A year ago, the city of Dongguan in Guangdong province announced that the city would lift purchase restrictions in an effort to boost the real estate market. However, on the occasion of the one-year anniversary of the lifting of purchase restrictions, the performance of Dongguan's property market was not as optimistic as expected.
Recently, a netizen's request for help on social platforms has attracted widespread attention. The netizen bought a 96-square-meter house in Songshan Lake, Dongguan in November 2020, which cost 572 at that time60,000 yuan, including tax, a total of more than 6 million yuan. However, due to the non-payment of the monthly payment for half a year, the bank has informed it that it needs to repay the loan as soon as possible, otherwise it will face court proceedings and property auction. At present, the **market** has fallen to about 2.7 million yuan, and even if ** is successful, it still owes about 1.2 million yuan to the bank after deducting the down payment, which puts this netizen in a predicament.
This case reveals some problems in the current Dongguan property market. According to the data of the intermediary, the real estate is located in the north of Songshan Lake, and there are more ** in the first and second phases, and the owners are under great pressure to sell the house. Among them, the listing price of a three-bedroom with an area of 90-97 square meters in the first phase for sale is between 2,783,280,000 yuan. Although there are only 3 sets of ** transactions in the past 90 days, the number of shows is relatively high, showing that the market is cold.
An intermediary revealed that a set of 96 square meters in the community was recently sold at 3.15 million yuan, compared with 6 in the peak period30,000 square meters, ** a sharp decline. In addition, there are so-called "high ratings, high loans"** in the market, where the bank appraised price is higher than the actual selling price, enabling buyers to achieve a low or even zero down payment to buy a home. However, several industry insiders have warned that this practice carries a high level of risk and may involve irregularities and criminal offenses.
According to the statistics of the Hopewell Research Institute, although Dongguan fully lifted the purchase restriction in December last year, the market performance has not improved significantly. Both the new and second-hand housing markets are facing greater sales pressure, especially the second-hand housing market is generally reduced in price, and the competition for selling houses is fierce. In November this year, the Dongguan Housing and Urban-Rural Development Bureau issued two new real estate policies, aiming to activate the demand for housing of different groups and adapt to market demand, but the market confidence and wait-and-see sentiment are still strong.
Li Xingwang, a senior analyst at the Hefu Research Institute and general manager of the Dongguan Company Development Research Center, said that the current second-hand housing sell-off in Dongguan is serious, and the housing prices have generally fallen by about 3 percent. He believes that the demand for real estate investment has almost disappeared during the market downturn, and the biggest problem at present is the lack of market confidence, so the relaxation of purchase restrictions has little impact on promoting transactions.
On the whole, this year, Dongguan's new housing and second-hand housing markets are in a state of over-falling, especially the phenomenon of second-hand housing "over-falling" is particularly serious. Although it is expected that the economy will continue to recover by 2024, the transaction volume will increase, the house price is expected to stop falling, and some of the over-falling ** may rebound**, but the current market challenges are still severe.
In this special period, the story of Dongguan's property market provides us with an in-depth window to observe the dynamics of the real estate market. It sheds light on the impact of market volatility, policy adjustments, and consumer confidence on the housing market, as well as questions about homebuying risks, financial regulation, and future market trends.
So, what do you think about this?Welcome everyone to pay attention and leave a message in the comment area to discuss!Let's work together to ** the current situation and future of the Dongguan property market, as well as its impact on our lives and social economy. Understanding the complexities and challenges of the real estate market is critical for us to make informed decisions and plan for our future lives in these rapidly changing times. Dongguan owners sell 6 million houses for 2.8 million, and no one wants them