Shenzhen used to be a hot second-hand housing market. After the introduction of the reference price of second-hand housing, it cooled down rapidly. This “sharp tool of regulation” is also used by more and more cities. It can be seen that the focus of regulation and control of the real estate market in many places has shifted to the second-hand housing market.
It is expected to be launched in many places
Second hand housing reference price
Since the beginning of this year, Shenzhen, Shanghai, Xi’an, Chengdu, Sanya, Dongguan and other cities have successively launched reference prices, controlled false high listing, improved second-hand housing online transaction prices and other measures for the second-hand housing market. For the reference price of second-hand housing, the housing and construction departments in Shenzhen, Chengdu and Xi’an issue the price, and the real estate agency association of Sanya establishes the release mechanism for the transaction reference price of second-hand housing in commercial districts.
Recently, Xi’an housing and Urban Rural Development Bureau issued the “notice on the establishment of the release mechanism of second-hand housing transaction reference price”, which makes it clear that Xi’an real estate transaction management center takes residential quarters as a unit, fully refers to the second-hand housing online transaction price, evaluation price and other factors, and forms the second-hand housing transaction reference price. Relevant institutions involved in all aspects of the second-hand housing transaction should take the reference price of the second-hand housing transaction as the reference basis, guide the rational transaction of the second-hand housing, and stabilize the market expectation. In addition, real estate brokerage agencies and real estate network information publishing platform should carry out self-examination on the listed houses and remove the second-hand houses with falsely high prices.
Since July 9, Shanghai has increased the verification of price information on the basis of listing verification. The Shanghai real estate transaction management department will check the supply of each house based on the real market price, and the houses that have not passed the price check shall not be released to the public. In the specific operation, the real estate agency and other institutions generally submit the relevant listing information to the official platform for verification. In addition to their own information such as the residential area and floor, they also submit the listing price for verification. If the submitted price is higher than the real market price of the community, it can not pass the verification, and the housing source can not be released.
Previously, there have been some “chaos” in the second-hand housing market in many cities, such as the collective “control panel” of community owners, speculators concentrated on buying some communities and raising prices. Thus, how to determine the price of second-hand housing, how to release, many places have begun to focus on the price of second-hand housing. Li Yujia, chief researcher of Guangdong housing policy research center, said, “starting from Shenzhen, the focus of property market regulation has shifted to the second-hand housing market. We should adapt to this change, because most of the key cities’ property market is dominated by second-hand housing. If we do not control the second-hand housing market, it will be difficult to control the price of new housing. For example, the price of first-hand and second-hand housing has been inverted in many cities, It encourages innovation and speculation. ” Li Yujia also said, “the key is that the government should improve the basic data and control the leverage of banks.”
Under the principle of “housing without speculation”, more cities may enter the era of “second-hand housing reference price”“ This shows that cities are becoming more and more meticulous in controlling real estate. ” Yan Yuejin, research director of think tank center of E-House Research Institute, believes that “for the second-hand housing market, price control is really necessary, and it is expected that other provincial capitals will join in the future.”
Second hand housing market
The inflection point of volume and price
Shenzhen has already launched the reference price of second-hand housing as early as February this year. Unlike other cities, the reference prices displayed by real estate intermediary stores and online platforms in Shenzhen are all at present. Banks also implement relevant policies. Buyers can only borrow at the reference price. Because there is still a common distance between the listing price, the actual transaction price and the reference price of the owners, As a result, the proportion of down payment has increased and the leverage ratio has naturally declined.
article links：Inflection point effect of Shenzhen property market
Reprint indicated source：Spark Global Limited information