It's not true what they say
– the rumor is that the island is down by $80,000 per square metre
On march 3rd, xinhua sanya (journalist zhang yongfung, zheng jianna), there was widespread interest in a report by the media that “the prices of houses on san phoenix island fell by $80,000 per square metre” and that the island was once again the focus of domestic and international attention. A journalist survey found that sanya city had recently experienced an increase in turnover and that prices had remained largely stable without significant fluctuations。
Phoenix island's house prices are not "deep."
Foreign media have recently reported that housing prices in phoenix have fallen sharply in recent months, exposing the vulnerability implicit in china's rapidly growing but sometimes unbalanced economy. The report quotes: “the local housing agent sun chul said that the prices of apartments on phoenix island, which had reached a maximum of $150,000 per square metre in 2010, are now priced at $70,000”
Journalists visited the building earlier. According to one of the directors in the office of the chairman of san phoenix development limited, the developer and seller of the building, the average price of san phoenix was maintained at around $70,000 per square metre last year, and the board of directors adjusted the price without significant fluctuations。
The company's brand director, lee wie, argued that the foreign media's so-called “fall” was calculated at the highest household price at which phoenix opened in early 2010. Li wei explained that at the beginning of the opening exercise there was indeed a very small amount of luxuries, and that the highest price was indeed 150,000 yuan per square metre. “this type of house and price is a very small number, and the main house of the building has remained stable at 50,000 to 80,000 yuan per square metre, depending on the floor, direction and landscape。
According to lee, some zhejiang tenants who purchased their homes in early 2010 sold them in markets such as second-hand house brokers because of financial chain problems, sometimes at prices even lower than those at the time. Prices, however, have remained relatively stable in terms of the overall sale of the building。
Sanya city's turnover has increased recently
It is known that sanya city has recently performed robustly, with trades rising and relatively stable prices。
As of 28 january, the sanya house search network data monitoring showed that 2801 units with an area of approximately 24. 27 million square metres had been closed in the city of sanya building, at an average value of $21,305. 78 per square metre. The volume of transactions rose by about 144 per cent over the same period, with the two-year limit on purchases having reached a high level in the past two years; the volume of transactions also increased by approximately 117 per cent over the same period。
As a result of factors such as the sanya spring house fair, the market price of the three sub-buildings rose during spring festival gold week, with a total of 518 commercial houses contracted from 11 to 17 february, with 160 more transactions being made; 51958 m2 of contracted area, with a 61. 25 per cent increase in the ring ratio; and an average transaction price of $33365 per square metre, with an increase of 38. 43 per cent. In addition, the 2013 sanya spring house fair, held during the spring festival, was visited by 183,000 visitors, and the city of sanya house continued to warm up with a large tourist tour。
“during the extended spring break, sanya real estate market turnover rose and sold better than the previous spring holiday.” the secretary-general of the sanya real estate association, liu qi, said that the turnover had increased by more than 100 per cent compared to the week before the spring festival, while prices had not changed significantly。
According to liu qi, in the current market situation, the average cost of buildings in the sanya metropolitan area is around $20,000, and some high-end buildings, such as seascapes, remain relatively high, the overall price is relatively stable and has not fluctuated significantly。
Expert: sanya prices were almost flat in 2013 steady
“the stock of commercial houses in sanya is now divided into several parts: part of the purchaser has only entered into a reservation agreement or a contract has not been filed, resulting in a certain proportion of the inventory; part of the business has been retained for use as a store, hotel, etc.; and part of the other part has not been sold for the time being, representing between 60 and 70 per cent.” according to liu qi, “but this does not mean that the market supply of the sanya building is larger than demand, and the price will fall”
Liu qi said that while the stock is around 700,000 square metres, the market demand is about 1 million square metres. “so, the entire san qaa building city is slightly larger than the demand and is in line with market rules.” liu qi said。
Liu qi said that the city as a whole was similar to last year's in 2013, with the “resource value” card, reflecting the quality and value of tourism real estate. “the situation in sanya city is somewhat different from that of other cities, not `golden and silver ten', but based on sanya's light season, which is why sales during the spring season were more abundant.” liu zhou said。
According to wang yiwu, president of the heinan institute of modern management, due to factors such as “article 5 of the state”, market prices in the sanya building were under greater pressure in 2013。
“the real estate in sanya is for the whole country and even the whole world. There is also a greater resistance to decline, which is related to national regulatory policy, local real estate policy in hainan, and national `dualization', including the purchasing power and quantity of homes bought by investors and speculators to sanya.” wang yiwu said。
Industry analyses suggest that prices will neither rise significantly this year, as was the case last year for the three asian cities as a whole, nor will they collapse; while other buildings in the south of the sea may fall slightly, but they will not fluctuate significantly。
