2020-01-28

Updated: China Adds Stock Market and Lottery Sales to Shutdown List, Real Estate Closures Widen

I expect many of these local policies will spread quickly.

Update: Shanghai is closed until February 9. Reuters: Companies in Shanghai cannot resume work before February 9 due to virus fight: government

Sohu: 财政部:彩票市场春节休市时间延长至2月9日24时

China Market Opening Delayed Until Feb. 3 on Virus Upheaval
China’s financial markets will remain closed until next Monday after authorities extended the Lunar New Year break by three days as they grapple with the worsening virus crisis.

Trading will resume Feb. 3, the Shanghai and Shenzhen stock exchanges said. Shanghai authorities separately advised that companies shouldn’t start work until at least Feb. 9.

Some cities started closing real estate offices, Nanchang was the first I noticed: Chinese Realtors Shuttering for Coronavirus During Peak Sales Season

Other reports have since come out.

Jiangxi asked all real estate sales to cease, both direct sales and realtors.

Beijing News: 抗击疫情 江西省房协倡议房企售楼部和中介门店暂停营业
​​In order to do a good job in the prevention and control of the new pneumonia epidemic situation in Jiangxi Province, on January 27, the Jiangxi Real Estate Industry Association proposed that all real estate development enterprises should suspend the sales department of commercial housing (the case) Sales Activity.
East Money: 多地关闭售楼处 返乡置业停摆影响一季度楼市
January 26, Guangxi Real Estate Association of Industry released the "guide my area real estate emergency notification industry and resolutely implement cooperate with the novel coronavirus epidemic prevention and control work," which requires each real estate development company temporarily closed the sales department, do on-site disinfection and Health and epidemic prevention. For commercial and office properties and buildings that are held, operated or used by the company, they shall promptly work with property companies and other related cooperation agencies to strengthen on-site disinfection and epidemic prevention measures.

On the 26th, Sichuan Mianyang City Housing and Urban-Rural Development Committee issued a document stating that from now on, all development enterprises will not be allowed to open the sales office (case) of commercial housing, and do a good job of on-site disinfection and sanitation and epidemic prevention. Equipped in place to strengthen security awareness and guidance for epidemic prevention and control of the staff on duty.

On the 25th, the Housing and Urban Construction Bureau of Ganzhou City, Jiangxi issued a notice to fully prevent and control the new type of coronavirus pneumonia, effectively cut off the transmission of the virus, and protect the health and life of the general public. From now on, all commercial real estate sales offices in the city will suspend business and all real estate agencies in the city ​​will suspend business. Business hours will be announced separately.

The Housing Security and Real Estate Management Bureau of Fuzhou City, Fujian Province also issued a notice on the 25th. From now on, all real estate development enterprises in the city will not be allowed to open the commercial housing sales department (case), and real estate agencies will not be allowed to open real estate intermediary stores. Do a good job of on-site disinfection, sanitation and epidemic prevention, equip epidemic prevention equipment and equipment in place, and strengthen security awareness and guidance for epidemic prevention and control of the staff on duty.

According to incomplete statistics from China Business News, as of January 26, at least more than 17 cities and regions across the country issued notices and closed the sales department.

Yan Yuejin, research director of the Think Tank Center at E-House Research Institute, analyzed First Financial, and more sales offices are expected to be closed in the future. From the practice of closing sales offices in various places, it can be seen that the real estate sector is also actively cooperating with epidemic prevention work and has adopted relatively clear and strict controls. Affected by this, it is expected that real estate transactions in many cities across the country will decline significantly from January to February this year.

Zhang Dawei, the chief market analyst of Zhongyuan Real Estate, said that even if the relevant management department will not close the sales office, major developers will close the sales office themselves, because few people come. In the past years, around the 15th of the first month, there were peak periods for homeowners in the three, four, and five tier cities to return home. However, many small and medium cities now implement strict controls. This year, home ownership has almost disappeared. The market impact is huge.
EO: 多城售楼处暂停开放、中介门店暂停营业
According to incomplete statistics from the Economic Observation Network, as of press time, more than 25 cities across the country, including 14 prefecture-level cities in Guangxi Province, have announced the suspension of mass gathering activities such as new openings or large-scale sales of real estate for sale.

Among them, more than 90% of the city's commercial housing sales department is temporarily closed to the outside world, and real estate agencies' stores are temporarily closed; some cities have even closed the online signing system and suspended housing transactions. Cities such as Leshan require construction sites to stop construction.

Under the influence of the epidemic, a series of "pauses" have taken place, and the real estate market is undergoing subtle changes. "Our real estate is an industrial investment project. During the Spring Festival, there were not many people. During the four or five days of the New Year, the number of daily house visits was 0." Yu Li told Economic Observation Network.

No comments:

Post a Comment