Spark Global Limited Reports:
The traditional “Golden Nine and Silver Ten” has arrived, but the second-hand housing market in Shenzhen has not improved. Since Shenzhen released the guide price of second-hand housing in February this year, the transaction volume of second-hand housing has continued to decline. In the past August, only 2,043 second-hand housing transactions in Shenzhen have been sold, a year-on-year decrease of approximately 81.96%. Shenzhen’s second-hand housing network has hovered at a low level, and the mindset of buyers has undergone subtle changes.
Shenzhen: second-hand housing transaction volume hit a record low
On September 13, according to a CCTV financial report, the property market has always said “golden nine silver ten”, and August is the prelude to this golden cycle, even if the transaction volume is not high, it will not be too ugly. The real estate agency store that Tan Quan is responsible for is located in Shenzhen Nanshan Science and Technology Park, where Shenzhen technology companies gather. This store has been the company’s performance champion before.
Image source: CCTV Finance
The manager of the Nanshan China Resources City store of a real estate company in Shenzhen talked about the full name. When we have a lot of transactions, a store can sell more than a dozen orders. At present, there may be only one or two orders a month. So far, I can’t see the feeling of “golden nine silver ten” in previous years. There are more than a dozen stores on this street, and one third of them are currently closed.
Tan Quan told reporters that there are still buyers who come to consult, but the main topic of consultation is the future market conditions, and after the inquiry, they will continue to wait and see. As a result, market transactions have stalled.
Tan Quan, manager of the Nanshan China Resources City store of a real estate company in Shenzhen, said that it was difficult for our owners to negotiate the price. Now, as long as the owners sincerely want to sell, they are still willing to lower the price by 10%. The total price is reduced by 100%. 10,000 to 2 million.
Image source: CCTV Finance
According to data from the Shenzhen Real Estate Information Network, in August 2021, only 2,043 sets of second-hand housing in Shenzhen were transacted, a year-on-year decrease of approximately 81.96%. In August, the daily transaction volume of second-hand housing in Shenzhen fluctuated around 80 sets, which were all lower than the average daily transaction volume of first-hand housing. However, in August last year, the daily transaction volume of second-hand housing in Shenzhen basically exceeded 400 sets, almost of that of first-hand housing. Three times more.
What is the reason for the continued sluggish sales of second-hand housing in Shenzhen? The reporter learned that the main reason is that Shenzhen has successively introduced multiple property market control policies since last year, which has curbed the enthusiasm for market investment and speculation in terms of funds, and poured cold water on the second-hand housing transaction market.
In addition, the reporter learned that many banks in Shenzhen are currently rigorously investigating the source of funds for house purchases, requiring at least 80% of the down payment to come from the buyers themselves or their immediate family members. In addition, since May this year, many banks in Shenzhen have begun to adjust their mortgages. Interest rates, the first home loan interest rate was raised from 4.98% to 5.10%; the second home loan interest rate was raised from 5.25% to 5.60%.