More Stories of Beijing Housing Price Cuts, Change in Buyer Sentiment

A new article originally published in the Beijing Daily says price cuts are appearing all over the city as sellers find no takers. Buyers are in shock at the volatility, retreating to the sidelines to see how it shakes out.

iFeng: 北京楼市调查:房子挂牌两天 降了二十万
The first day of listing price of 4.2 million yuan, the next day to see the market wrong child immediately dropped to 4.0 million. Would like to take this hot property market to raise the house's worth, I did not expect to catch up with cool the property market, to buy new homes, existing homes to sell, so he resorted to only after the rapid drop rose tricks.

The past few days, this situation is appearing in multiple real estate agencies. However, even with the price decline, the prior price fluctuations have caused a psychological setback among buyers, sending them into the sidelines with a wait-and-see attitude.
Another example:
Xiao Li turned his computer screen, eager to show the hands of a good listing to reporters -. "Beiyuan homes embroidered Juyuan Southern, 94.42 square meters, 3.93 million." In order to attract attention, Xiao Li will let the buyers see the price trend that they normally aren't shown.

The chart shows, in half a month, this March 21 listing has changed in price twice, and each time fell: March 22, which is the second day of the listing, it fell from 4.2 million to 4 million yuan; It took another 10 days to April 3, this house has dropped to 393 million. Although in two weeks it has decreased by 270,000 yuan, the agent said: "The 3.93 million yuan is the basis, but can talk it down another 50,000 to 60,000 yuan."
Another case:
With the temperature drop along the property listing price down more than this place. In the North Fourth Ring of Century Village West, a price of 470 million two-bedroom is 89 square meters down from 5 million yuan last month. "Listed on the market last month, the owners want to take advantage of warming up money and more effort, on the price level, but half a month did not sell, but also to keep up, had to drop down." The agent listing broker Wang estimated that the total price of this house can go down by another 100,000 yuan.
Existing home prices have fallen in April:
38,646 yuan, 38,890 yuan, 39,684 yuan, 40,133 yuan, 40,356 yuan, these are the transacted Beijing existing home prices per square meter in the five weeks of March. Rising all the way to break above $ 40,000, it can also be seen two weeks after the March increase has narrowed. However, due to network lag signed about two weeks, the market will be reflected in the cool April net signed transaction data. From Homelink Real Estate Institute figures released yesterday, the first week of April, the capital of second-hand housing transaction price fell to 39,660 yuan / square meter, down 1.7%, fell back below 40,000 yuan.

More than one index fell. Reporters learned that last week the amount of existing housing for sale declined, while new housing listing price of 45,795 yuan / square meter, compared with the previous 1.5% decline in a week; home buyer traffic also continued to decline.

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