Recently, Jiangyin, Jiangsu, Yueyang, Hunan and other places have issued policies or interviewed related enterprises on issues such as price reduction by developers. According to the statistics of Central Plains Real Estate Research Center, more than six cities have done this recently, including Tangshan, Shenyang, Heze, Kunming, Jiangyin and Yueyang.
Data map: the property market. China News Service reporter ZhangChang photo
For example, Jiangyin City proposed that low-price dumping (such as below the cost price, disguised price reduction, etc.) is strictly prohibited. ) and resolutely put an end to vicious competition, lowering standards and quality, overdue delivery and other illegal acts. If the circumstances are bad, all pre-sales in batches will be cancelled and existing homes will be sold instead.
In addition, according to local media reports, Yueyang, Hunan recently proposed that the sales price of new houses should not be lower than 85% of the filing price.
Changchun also issued a document before, requiring real estate enterprises to reasonably declare the pre-sale price of commercial housing and publicize it, and the actual sales should not be less than 10% off.
It is not the first time to limit the decline in the price of new houses. In 20 14, when the property market was adjusted, Hangzhou stipulated that the actual transaction price of commercial housing was lower than the record price 15% or more, which would be restricted from online signing.
20 17 Zhongshan city, Guangdong province made it clear that the actual sales price of commercial housing is higher than the record price or the downward fluctuation rate exceeds 15%, so online signing is not allowed.
In 20 19, Maanshan city, Anhui province stipulated that the price of new houses should not be lower than the filing price 10%. At that time, Dalian also demanded that the actual online signing and filing price of new projects should not drop by more than 5%.
Cities with a strong momentum of rising house prices naturally do not need to "limit the decline". In most places where "price limit orders" will be issued, the inventory pressure will increase and the real estate market will have an inflection point.
Take Yueyang, Hunan as an example. According to the data released by the National Bureau of Statistics, the price of new houses in Yueyang dropped by 0.7% in July, which is the place where the price of new houses dropped the most among 70 large and medium-sized cities. In the same month, Yueyang's second-hand housing prices also fell by 0.6% month-on-month, second only to Nanchong among 70 cities. In addition, Kunming, Yueyang and other cities have also exposed the news that the prices of several new housing projects have dropped sharply since the second half of the year.
Zhang Dawei, chief analyst of Zhongyuan Real Estate, said that the regulation of the property market has been overweight this year. From the New Deal of Yaohao in Hangzhou, to the purchase restriction of divorce in Beijing, and then to the time when talents in many places settle down to buy a house, all kinds of loopholes in the past are being blocked one by one. Coupled with the tightening of financial side such as mortgage, it is inevitable that the property market will enter the adjustment cycle in the second half of 20021.
However, this adjustment is not simultaneous or synchronous. When some cities "limit the decline", other cities with strong demand may still tighten regulation to cool the market. For example, Haikou and Sanya have recently upgraded the regulation of the property market, requiring that the registered commercial residential projects should not increase their prices in principle within one year. Zhang Dawei believes that this shows that there has been a two-way regulation in the real estate sector, and both the rise and fall are under control.
Why are there many "price limit orders"? Li, chief researcher of Guangdong Housing Policy Research Center, told China News Service that "three stabilities" is the goal of property market regulation, and ups and downs are not desirable for the central and local governments, which may lead to market expectations. After the expected decline in house prices is formed, it will lead to a further decline in prices, thus forming a cycle. Therefore, the government needs to intervene.
In recent years, when house prices fall, it is often the case that owners gather to "defend their rights" and protest against developers' price reduction. At this time, the "house trouble" against the price and quality of real estate will also be staged frequently. If house prices fall too fast, some property buyers may stop repaying their mortgages, and there may even be a "tide of supply interruption", which may lead to financial risks.
It is worth noting that the introduction of "price limit orders" is often dominated by weak second-tier or third-and fourth-tier cities. Li pointed out that compared with first-and second-tier key cities, third-and fourth-tier cities tend to have relatively simple and traditional industrial structures and slow upgrading. The prosperity of real estate and the strong industrial association of real estate drive the growth of upstream and downstream investment, consumption and employment, which is very important for these cities.
For example, in some places, household consumption is largely brought about by purchase and decoration. Therefore, these cities have low tolerance for falling house prices. In addition, the decline in house prices means the decline of "land finance", which has a greater impact on the financial resources of places with weak industrial support.