According to the latest real estate market report released by the china news agency's beijing (journalist) shell institute on september 1, august, the national market for land and second-hand houses in key cities has almost completed the rehabilitation of the epidemic, all of which cumulatively resulted in positive transactions. Among them, the trade in second-hand houses in beijing rose, and rents in rental housing rose for three months。
The beijing rental market has warmed up and rents have risen for three months in a row. According to the report, in terms of turnover, the beijing rental market continued to warm up in august, rising by 12. 2 per cent, exceeding the may level, making it not only the highest month since the beginning of this year, but also the peak since 2019。
In terms of prices, rents in the beijing rental market continued to rise for three consecutive months in june, july and august, after falling from may. In august, the average rent on the beijing rental market was 86. 6 yuan per square metre, a 0. 5 per cent increase in the ring ratio and a 1. 0 per cent decrease over the same period。
The industry expects that the impact of the epidemic on the rental market will gradually diminish, as demand from the renting season and the graduation season are gradually released, and that the market will return to normal levels in september, with a possible fall in market heat。
In second-hand houses, in august, the turnover ratio in beijing grew by 7. 2 per cent, or 49. 6 per cent over the same period. According to the report, in january-august, the trade-off in second-hand rooms in beijing was almost at the same time last year, the trade-off cycle between buyers and sellers had been reduced to the lowest level in the year and the impact of the previous epidemic on the market had largely been reduced。
It is a matter of concern that the market for new housing in the city ring was the fastest recovered, with reports indicating that by the end of august, the cumulative reduction in the city ring trade had been reduced to -2. 5 per cent the same year and the market had largely recovered. At the same time, in the previous eight months, the cumulative area of the residential land market in beijing was transferred from negative to 6 per cent。
The second-hand chamber in beijing has been reduced to its minimum annual level. Reports indicate that in august, the ring-cycle ratio of second-hand tenants in beijing was reduced by 3 to 96 days, and the ring-cycle ratio leading to the production-cycle was reduced by 6 to 121 days. Although the buyer-seller transaction cycle remains high compared to the same period last year, it has been reduced to the lowest level in the year, which is essentially the same as in december 2019。
The industry expects that the trade in second-hand houses in beijing will remain on the upturn in the future, with only limited growth, with more transactions based on rigid demand and a steady rise in the market。
