In Wuqing District, Tianjin, a striking phenomenon has attracted widespread social attention: the price of a once high-priced property in a real estate project called Beijing Peninsula has plummeted from 1.6 million yuan to 390,000 yuan.

This change is not just about the ups and downs of numbers, but more deeply reflects the current situation of the real estate market and the multiple factors behind it.

Shouchuang Real Estate has built several communities in this area, including Shelley Town, Menorca Town, etc. Each community has its own unique style and positioning.

However, both newly developed communities and mature communities, such as Xirui Kunting, face the problem of low occupancy rates.

At present, there are only more than 80 households moving in. Compared with the surrounding old communities, the occupancy rate is generally less than 60%.

When exploring the reasons for the decline in housing prices, it is not difficult to find the complex economic and social factors behind it.

On the one hand, the national real estate market is still in a period of adjustment, and coupled with the impact of the epidemic, people's confidence in the real estate market is generally not high.

On the other hand, the industrial transformation in the Beijing-surrounding area has not been completed. The existing highly polluting industries are being moved out, and the introduction and development of new industries will take time. This has directly led to a slowdown in population inflow and a sluggish real estate market.

The real estate market in the Beijing-surrounding area where the Beijing Peninsula project is located has entered a freezing period.

The report pointed out that housing prices in Xianghe, Hebei Province have even dropped to the point of being cut at the knee. Some owners, unable to bear the pressure of repayment, are willing to give away their houses for free just to help pay off their loans.

Real estate developers with heavy investments in the Beijing area are also facing bankruptcy and reorganization.

Market analyst Li Naichao pointed out that there are many reasons for the price drop and decline in transactions of such projects.

First, the overall national real estate market has not yet recovered; second, the development of the real estate market in any region needs to consider population and industrial issues.

There were many old industries in the Beijing-Tianjin-Hebei region, which have gradually moved out in recent years; and the development of new industries takes time, which directly affects population inflow and real estate market development.

Faced with such a market environment, even families with self-housing needs will face various challenges.

Although the prices of some properties have dropped to lower levels, attracting a certain number of buyers and tenants, the overall market remains sluggish and the future development prospects are still full of uncertainty.

Against this backdrop, the drop in housing prices in Tianjin’s first Beijing Peninsula project is just the tip of the iceberg.

It not only reflects the current severe situation in the real estate market, but also reflects investors' concerns about the future market trends.

This phenomenon provides important information for real estate investors, home buyers and market analysts, prompting them to make more prudent decisions.

For policymakers and industry observers, how to stabilize the real estate market, restore market confidence, support high-quality real estate companies, and improve local land finance are important issues currently facing them.

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