Chinese Homebuyers Wait and See During National Holiday

During Golden Week, some real estate agents went on vacation themselves given the calm in the normally roaring housing market. Anecdotal evidence from Sanya, Suzhou and other cities points to a swift cooldown as buyers wait for lower prices. Sentiment has shifted.

People's Daily: 观望多成交少 国庆长假楼市“哑火”
The "Golden September and Silver 10" National Day holiday is often a hot period of stepping on the plate and buying a house, but this year's Golden Week, the property market is a bit "dumb". Although the major real estate developers have thrown preferential olive branches, the sales office still feels "cool". According to industry insiders, the overall property market of the National Day holiday was stable, and the market gradually showed a high level of decline.

  Yan Yan is a salesman of a real estate in a second-tier city. This National Day is not busy. She took a group of customers to see the room and also took a break with her colleagues for two days. In the first few months, she will receive dozens of customers in one day.

  "In recent years, there have been few calm periods during holidays." Yan Yan said that this year's National Day, their company in some other cities and cities also appeared a bit deserted.

  Sanya, which has always been a popular city for real estate, is no exception. During the National Day, the real estate exhibition hall on the first floor of the Sanya Real Estate Service Center only had a brief introduction of real estate projects and some chairs, and chose a closed door.

  Not far from it, the “Wanke Lakeside Holiday Park” project recently launched the first shot of the price reduction of Sanya housing enterprises. "The filing price is about 29,000 yuan. After all kinds of discounts, the minimum price can reach 26,000 yuan." According to the salesperson, the current sales situation is definitely not comparable to the beginning of the year. "There are too few people who are eligible to buy a house. We have no choice but to cut prices."

  Zhang Dawei, chief analyst of Zhongyuan Real Estate, said that on the one hand, most of the hotspot cities have a comprehensive price limit, and the real estate market has no dim peak season; on the other hand, it is related to the current high housing prices and the strong wait-and-see attitude of buyers.

  Zhang Dawei said that although many developers have prepared ammunition during the National Day, from the point of view of transactions, the city's property market has gradually begun to appear to fall back, and house price adjustment has begun to appear from point to region. Hot cities began to decline gradually, and purchasing power is hard to support the market to continue to rise.

  Taking Suzhou as an example, although there were 7 new properties opened on September 30, and more than 10 properties were held in the Golden Week, there was no phenomenon that buyers used the holidays to watch large-scale houses. According to statistics, at present, there are 43,613 sets of new homes sold in Suzhou, and only 290 sets will be sold on October 1 and only 105 sets on October 2. The second-hand housing market seems to be more deserted. In the first two days of the Golden Week, the volume of existing housing in the city was zero.

  In Jiangmen, multi-projects launched “special room”. Among them, Midea · Agile Park Tianyi launched four sets of "special room", the average price of about 10,000 yuan / square meter; Swan Bay launched 10 sets of the lowest unit price of 9500 yuan / square meter "special room"; Country Garden · Zhonghai Yu Yuefu Launched 10 sets of "special room", the average price was 12,600 yuan / square meter; Country Garden Xijiang Huafu 147 square meters unit hit 5 percent discount.

  The Xiangjiang Emerald Oasis in the Guangzhou metropolitan area is playing an advertisement for “full-size single contract, as long as 10% down payment, and National Day limited time six major gift packs!”.

  Some insiders said that during the National Day holiday this year, the property market showed a large promotion, but wait and see more transactions. Even the actual price of the first product is significantly lower than the previous “blowing price”, but it is still affected by the consumption power of regional customers.

  Zhang Dawei said that the property market has been heavily regulated, commercial loans have continued to tighten, and the provident fund policy has begun to tighten in many cities across the country, making the market continue to wait and see.

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