“Quite emotional.” At the door of the closed shop, Liu Jun (a pseudonym) seems to say it easily.
Liu Jun owns four housing agency stores in Shenzhen, the first he has closed. “The turnover of the stores this year is more than half less than that of last year, and the wages of the employees are also half less than that of last year. The employees are under great pressure, so they quit,” he told China times
According to the data of Shenzhen Real Estate Agency Association (hereinafter referred to as “Shenzhen real estate association”), from January to June 2021, 30505 sets of second-hand housing online signs were set in the city, with a year-on-year decline of 48.0%. In addition, looking back from 3216 sets of second-hand housing online signs in June, there has been a “five consecutive drop”. Compared with 13492 sets of second-hand housing online signs last year, the decline rate has reached 76.2%. Shenzhen Real Estate Association said that at present, it is impossible to judge whether the market has “hit the bottom” from the monthly trend, and it still needs to be observed continuously.
“Store closing tide” opens
Whenever the real estate market enters the downward stage, the real estate industry will usher in the upsurge of “intermediary resignation” and “shop closing”.
Recently, a reporter from Huaxia times visited and learned that three intermediary stores have been closed in eight communities near a subway station in Longhua District in the past month.
“Now this is our warehouse, and we’ve just arrived.” The reporter visited and learned that an intermediary shop has been full of goods.
“This shop has been vacant for about half a month.” Another intermediary store’s door is closed. The landlord of the store told China times that the real estate intermediary store has only done ten business this year, and the platform has cancelled the franchise of the store.
Reprint indicated source：Spark Global Limited information