Recently, Beijing and Shanghai have announced new property market policy adjustments, including lower down payment ratios, loan interest rates, and residential identification standards.
This initiative has been a huge success in the first week of the past week, and industry insiders have lamented that home buyers are becoming more and more rational.
According to data released by the Zhuge Housing Data Research Center, the property market in Beijing and Shanghai has shown signs of activity after the new policy, and the transaction volume has increased significantly.
In Beijing, for example, in the first weekend after the release of the new policy, the single-day transaction volume reached 364 units, an increase of 89 units from the average02%。
Among them, Wutong Xingchen sold 318 sets within 30 minutes of opening, and sales may reach 1.7 billion yuan, becoming the main contributor to the day's trading volume. This figure is the highest daily volume since October.
In Shanghai, on the first day after the release of the new policy, the single-day transaction volume reached 558 units, and the next day it fell back to 419 units, which is still above average.
However, compared with another policy adjustment this year - recognising housing without recognising loans, the stimulus effect of this new policy may be relatively limited. The policy of recognising houses and not recognising loans reached its peak in September, which stimulated a significant increase in the property market.
The transaction volume of new houses in Beijing in August was 3,191 units, and on the first day after the implementation of the policy of recognising houses and not recognising loans, the single-day transaction volume exceeded 1,800 units, which is equivalent to half a month's performance.
However, the effect of the policy of recognising houses and not recognising loans gradually dissipated after a short period of time, and the transaction area in November was even worse than in August.
Similarly, the situation is similar in Shanghai, where the daily transaction volume reached 699 units on the first day after the implementation of the policy in September, but by October and November, the transaction area was not as good as in August.
This has raised skepticism about the effectiveness of the new policy. One of the key reasons is that consumers are becoming more rational and no longer blindly chasing property.
With limited income growth and a general belief that the property market will continue to decline, many people are no longer in a hurry to buy a home. Taking out a loan to buy a home means long-term debt and labor overdraft for the next two or three decades, while also limiting one's future spending power.
Against the backdrop of declining incomes and a downturn in the property market, people are cautious about buying goods that they know will depreciate, which is an unwise choice in the eyes of rational home buyers.
In summary, the property market is facing new changes, and home buyers are becoming more and more rational and more resistant to policies. **The new policies have released hope for the first-tier property market, but for developers, there will be a greater need to provide quality services and products to attract home demand in the future.
A new chapter in the property market has begun, let's wait and see!