blank price" and "maximum decoration price". The project of rough delivery shall be examined and approved by the Regional Bureau according to the semifinished product price; for the project of hardcover delivery, the decoration price shall be determined by the Regional Bureau according to the decoration list and shall not exceed the maximum decoration price. Especially for projects with high social attention, the guiding price shall be examined and determined by the meeting of the Real Estate Regulation and Control leading Group of the Municipal Housing and Construction Bureau.

For more details, quite detailed provisions are made in an attachment to the "Price guidance rules and procedures" of the notice. The reporter obtained the contents of this attachment from reliable sources. The "Price guidance rules and procedures" show: "in accordance with the relevant provisions of our city's real estate regulation and control policy, the approved sales prices of commercial housing and commercial apartments for pre-sale and on-the-spot sale in our city shall not, in principle, exceed the net tag prices of new houses of the same type and in the same location so far in the previous year."

Specifically for the four types of projects, first of all, for the projects developed by stages, if the interval between the two applications for price filing is not more than one year, in principle, the reply shall be made in accordance with the previous filing price. If the application price filing interval is more than one year, you can re-apply for filing price approval in accordance with the pricing guidance process, but priority should be given to the net visa price of the previous project.

Secondly, the price guidance rules for commercial apartment projects are the same as those for residential buildings, but for commercial apartment projects without reference buildings around, we can comprehensively consider the quality and characteristics of the project. the sales prices of newly-built commercial houses and commercial apartments in the region are converted, and in principle, the ratio of the net price of commercial residential and commercial apartments in the same period and the same project is adopted.

The reporter learned that the last round of price restrictions in Shenzhen since 2016, the current sale of houses is not subject to price restrictions, some developers in order to break through the price limits, thus turning to spot sales. In principle, the prices of projects that are pre-sold and resold are not allowed to be adjusted upwards. if the project has been pre-sold before the promulgation of the "Shenzhen eight articles" (October 6, 2016), the project can be appropriately adjusted according to market conditions after it is converted to current sale. however, it still needs to be re-approved in accordance with the price guidelines and the examination and approval process.

Finally, for sporadic sales of late-market projects, in principle by the District (New District) Housing and Construction Bureau, Qianhai Administration of their own examination and approval, and in the city real estate information system for the record.

The new price restriction policy in Shenzhen also specified the price of fine decoration to single digits for the first time. "in order to further strengthen the sales management of commercial housing and business apartments, and to prevent real estate development enterprises from raising decoration prices to raise house prices in disguise, which has an impact on the price level of our city's new housing market, all district bureaus are required to exercise overall control over the price of fine decoration on the basis of reviewing project decoration and decoration materials." The document says.

The Price guidance rules and process also clearly stipulates the gradient range of fine decoration price: if the average price of project blank is 60, 000 yuan per square meter (including 60, 000 yuan), the highest fine decoration price is 3000 yuan per square meter, 60, 000-80, 000 yuan per square meter (including 80, 000 yuan) is 4000 yuan / square meter, 80, 000-100000 yuan / square meter (including 100000 yuan) is 5000 yuan / square meter, The highest fine decoration price of more than 100000 yuan / square meter is 6000 yuan / square meter.

Due to the fine decoration price limit can not exceed 6000 yuan / square meter, which makes developers bind high-price fine decoration contract, in order to bypass the price limit method completely invalid.

Housing enterprises welcome the era of small profits

"this time the price limit policy is not only stricter, but also more detailed. The last round of price restrictions mainly restricted average prices, which led to a decline in house prices in Shenzhen from 2016 to 2018. This year, not only through the "double competition and double limit" transfer model to limit the price of houses sold in the future, but also through the same location, the same type of price restrictions to control the house price index. In addition, this time also made up for the current sale of houses, fine decoration policy loopholes. " Li Yujia told reporters.

According to the data monitoring of Leyou store, in the third week of May, the listing price of second-hand housing in Shenzhen fell for the first time, by 0.09%, and the listing price of second-hand housing in most areas was relatively stable. Among them, the number of houses with price changes within two weeks was more than 1832, accounting for 7 per cent. Of the houses with price changes, 57% were downpriced, down 1% from the week before last week (the first week of May).

At present, the sales market of new houses in Shenzhen is still in a hot state.

Of the five properties that are about to open, not only one can only be selected for registration in good faith, but can not be revoked after the registration is successful. With the upgrading of the points rules again, husband and wife's social security and personal income tax have set a maximum year limit, capped for up to 20 years, making it difficult for the so-called "social security tycoon" to find leaks.

However, compared with the popularity of the sales side, with the increase of the new price limit policy, the profit space of developers in Shenzhen will be further compressed.

On May 13 this year, in the first centralized land supply in Shenzhen, Longguang won the Guangming Land at a premium rate of 45.07%. The floor price is 36757 yuan per square meter. After completion, the average sales price of commercial housing shall not be higher than 48900 yuan per square meter (excluding interior decoration). Excluding the cost of Jian'an and other costs, the profit margin is expected to be only 12143 yuan / square meter. Kaisa won the Jiangang Hill site with a floor price of 69967 yuan per square meter, which is only 16% higher than the sales limit of 83265 yuan per square meter.

A middle-level manager of a TOP10 real estate company told reporters, "several plots of land supplied by Shenzhen this year, excluding the various costs of Jianan, there is only a small space between the floor price and the limit price, so it is likely to lose money and make a profit." Plus phased development does not allow price increases, developers want to make money in Shenzhen can only rely on their own ability. "

Under the low profit, the developer had to speed up the turnover, so there was a dramatic scene of "Kaisa just finished shooting the land of Jiangang Mountain in Baoan at 3: 00 and the excavator entered at 5: 00".

"Shenzhen is now selling land for a small profit, and it also limits prices and decoration fees. in addition, since the beginning of this year, there has been a shortage of funds, rising financial costs, rising building materials costs and labor costs, so we can only have a high turnover speed. The quality of such commercial housing can only be determined by conscience. Every time a land auction, the least need to care about is the land of the real estate companies, because the high price and small profit is equivalent to buying their own funds to manage their finances on a regular basis. " The head of an urban renewal asset management company in Shenzhen told reporters.

"the last round of price restrictions, only limited house prices, not land prices, resulting in the final price restrictions difficult to sustain. This time, the land price-house price linkage limit, the front end limit land price, has laid the foundation for the back end limit house price, and under the 'double competition double limit' mode, does not appear the flour is more expensive than the bread, the price limit policy will persist for a long time, the developer's profit will be diluted, the development industry should prepare for the era of thin profit. " Li Yujia added.