In order to improve the circulation of second-hand housing and stimulate the sales of new houses, more and more cities have joined the ranks of "trade-in".
On December 22, Shenyang announced that there was a subsidy for "selling the old and buying the new" for real estate. From December 22, 2023 to March 31, 2024, within the scope of Shenyang City, the municipal finance will give a subsidy of 100 yuan per square meter for the purchase of newly built commercial housing for buyers who own their own houses and purchase a set of newly built commercial housing.
In fact, in recent times, many places have intensively followed up the "old for new" housing purchase in order to accelerate the release of replacement housing demand and activate market vitality.
Yan Yuejin, research director of the E-House Research Institute, pointed out that for developers, "trade-in" buyers sign new house subscription agreements in advance, which improves the certainty of housing sales and helps reduce the sales pressure of real estate enterprises. In the short term, "trade-in" is conducive to smoothing the chain of first-hand and second-hand housing and improving the activity of the property market. In the future, more cities may participate to promote the release of demand for improved housing.
More than 20 cities promote the "trade-in" of real estate
According to incomplete statistics from China Real Estate Network, since the beginning of this year, more than 20 cities such as Nanjing, Suzhou, Yancheng, Taicang, Lianyungang, Yangzhou, Nantong, Xuzhou, Ningbo, Lishui, Haining, Shaoxing, Yuecheng District, Jinan, Qingdao, Jining, Tai'an, Rizhao, Zibo, Shenyang, Liaoning, Wuhan, Hubei, Yulin, Guangxi and Xinjiang have all promoted "trade-in" related policies or activities.
At present, there are two main modes of "trade-in" for real estate in various places.
One is that the buyer, the developer and the intermediary company sign an agreement, the buyer determines the intention of the new house, and pays part of the deposit to the real estate company to lock in, and the intermediary company gives priority to the sale of the old house, and the buyer can buy the new house within the agreed period, and the developer will return the deposit.
At present, Wuhan, Suzhou, Shaoxing Yuecheng District, Yangzhou, Nantong, Nanjing, Ningbo, Jining, Jinan, Rizhao, Zibo, Tai'an and Yulin have all adopted this "help" model, which is also the most implemented model in various places.
The other model is to buy old houses by enterprises, and buyers use the best housing money for new houses. For example, Taicang, Yancheng and Haining have adopted this model.
According to the staff of the Taicang Municipal Bureau of Housing and Urban-Rural Development, the city's trial implementation of the "old for new" policy of commercial housing is to give the qualified ordinary commercial housing under my name to the designated state-owned assets company in accordance with the corresponding rules, and purchase the newly built commercial housing designated by the state-owned assets company. However, Taicang City also has certain requirements for old houses. It needs to be the stock of ordinary commercial housing with a construction area of less than 144 square meters within the city limits of Taicang City, and a set of stock commercial housing can only be replaced by a set of newly built commercial housing, and the total replacement price of the stock commercial housing shall not be higher than 60% of the total price of the new house purchased.
Yancheng encourages state-owned enterprises in various districts and cities to "sell old" houses as the object of raising affordable housing, while Haining encourages real estate enterprises to purchase stock houses of intending buyers, and gives 2% of the total purchase price of enterprises to financial subsidies for real estate enterprises to purchase stock houses.
Lianyungang is carried out in two ways at the same time. While supporting "sell the old for the new", explore new ways. For development projects that have been transferred but not constructed and include affordable housing, it is allowed to pay the construction fee for the relocation of affordable housing, and the state-owned enterprise platform will purchase the "old" houses as affordable housing or talent housing within a time limit, so as to ensure that buyers have no worries about "replacing the new".
Differentiation of landing effects.
On the whole, many cities have intensively followed up and introduced "trade-in" services or policies, which can help customers in need to quickly replace them to a certain extent.
However, due to the current real estate market environment, the momentum is slightly insufficient, and the implementation effect of "trade-in" related policies in various places is also differentiated. Only a few cities have seen some improvement in the property market, while the effect in most cities remains to be seen.
For example, driven by policies such as "trade-in", the Nanjing market has recovered. According to the previous news of "Nanjing real estate micro-government", on September 7, Nanjing took the lead in implementing six new measures to promote the development of the real estate market in similar cities. Since the implementation of the new policy, the vitality of Nanjing's real estate market has been continuously improved, and the average daily subscription of new commercial housing and second-hand housing have increased by 51% and 10% respectively compared with before. In October, the area of new homes subscribed increased by 2 month-on-month4%, a year-on-year increase of 127%；The transaction area of second-hand houses increased by 13 month-on-month9%, a year-on-year increase of 322%。
After Nantong implemented the policy in September, the property market data in October also improved to a certain extent. According to the data of Tongce Research Institute, 344 new commercial houses were sold in the main urban area of Nantong in October, an increase of 76% month-on-monthThe transaction area and transaction value reached 4430,000 square meters and 95.8 billion yuan.
A real estate salesperson in Jinan said that the "trade-in" policy has achieved good results since its launch, and there have been many transaction cases.
A person in charge of Ningbo real estate brokerage said that at the beginning of the event, more than a dozen were received every day, and there is still a lot of replacement demand in the market. However, the person in charge said frankly that some projects in Ningbo that are not easy to sell are now willing to cooperate with the "new purchase" activity, but some real estate sales are good, so there is no need to participate. At the same time, the person in charge did not show too optimistic feedback on the actual situation and data.
A research report by CRIC pointed out that in the current situation that it is difficult to decentralize new houses, the number of second-hand housing listings is high, and the transaction volume has not improved, many cities such as Zibo and Haining have not seen great results in implementing this model.
At the same time, the staff of some urban real estate agencies also reported that there were more people who consulted in the first few days of the policy, and basically all of them were customers with improved housing needs, but the effect of the policy remains to be seen.
According to the analysis of relevant industry insiders, the effect of the "trade-in" policy is not obvious, mainly because, first, the current number of second-hand houses listed in many places is at a high level, and the difficulty of second-hand housing has increasedSecond, for development enterprises, after buyers lock in new houses, the transaction cycle may be extended, which also leads to the promotion of new house sales is not obvious. In addition, residents' employment and income expectations have not improved significantly, and there are optimization expectations for core city policies, resulting in a wait-and-see sentiment among home buyers, and multiple factors affect the slow recovery of the market.
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Article**: China Real Estate Network