Shenzhen implemented the policy of "recognizing houses but not accepting loans" for half a month, and the transaction volume of second-hand houses increased by 62% month-on-month.
It has been more than half a month since Shenzhen’s policy of “recognising a house but not a loan” was implemented. How is the market performance? According to monitoring by the Shenzhen Shell Research Institute, in the past half month, the number of second-hand housing views in the Shenzhen property market increased by 74% month-on-month, the transaction volume increased by 62% month-on-month, and the number of new customers increased by more than 28%. Shenzhen Shell Research Institute believes that the "Golden Nine" market in Shenzhen's property market has initially emerged.
The typhoon will not dampen the enthusiasm for house viewing
It is understood that Shenzhen previously implemented the policy of "subscribing to a house and a loan". The home buyer's family must have no house in Shenzhen and no loan record in order for the newly purchased house to be considered the first home, with a down payment of 30%. On the evening of August 30, the Shenzhen Municipal Housing and Construction Bureau issued a notice, officially announcing the follow-up implementation of "Recognize a house but not a loan": From August 31, when a household (including the borrower, spouse and minor children) applies for a loan to purchase commercial housing, and the family member does not have a complete set of housing in Shenzhen, regardless of whether the loan has been used to purchase a house, banking financial institutions will implement the credit policy for the first house.
After the policy adjustment was announced, many industry insiders said it was good for the market. Meng Fanzhen, marketing president of Le Youjia, believes that "recognizing a house but not a loan" is more in line with the actual real estate market demand, hits the current pain points of rigid demand and improvement, and can meet more reasonable needs for improved housing. In the context of major changes in the current supply and demand relationship, this optimization policy can further play a positive role in stabilizing expectations, but it will not bring about a significant rebound in housing prices.
According to statistics from the Shenzhen Shell Research Institute, market activity has increased significantly since the implementation of Shenzhen’s “House Recognition but Not Loan Recognition” policy. Even though Shenzhen has been affected by typhoons and rainstorms in the past two weeks, it has not “dampened” homebuyers’ enthusiasm for viewing and buying houses. Among them, the number of second-hand housing viewings increased by 74% and the transaction volume increased by 62% month-on-month in the previous 15 days (August 15-August 29, the same below). If compared with the same period last year, the increase was more than double. However, compared with the same period in 2019, when transactions were booming, the actual transaction volume has not yet reached half of that year's level.
According to statistics from Shenzhen Shell Research Institute, in the 15 days after the New Deal, the number of new listings increased by 28.1% month-on-month, and the number of new customers increased by 28.8% month-on-month. This reflects that driven by favorable policies, buyers and sellers have become more active in entering the market, providing effective support for the upward trend in transaction volume in the future.
Residential transactions worth nearly 10 million yuan increased
Shenzhen Shell Research Institute said that the current Shenzhen property market is still dominated by rigid demand transactions, but the demand for house replacement and improvement accelerated 15 days after the New Deal. Among them, the proportion of property transactions with a total price of 7.5 million to 10 million yuan increased by 3.8%, leading the increase in other total price ranges; followed by 2 million to 3 million yuan, an increase of 2.5% month-on-month.
In addition, 15 days after the New Deal, homebuyers tended to choose medium and large apartments, of which 60-90 square meters accounted for 48.6% of transactions, a month-on-month increase of 3.6%; followed by units above 144 square meters, accounting for 6.4%, a month-on-month increase of 0.8%.
Under the atmosphere of recent favorable policies and expected improvements in the property market, developers have become more enthusiastic about launching projects. Among them, on September 8, a total of 6 new projects were approved for pre-sale in Shenzhen, and the market was planned for the "Golden Nine and Silver Ten" in advance.
According to statistics from the Shenzhen Shell Research Institute, in the first half of September this year (statistical time as of September 15), a total of 11 projects (including talent housing and other types) in Shenzhen obtained wholesale sales, supplying a total of 7,009 residential units, a month-on-month increase of 325.8%, setting a new high in monthly residential supply in the first half of this year.
