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    Home > Coatings News > Paints and Coatings Market > Inventory pressure is rising The cooling trend of the property market in third- and fourth-tier cities is difficult to change

    Inventory pressure is rising The cooling trend of the property market in third- and fourth-tier cities is difficult to change

    • Last Update: 2021-01-25
    • Source: Internet
    • Author: User
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    China Paint Network
    :
    recently, Shenzhen and other first-tier cities and some hot cities "day CD" news is frequently reported. In contrast, some housing enterprises are accelerating the withdrawal of third- and fourth-tier cities. Under the influence of mortgage and provident fund policy loosened, confidence in the property market has been boosted. Overall, the transaction between the first- and second-tier hot cities and the third- and fourth-tier cities is further differentiated, especially the transactions in the first-tier cities are clearly rebounding, and the trend of differential interest rates on personal housing loans will become more and more obvious. For real estate development enterprises, continue to speed up sales to inventory, adjust the layout of the city, reduce the operational risk of enterprises is the "king road." In fact, the more depressed the property market, the more frequent the rescue policy will be introduced. From the "330" New Deal to the local provident fund New Deal, the local government intensive adjustment policy is undoubtedly to "rescue the market", but from inventory, population inflows and other factors, the overall cooling trend of the third- and fourth-tier urban property market is difficult to change. Data show that in the first five months of 2015, among the 54 cities in the country it monitored, the first-tier cities signed a total of 171,100 units, a 41% year-on-year increase; Xinhua News Agency real estate price monitoring system data also show that Guiyang, Kunming, Chengdu and other cities in May, the number of new housing transactions is still declining year-on-year. According to relevant statistics, after ushering in the "Red May" hot deal, Nanchang market in the first week of June (June 1-7) was into the "abyss", the volume of new commercial housing transactions fell back to 879 units, down 50% month-on-month; Overall, in addition to Shenzhen, most of the country's urban housing prices did not rise significantly, many in a year-on-year or slightly lower state, indicating that most cities, especially third- and fourth-tier cities are still in the inventory phase. With the local property market transactions more and more differentiated, personal mortgage preferential policies also began to appear differentiated. Take Beijing, Tianjin and other places of banking outlets, for example, the current first home loan to get 8.5 percent discount on the loan interest rate is not uncommon, and the threshold to obtain preferential treatment is much lower than last year. A state-owned large bank in Beijing, a network account manager said: "At present, our bank for personal first home loans can provide a minimum interest rate of 8.5 percent discount, as long as the qualifications meet the requirements can be applied for, will not force the purchase of products." "And a number of real estate agents in Beijing staff said that the recent banks for second-hand housing in Beijing second-home loan interest rate concessions have been constantly adjusted, the current 8.8 percent discount mainly, some banks can provide 8.6 percent discount or even 8.5 percent discount on loan rates. In this way, taking the loan of 1 million yuan, 20 years term (equivalent principal and interest repayment) as an example, compared with the interest rate after the interest rate cut benchmark rate (5.65%) and 8.5 percent discount rate (4.80%) found that after enjoying the 8.5 percent discount rate, the monthly payment is less than 472.65 yuan, the total interest expense is reduced by 113436.17 yuan. This is undoubtedly a relief for home buyers. In contrast, many third- and fourth-tier cities and even second-tier cities in the Midwest, personal mortgage is a "iron plate", loan interest rates have little concessions. "At present, I have not heard that the first home loan rate can be discounted, basically the benchmark interest rate, we can only give you to try to lend a little faster, " said the loan account manager of a branch of China Construction Bank in Nanchang. "Although in the "330" New Deal, the interest rate on second-home loans has been "untied" and can be determined by banks on their own, depending on the borrower's credit status and repayment capacity, the interest rate has remained basically 1.1 times or higher at the original benchmark rate. It is worth noting that since this year, 32 provinces and municipalities have made adjustments to the housing provident fund policy. This round of local policy adjustment, mainly to improve the amount of loans, relax the housing unit identification criteria, reduce the down payment ratio as the main content. For example, beijing, Zhejiang, Fujian and other places of the first home provident fund loan down payment can be as low as 20%. Jiangsu's minimum down payment ratio was lowered to 40%-45%. In the past few years, some third- and fourth-tier cities blindly supply land development, some housing products have low quality and homogenization serious problems, housing consumption returned to rationality, this part of the house is naturally less popular. Some cities are still under construction on a large scale, sales speed can not keep up with the increase in inventory speed, inventory pressure does not fall back up. From the overall situation, the current domestic real estate market is still the adjustment period, the market fundamentals have not changed significantly, "inventory" is still more than half of the second-tier cities, most of the third- and fourth-tier cities the main theme of the property market. In fact, this can also be seen from the differences in mortgage interest rates, different regions, banks on the mortgage risk understanding is also different. First-tier cities are loose, 234 are tight, at a glance.
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