Hangzhou Developers Cancelling Housing Lotteries for Lack of Interest

One of the bellwether markets for housing sentiment in recent years, Hangzhou is showing signs of rapid cooling. Developers have begun supplementing housing lotteries with direct sales and some have even cancelled their lotteries.

iFeng: 多地因楼盘降价引发纠纷 楼市几大信号不可不重视
Two major signals cannot be ignored

Zhang Dawei, chief analyst of Zhongyuan Real Estate, said that due to the increase in the supply of new homes, the inventory of typical cities including Beijing, Nanjing, Shenzhen, Ningbo and Fuzhou has increased to varying degrees. At the same time, hot cities are still under strict control, credit tightening, not only commercial loans continue to be high pressure, the provident fund policy has also begun to tighten in many cities across the country, making the market continue to wait and see. At this stage, the purchasing power of buyers is hard to support the market to continue to rise. Beijing, Shanghai, Shenzhen, Hangzhou, Nanjing, Hefei and other cities have seen signs of falling prices.

In addition, several major signals in the property market also convey important information -

1 sales department disputes are more and more

At present, the price reduction in the property market is not yet widespread, and it only appears in case projects in a small number of cities. Guo Yi, deputy general manager and chief analyst of Siyuan Real Estate Market Development Department, said that although “households are not speculative”, even if they are self-occupied buyers, they hope that the value of assets will continue to rise and they will be held in historical verification. Optimistic expectations, it is difficult to accept the price reduction behavior of housing companies, especially in a short period of time, the price of real estate has been lowered. The emergence of disputes is also one of the manifestations of the real price cuts of housing companies and the cold turnover of the property market.

2 lottery winning rate is getting higher and higher

The housing lottery is itself a response to a hot property market. It is an important signal when the lottery win rate is getting higher and higher, and even lotteries that don't sell out.

Taking Hangzhou as an example, the reporter learned that since September, there have been more and more limited-price real estate listings. Buyers tend to be rational, and the wait-and-see attitude is obvious. The lottery rate is getting higher and higher, and many real estates have supplemented the lottery and opened for sale. There are even some phenomena in some properties, such as the phenomenon of canceling the lottery. Some insiders pointed out that perhaps the future non-popular real estate will not need the housing lottery.

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