First Since 2008: Existing Home Prices and Rents Fall in First-Tier

For the first time in 10 years, existing home prices and rents are falling in the first-tier cities. Beijing and Shenzhen were covered earlier. This article repeats that news and adds:

iFeng: 北上广深二手房价和租金齐跌 为金融危机以来首次
According to the chain of home market research department, in April Shanghai second-hand residential turnover of 15,500 units, down 20.38% mtm; In addition, Albert I love my family data also show that Shanghai's existing home transaction price of 51,902 yuan / square meter, down 0.47% mtm. And 2017 the highest transaction price in February 53228 yuan / square meter, the unit price per square meter fell about 1,500 yuan.
On rents:
Reporters found that Beijing Fengtai Majiapao a 56 square meters of a bedroom house, the current listing price of 4900 yuan, and in April the same room with the 5400 yuan rented out. In addition, in the West three flags, Huilongguan and other rental housing-intensive areas, are similar to the phenomenon of price reduction, down more than 300 yuan to 1000 yuan.

...At present, Shanghai is the most obvious rent down the first-tier cities, Shanghai's existing home rent has declined three of five months in 2017.

Data show that the Shanghai housing rental index fell for the first time in December last year, it fell 0.13% mtm, the end 90 consecutive months of increases. Since January this year, Shanghai continued the downward trend.
Properties are also taking longer to rent:
Not only rents are falling. With the first-tier cities to increase the supply of rental housing, housing rental difficulty also increased.

According to the chain of home data show that in April Beijing-Shanghai Guangshen housing transaction cycle (listed to the contract) have appeared increases of 7 to 20 days ranging from significant growth. Even in Beijing, from January last year to April this year, the transaction cycle in 7 days of housing accounted for from 43% to 27%, turnover cycle in more than 15 days of housing accounted for from 11 % Rose to 28%.
Guangzhou is holding up better, but it also missed out on most of the run-up in recent years.

No comments:

Post a Comment