Mini Program: Daily real estate industry dynamics summary
1. China Index Academy: With the reform of real estate development financing methods, real estate funds may usher in new development opportunities
China Index Academy published a document stating that if the reform of the commodity housing pre-sale system is successful, professional real estate financial institutions will usher in new development space. The "Decision of the CPC Central Committee on Further Deepening Reforms and Promoting China's Modernization" proposed to reform the financing methods of real estate development and the commodity housing pre-sale system. At present, my country's real estate financial system includes real estate development loan system, commodity housing pre-sale system, housing provident fund system, housing mortgage loan system, etc. The emergence and development of the real estate financial system has greatly promoted the development of the real estate market, but it should also be noted that in the past few rounds of real estate market cycles, the adjustment of real estate financial policies has also brought certain negative effects. Frequent changes in policies have led to large fluctuations in the market and expectations. The effectiveness of the housing provident fund system has not been fully utilized (such as failure to complement commercial loans), and some consumer loans that bypass supervision have flowed into the real estate market.
2. After 8 years, Shanghai once again produced the most expensive land in China, with a floor price of 131,000 yuan per square meter
On the afternoon of the 7th, Shanghai Pudong New Area Real Estate Building held the fourth batch of centralized land supply activities this year. The xh128D-07 plot in Xietu Street, Xuhui District was finally won by Greentown at a total price of about 4.8 billion yuan, with a floor price of 131,000 yuan/square meter, and the premium rate reached the maximum limit of 30%. This plot broke the record of the most expensive land king in China auctioned by Rongsheng China in Shanghai in 2016. At that time, 17 real estate companies competed fiercely. After 426 rounds of bidding, Rongsheng China won the bid with a total price of 11.01 billion yuan, a floor price of 100,000 yuan/square meter, and a premium rate of 139%. It was the most expensive land king project in the history of domestic land transactions at that time. (Every Jingwang)
3. Ricacorp: Hong Kong's low-priced new properties continue to be launched, and the number of private home registrations in August is expected to reach 1,200
Chen Haichao, head of research department of Ricacorp Properties in Hong Kong, said that purchasing power has been gradually absorbed after the withdrawal of the stimulus package, and the high interest rates and the window period for developers to launch new projects have further shrunk the registration volume. It is expected that the continued launch of low-priced new projects will stimulate an increase in registration volume. It is expected that the registration of first-hand private homes in August will rebound strongly to more than 1,000 cases, or rise to 1,200 cases, a monthly increase of 55%, which will be a new high in the past three months.
4. Hubei Enshi: Promoting the "transfer of ownership with mortgage" of first-hand housing to protect the rights and interests of the innocent party
Enshi Tujia and Miao Autonomous Prefecture of Hubei Province issued "Several Measures on Continuously Promoting the Stable and Healthy Development of the Real Estate Market", involving 12 items including provident funds. The document proposes to reduce the minimum down payment ratio for personal housing commercial bank loans, adjust the minimum down payment ratio for the first home to no less than 15%, and the minimum down payment ratio for the second home to no less than 25%. Increase support for provident funds. Fully open up off-site loan support areas, and support employees who pay housing provident funds outside Enshi Prefecture to apply for off-site housing provident fund loans to purchase houses in Enshi Prefecture. Promote the "transfer of ownership with mortgage" for first-hand housing. For pre-sold commercial housing that has handled projects under construction and land mortgages, and for licensed commercial housing that has handled the first registration of newly built commercial housing and the establishment registration of mortgage rights, after completing matters such as mortgage sales, online signing, and final acceptance, the real estate registration agency can handle the "transfer of ownership with mortgage" for the parties involved. (The Paper)
5. Shenzhen Anju Group plans to collect commercial housing for use as affordable housing
Shenzhen Anju WeChat official account released the "Notice on the Collection of Commercial Housing for Use as Affordable Housing". The notice stated that in order to actively build a "security + market" housing supply system, follow the principles of "marketization, rule of law" and voluntary participation of both parties, the companies affiliated to Shenzhen Anju Group Co., Ltd. intend to carry out the work of acquiring commercial housing for use as affordable housing. Now we are collecting commercial housing for use as affordable housing projects in Shenzhen. The scope of this collection is residential, apartment, dormitory, etc. of commercial housing nature within the scope of Shenzhen (excluding the Shenzhen-Shantou Special Cooperation Zone), and priority will be given to building projects (housing sources) that are unsold as a whole building or unit and can be closed for management. In principle, the main apartment area of the project (housing source) should meet the requirements of the apartment type and area (less than 65 square meters) of affordable housing in our city. Convenient living. The surrounding transportation is convenient, close to subway entrances and bus stations, and has relatively complete infrastructure, living facilities and other livable conditions. The proposed acquisition project must have four complete certificates to ensure the legality and compliance of the project and meet the loan requirements of financial institutions.
