Existing Home Prices Slowing in Beijing, Shenzhen Stronger

21st Century: 北京二手房降价调查:量价齐跌最长下滑周期来袭,限竞房“价格战”施压
"(Second-hand housing) prices are indeed declining. In the past few months, the price of the offer has been raised more than that. But even then, the transaction volume is not large." On November 19th, the business of Chain Home Real Estate Beijing Zhujiang Oasis Store Xiao Liu told the 21st Century Business Herald.

This store is located outside the East Fifth Ring Road in Beijing and belongs to the Shuangqiao area of ​​Chaoyang District. According to the data of the chain home app, at this stage, the average transaction price of second-hand houses in the region is about 45,000 yuan / square meter, which is slightly lower than the price level in the first half of the year. Since the second half of the year, the volume of transactions in the region has been at a low level.

In this round of real estate market adjustment, Beijing is one of the earliest regional markets that have introduced policies and are the first to be effective. At present, the volume of second-hand housing transactions in Beijing accounts for more than 80% of the overall market. The change in the second-hand housing market is almost a portrayal of the Beijing property market.

According to the National Bureau of Statistics, from July to October this year, the average transaction price of second-hand residential properties in Beijing fell for four consecutive months. This is the longest downturn in Beijing's second-hand housing prices since 2018. The information reported by the frontline brokers is that the owners continue to cut the offer, but the wait-and-see attitude of the buyers is still serious.

Since the "317 New Deal" in March 2017, Beijing has not introduced new heavyweight control measures for more than two years. So, what are the factors that "disturbed" the price of second-hand housing in Beijing?

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