“in mid-august, a draft of the immovable property registration regulations was consulted. Since the regulation of real estate registration is one of the conditions on which the tax is based, a number of people believe that it could result in large-scale sales and frustrations in house prices. However, journalists have learned from the beijing second house intermediary that the market has not been significantly affected by the opinion, and that there have been signs of a return to warming in recent times.”
In mid-august, the provisional regulations for the registration of real property (advisory drafts) were published and the establishment of a unified immovable property registry system is moving forward at an accelerated pace. I love the vice-president of my group, hu kyung-chul, who believes that for the real estate industry and the market, on the one hand, the regulatory and regulatory failures that will result from the lack of information in the past and the inability to map the base will change, making future market regulation more targeted, and, on the other, will lay the foundation for the introduction of property taxes, such as property taxes, and inheritance taxes。
If this logic were to accelerate the process of unified registration of real estate, it would also enable some families with multiple properties to sell their vacant properties as soon as possible. Are there any such signs in the beijing market? Journalists visited a number of intermediaries near the triple bridge, the grand view road, and the town of dae-yang, and the first line of practitioners felt intuitively that there had been no direct change in the city as a result of the registration of real estate. “it has been said that the large house was sold in large quantities, which was purely paper-based, and that the share of the large house was not too volatile.” liu, the real estate agent near daeha city, told the journalist。
According to zhang xu, the real estate registration in the real estate registry system is of great interest once it is introduced, as it relates to some sensitive issues such as “corruption”, “control of house prices”. However, in the light of the current situation, the publication is only a request for proposals, subject to numerous studies and validations, and the possibility of formalizing the policy in the short term is limited; secondly, the real estate tax is a complex and comprehensive tax, and the development of a specific scheme for its collection will require longer justification. There is no immediate impact on the real estate market。
The new room is ready for sale
In july, the national institute of statistics published statistics on housing prices in 70 large and medium-sized cities, showing that the price of new housing in beijing fell by 1. 3 per cent, for the first time since may 2012, and led to the first fall in the price of new housing in the first-line city。
Compared to the july data, data on new homes increased in the first half of august and prices fell. According to the beijing municipal housing construction commission, the number of new homenets in beijing is 43. 89, an increase of 18. 02 per cent from the second half of july and 77 per cent from the first half of july. With regard to the sale price, the average for the first half of a month's net residential housing stock (excluding guaranteed housing, commercial rehousing) was $20781 per square metre, which was 16. 1 per cent lower than the average for the second half of july, and 15. 2 per cent lower than the same period last year。
Is the new house price in beijing really going to change the trend? In fact, there are two main reasons for the drop in the average price of the deal in beijing, the first being the large-scale entry into the market of the home. Between the end of last year and the beginning of this year, large quantities of housing began to be requisitioned and selected, at a minimum price of 30 per cent less than the cost of the surrounding commercial housing. Some developers who are eager to pay back will also refer to the price of their own housing when pricing new housing, so as to avoid falling into a situation where housing prices are set too high。
The project, east asia impressive lake housing and office products, located in tsai lake, had recently jumped significantly, with 50 units of office and residential products being sold at special prices, including a direct reduction of residential products from $4,000 per square metre to $18,900 per square metre and office products from $6,000 per square metre to $14900 per square metre. In addition, huanco has drawn up 10 sets of special-priced housing sources in the south four circles (5. 51, 0. 13, 2. 42 per cent) at a total cost of 2. 1 million per room per room of 32000/m2; 2 rooms of 3 88 square metres at a total cost of 2. 6 million dollars per room of 29,000 square metres; and 2 rooms of 4 82 square metres at a direct rate of 200,000, a discount of 6 per cent. While there are reasons for marketing and tailings clean-up, it is a strategy that most developers have pursued since the beginning of the year to open up at a fair price and save at a price。
The second reason is the suburban effect. According to statistics, in the first half of august, there were 1910 flats, 1217 flats, 701 flats in thongzhou, 216 flats in haoyang and 132 flats in the five regions of beijing. These five regions accounted for more than 80 per cent of the market transactions during the cycle. In the past few years, hashiyama, the city of beijing, has been the most famous price low, and the developers have now entered the market after concentrating their land, and the market prices themselves are low, thus lowering the statistical data on average。
The second-hand room is falling
In the first half of august, there was a marked gradual recovery in the trade-off of second-hand rooms in beijing. According to the beijing municipal housing commission, in the first half of august, there were 8,246 residential net signatures in beijing, almost the same as in the second half of july (8435), an increase of 41. 6 per cent over the first half of july. Of these, the number of second-hand residential nets was 3,857, an increase of 15. 4 per cent over the first half of july. In terms of transaction prices, the average second-hand house price, which i had in the first half of august, was $28,837 per square metre, down by 1 per cent from the average in july. This price is essentially the same as the same period last year。
The second-hand room is more reflective of the current situation in beijing than new houses are more susceptible to regional influence. I love my group's vice-president, hu kyung-hoon, who believes that, as a result of a combination of factors, the half-month second-hand market has shown a more marked downward rebound in the last 30 days, as evidenced by the closing of the market in the first half of august, while the average second-hand house prices are expected to continue after falling to around $28,000 per square metre, gradually stabilizing。
In the case of mankoyang, which is currently active, price construction is evident. Prior to this round-up, a two-bedroom unit of less than 90 square metres was set up at a height of about 2. 5 million, but the same household fell to about $1. 9 million at the beginning of march and april of this year, but after that, the buyout began to appear, with the total price rising by around 2. 15 million by august。
“in the light of this round of real estate adjustments, the most marked decline was seen in the previously larger suburbs, where the maximum adjustment was close to 25 per cent, a period in which a large number of viewers began to enter the market and the owners began to raise their prices, believing that the prices would rise back. Overall, there is still a 15 per cent gap between current housing prices and the highest points.” zhang zhang, the manager of the real estate agency in zhuanyang, told the journalist. Journalist, fan fai drawings/gulin photography/journalist, wong liang
Industry analysis
Why did beijing wait and see
What is it that relaxes the mood and finally decides to enter the city? According to hu, the ministry of self-inhabitation called for “to go to stock” from the macro-building market. Since then, there have been as many as 37 cities throughout the country that have eased and eliminated their purchase restrictions, and although the possibility of removing them in the first-line urban market is negligible in the short term, there is a clear willingness on the part of the government to move to a stable market to digest stocks. The second is the performance of the beijing market, which, after a steady decline in market turnover in the first half of the year, has not effectively released the demand-phase backlog and, as the prices of the new, second-hand, market prices have fallen, attracting some of the urgent demands to end the deal and to enter the market to buy. A number of people are concerned that the prices of their houses will once again be emptied and that they will begin to enter the market. Thirdly, the recent beijing-based support policy to direct demand to the city, while changing the expectations of home buyers, also served to direct demand to the city. The cumulative effect of such initiatives has been demonstrated, for example, by the further acceleration of lending by local banks in beijing, the adjustment of the efficiency of the grant of the provident fund and, in the near future, the adjustment of general housing standards。
Responsible editor: zhang dei
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