6. Guangzhou and Shenzhen join the "purchase instead of construction" policy for affordable housing: the market has stronger digestion capacity, and analysts say Beijing and Shanghai are expected to follow suit
On August 7, Shenzhen Anju Group issued a "Notice on the Collection of Commercial Housing for Use as Affordable Housing". Yan Yuejin, deputy director of Shanghai E-House Real Estate Research Institute, said that the previous acquisition in Zengcheng District of Guangzhou was special, belonging to the "purchase instead of construction" in a specific area under a specific project; this time Shenzhen's collection of housing sources is carried out throughout the city, with a stronger demonstration effect and more signal significance. From this perspective, first-tier cities have started the "purchase instead of construction" model starting from Shenzhen, and it is expected that Beijing and Shanghai will follow suit. (The Paper)
7. Return to the 10,000 yuan era? Many properties in Dongguan are selling below land prices
Recently, some projects in the Dongguan Water Village sector, which has a weaker market presence, have once again become popular with a unit price of only 10,000 yuan per square meter. The first to start this round of price cuts was the OCT Yunrui Mansion project located in Mayong, Dongguan. Compared with the floor land price of 14,000 yuan per square meter, the unit price of 10,000 yuan per square meter is very attractive. Not only that, after further understanding, the housing sources it promotes are pure slab-type small high-rise buildings with one elevator and two households with high livability, and they are ready-to-move-in. In addition to the Yunrui Mansion project, Shoukai Xijiangyue, another state-owned enterprise developed in Hongmei, Dongguan Water Village, also put out a batch of houses with a unit price of only 10,600 yuan per square meter for sale. The floor sources are optional and come with fine decoration. It is understood that the above-mentioned low-priced houses are all worker-mortgage houses. "Worker-mortgage houses" refer to real estate developers using their properties as collateral to mortgage to contractors to repay the construction project payments they owe. In order to repatriate funds as soon as possible, the project party mostly sells the houses at low prices. (China Real Estate News)
8. Real estate: Prices of newly built commercial housing in 70 large and medium-sized cities have fallen back to the level of October 2019
Analysts said that in 2024, the price of second-hand houses in 70 large and medium-sized cities will fall significantly more than that of new houses. As of June 2024, the prices of newly built commercial housing in 70 large and medium-sized cities have fallen back to the level of October 2019, and the prices of second-hand houses have fallen back to the level of March 2018. In terms of the decline from the peak, the price of new houses has fallen by 7.5% from the historical high, and the price of second-hand houses has fallen by 15%. In terms of duration, the price of new houses has continued to decline for 148 weeks, and the price of second-hand houses has continued to decline for 152 weeks. Except for first-tier cities and a few hot second-tier cities, the second-hand houses in most second-tier and third-tier cities have fallen deeply. (Gangtise Investment Research)
9. Jiangxi Ganjiang New District: 2% housing purchase subsidy for new houses, and strengthen price control of "worker-relief housing"
On August 7, Jiangxi Province's Ganjiang New District announced a series of policy measures aimed at promoting the steady and healthy development of the real estate market. These measures include 28 specific implementation rules, with the main goal of reducing inventory, optimizing increments and stabilizing the market. According to the new policy, from now until June 30, 2025, buyers who purchase newly built commercial housing in the direct-controlled area of Ganjiang New District will receive a subsidy of 2% of the purchase contract amount if they pay the deed tax before June 30, 2026. This measure is intended to encourage home purchases and promote active transactions in the real estate market. In addition, the policy also places special emphasis