Beijing Home Price Sinks Below 10,000 Yuan Per Square Meter

Beijing has a new development selling homes for less than 10,000 yuan per sqm in Yizhuang, located in the southeastern Daxing district. Just the other day, I posted on how Chinese Homebuyers Are Returning Their Homes and that in Beijing, some buyers are even giving up their right to buy affordable housing, a right that was won in a lottery with 4000:1 odds. This case of sub-10,000 yuan housing is an example.

On July 23, reporters went to Yizhuang to Hopson's (0754.HK) World Village Apartments new project site. Reporters found a large number of buyers came to view the site and many customers even gave up their affordable housing rights to buy housing directly from the Hopson Global Village Project. A Ms. Yang told reporters, the 13,000 yuan / square meter affordable housing has common property rights (owners must sell back to the government), and the 9800 yuan / square meter property has personal property rights, so she chose to give up her affordable housing eligibility and purchased this property.

One analyst said Hopson's move is of important significance because with many cities cancelling buying restrictions, non-resident Beijingers are buying homes in their hometowns instead of in Beijing, sapping demand in the city.

Between the rising supply and weak demand, prices will likely come down in the second half.

9800元破空出世 北京主城区房价击穿万元
July 24, price 9800 yuan / square meters of commercial housing will officially enter the market started the Beijing property market price just to be "shot." Serious and regions of the world is located in the village apartment Hopson new push product, price 9800 yuan / square meter market, the main city of Beijing to become the first prices "broken million" project.

The project is located Serious majuqiao core plate that covers the community of international life business center, clubhouse Dragon Court, Technology Park and other facilities, new push for the 70 existing homes with two bedrooms flat products, the apartment is not marketing the loft apartments, and is a regular flat layer structure, is the real deal of 9800 yuan / square meter.

Executive director of the World Union Properties Beijing company Liu Yan in an interview with reporters, when, said: "This is a qualitative breakthrough into since July, Nanjing, Guangzhou, Beijing and other cities affected by tight credit, since housing continue to enter the market and other factors, the property market! downturn continued to spread, most developers will choose to price change. "

Flat floor apartment , breakdown ten thousand yuan market

July 23, reporters came Hopson Serious and regions of the world village apartment new products to push the project site. Reporters found that in the global village Hopson large number of buyers to the site showings, many customers even gave qualified buyers from the housing directly select Hopson Global Village Project, a Ms. Yang told reporters, 13,000 yuan / square meter house is the common property nature property rights, and 9800 yuan / square meter of housing is holding its own property, so I chose to abstain from the purchase of housing eligibility, select real estate.

Hopson Development General Manager North China 朱思昊 time in an interview with reporters, said: "Hopson price of less than one million global village, since housing prices have been far below the recent wave number from cost-effective, it has been a very cost-effective. "

A developer to give reporters calculations, "Hopson World Village throws 9,800 yuan / square meter price launch new products, to become the first in the main city rates broken million project. Hopson global village located on the Serious and regional perspective implementation of Beijing city plans and regional value rising, prices of less than 1 million project as early as five years ago, have been rare; same within six rings also FRANSHION nearly 4 million project price / square meter, and this year April, CAC Group plots in huangcun get too close to the floor price of 20,000 yuan / square meter, and even less than half of its land in the village of New push Hopson world's elite venture partner in apartment prices. "

With the implementation of the "south of the plan", the land south of Beijing transaction prices continue to rise, the reporter access to Beijing land reserve center Web site noted: 2012 Serious land transaction price floor price for 11,000 yuan / square meter -1.5 million / m, 2013 floor price of about 23,000 land / m, 2013 hot market has been steadily rising. Daxing District, prices from 15,000 yuan / square meter in mid-December last year rose to 40,000 yuan / square meter. However, after this, the property market turned down, in March of this year, Vanke orange lead the first drop, live in South Central is located in Daxing District Tiangongyuan total area opened Vanke orange, rough house price 21,000 yuan / square meter, planing to go decoration prices, lower than the expected price Vanke about 3000 yuan / square meter, the opening day almost "Daylight." Vanke down from orange collar, promotional efforts fierce day Daxing area a day.

Frozen in time to usher in the price of the property market

The market price of such stories, not just occur in Hopson global village, in a large number of such stories staged.

July 22, reporters access to Beijing Municipal Construction Committee net signed data: the first half of 2014 the total turnover of 4466 Beijing commercial housing units, new commercial housing to the first half was 27.4% of the overall market project contract rate of only 6.2% , its lowest value since 2006 Beijing has recorded net signed since the same period, while investment in real estate development, housing construction area, business area of ​​land acquisition and multiple property market indicators, such as real estate sales area, there were growth fell phenomenon.

While stocks continue to rise, but a large amount of real estate they rushed into the market after June 33 projects focus on the market, in July Beijing commercial housing supply continues unabated. July Beijing opened a total of 36 project, which includes Hung Kun Nishiyama Evelyn, Suning · statue Wyatt Building, China Railway Construction Green show Uptown and other 12 pure new disc, as well as Chinese industry Oriental Rose, Run maple neck still, Road King post-World City, CITIC House and other 24 old projects, 17 projects have been given pricing, nine projects to parity or below market price is expected to enter the market, the price ratio of 52%, while housing prices have taken "cheap running volume "sales strategy. Among them, China Vanke happy sinks, the first city Driveway Bay respectively 14,000 yuan / square meter, 13,100 yuan / square meter price of the market, while the first of Xi Yue Poly spring 22,500 yuan / square meter of sales price, real estate prices did not appear .

Vice president of China Real Estate Research Hu Zhigang, when in an interview with reporters, said: "With the local government to cancel the purchase, many foreigners choose home buyers, weakened the purchasing power of Beijing, Beijing real estate will usher in a correction, the second half of the year as a whole Residential real estate market prices may not have to pick up a substantial sacrifice part of the project's sales profits in exchange for money hunters take to prepare, or worthwhile, Hopson World Village apartment new push products on the Beijing property market is of great significance. "

Keung, vice president of China Real Estate Association also told reporters analysis: "Beijing property market will make the second half of the frozen state of the property market prices to appear loose, there will be an increasing number of housing prices to select the appropriate price." But two experts believe that Beijing not yet reached the crash situation, but for Beijing buyers, is a good time to purchase.

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