BEIJING, Jan.4(Reuters)- Beijing's limited supply of competitive housing entered the market in 2019, driving up the volume of new homes, while second-hand housing volumes fell by% year-on-year, shifting from the \"seller's market\" to the \"buyer's market.\"
The limited competitive housing refers to the limited commercial housing sold within five years, and since 2018, the supply of limited competitive housing in Beijing has continued to increase, adding 20,000 units a year on the basis of the supply of original commercial housing.
Beijing's massive entry into the market has led to a rise in the volume of new homes, with statistics from the Central Plains Real Estate Research Center showing a total of 36,695 new commercial residential units (including restricted housing), up 57 per cent year-on-year, in 2019. Limited competitive housing is the main transaction in Beijing property market in 2019, with a total of 24845 units sold, and limited competitive housing accounts for 70% of the market supply in the last two years.
Because of the \"blowout\" of Beijing's limited supply of competitive housing, the inventory of Beijing's commercial housing (including restricted housing) is at its highest level in nearly eight years. Zhang Wei, chief analyst at Zhongyuan Real Estate, said the inventory backlog in Beijing's property market was linked to credit policy in addition to the increase in the supply of competitive housing.
According to mr zhang's analysis, the average single set signing amount is about 5.3 million yuan (rmb, the same below), and the down payment is based on 40% of the first suite and 80% of the second suite, which makes the market as a whole into the situation of destocking. In the stock pressure and housing enterprises to increase the demand for funds to enhance the dual role, buyers wait-and-see sentiment.
Beijing's second-hand housing market in 2019 also stepped into the downward passage, with statistics from the Shell Institute showing that Beijing's second-hand housing signed up to 10,000 units, down% from 2018.
Shell Research Institute on March 17,2017 in Beijing to implement the strictest property market regulation and control policy as a watershed, statistics before and after the regulation and control of second-hand housing transactions data: regulation and control of the former second-hand housing monthly turnover of ten thousand units, after the regulation of the monthly turnover of ten thousand units, trading volume almost \"halved \". In the three years since the regulation, second-hand housing turnover has remained low at about 150,000 units a year, down nearly half from the 2016 peak of 270,000 units.
Second-hand housing prices after the regulation also fell along the way, shell data show that in December 2019, the average transaction price of second-hand housing in Beijing is 10,000 yuan per square meter,12% lower than the historical peak of the month of regulation and control, Beijing second-hand housing prices in late 2019 is no longer \"mainland first \".
From the regional performance, before the regulation, Tongzhou, Daxing, Mentougou and other areas second-hand housing prices rose significantly. And after the regulation, the central city housing prices are strong, showing good resilience, compared with the first quarter of 2017, the price of second-hand housing in Xicheng District fell less than 6% in the fourth quarter of 2019, Haidian, Dongcheng, Chaoyang and other districts also relatively small decline in house prices.
In the strict housing market regulation policy, buyers into the wait-and-see period, the transaction cycle is also elongated. Shell data show that it takes an average of 40 days for buyers to buy a home before regulation, and more than three months after regulation, and the customer's rapid turnover rate has fallen from 64% to 36%.
It is worth noting that buyers'position in the transaction is gradually rising, reflecting the bargaining space of their price negotiation power from less than 2% before the regulation to 5% at the end of 2019, and the second-hand housing market in Beijing is changing from the seller to the buyer.
In 2019, the Beijing second-hand house market \"after 80\" occupied half of the mountain, I love my home research institute statistics show that the purchase of housing customers\" after 60\" accounted for%,\" after 70\" accounted for%,\" after 80\" accounted for%,\" after 90\" accounted for%, other years of customers accounted for%.
In 2020, in the fourth year after beijing's second-hand housing market stepped into regulation, shell research institute analysis that the property market policy will not be loose, market expectations are stable, continue the low trend. Beijing's second-hand housing volume is expected to remain stable at around 150,000 units this year, with prices fluctuating within 5%.
I love my research institute that the real estate market will still be \"stable\" in 2020, real estate regulation and control under the principle of \"rent and purchase simultaneously\" is expected to be moderately relaxed. (end)