on the control of the price of "work-discounted housing". It is required that the online signing and filing price match the average price of the community to ensure the rationality and fairness of the price. This regulation helps prevent price manipulation and market imbalance. At the same time, the housing and construction department of Ganjiang New District will strengthen the monitoring of commercial housing prices to ensure the stability of market prices. In addition, the housing and construction department will also cooperate with the court to reasonably determine the starting price of "foreign auction housing" to maintain market order and fair competition. The introduction of these policies and measures reflects Ganjiang New District's emphasis on the healthy development of the real estate market and its determination to supervise and regulate the market. Through the implementation of these measures, it is expected to promote the stability and sustainable development of the real estate market.
10. UK property survey agency sees sales surge after Bank of England cuts rates
British property surveyors expect a sharp increase in British home sales in the coming months after the Bank of England announced a rate cut. The Royal Institution of Chartered Surveyors said surveyors who assess properties are at their most optimistic level since early 2020 about sales over the next three months. Data from July showed that London was one of the regions where estate agents were most optimistic about future sales. Optimism about house prices across the country has also risen. The survey published on Thursday further pointed to a return of confidence in the British housing market after stubbornly high mortgage rates curbed a recovery in the first half of 2024. The two largest mortgage lenders said earlier this month that house prices were rising again after stagnating earlier this year.
11. Halifax: UK house prices rose in July at the fastest pace since January this year
Halifax, the UK's largest mortgage lender, said UK house prices resumed growth after three months of lull, increasing at the strongest pace since January, further indicating that the market is adapting to high interest rates. The data showed that the average price of an ordinary house in the UK rose 0.8% to 291,268 pounds (about 370,040 US dollars) in July, after no change in the previous three months. This shows that property prices are slowly recovering after last year's mild downturn. Last year's downturn was far less severe than economists warned. "We expect house prices to continue to rise moderately for the rest of the year," said Amanda Bryden, head of mortgages at Halifax.
12. U.S. mortgage rates fell to 6.55%, the biggest drop in two years
On August 7, U.S. 30-year mortgage rates fell significantly last week, falling to their lowest level since May 2023. The contract interest rate on a 30-year fixed-rate mortgage fell 27 basis points to 6.55% in the week ended August 2, according to data released by the Mortgage Bankers Association. At the same time, the interest rate on adjustable-rate mortgages, which lock in interest rates for the first five years, fell 31 basis points to 5.91%, the lowest level this year. The refinancing index rose nearly 16% last week to 661.4, its highest level in two years. Mortgage applications for home purchases rose 0.8%, the first increase in a month. The overall index of mortgage applications, which includes refinances and home purchases, rose 6.9% last week to reach its highest level this year. Falling mortgage rates closely track changes in U.S. Treasury yields. Treasury yields fell as expectations grew that the Federal Reserve could take aggressive interest rate cuts after a poor jobs report. While talk of a 50 basis point rate cut by the Federal Reserve at its September meeting has increased, policymakers may not take such a drastic cut. The average 30-year mortgage rate has dropped 0.74 percentage points from this year's peak of 7.29% in April. Additionally, home prices are still rising, putting pressure on potential buyers. If the number of housing listings can further increase, it may help control rising housing prices and stimulate the second-hand home sales market.
The article is forwarded from: Jinshi Data
