Or lead to a slight reduction in the price of second-hand houses, with thousands of housing units in Jinan's "civil servant community" open for sale. Jinan | Housing | Community
Recently, a heavyweight news has attracted the attention of home buyers in Jinan - the Dongcheng Yijia and Xijiang Huafu communities in Jinan will sell thousands of properties to the public. Among them, more than 300 properties from Dongcheng Yijia Yiya Garden and Yijun Garden will be sold as the first batch of properties.
On July 15th, the first day of the opening of the Dongcheng Yijia model room, whether in the sales office or in the model room, was a bustling scene with a queue of four to five to ten meters in front of the door, hundreds of people squeezing oil in the lobby, elevators waiting for half an hour, and questions and answers relying solely on shouting.
Why does this batch of properties attract such high popularity? How do homebuyers perceive this batch of properties? What impact will this opening have on the real estate market in Jinan in the second half of the year? Qilu Evening News · Qilu Yidian reporter will learn about it with you.
The "Civil Servant Community" is open for sale
The hottest real estate in Jinan this summer
"On July 15, it's for sale!" On July 14, the official WeChat official account of Jinan Urban Investment Group Co., Ltd., "Jinan Urban Investment", released the news that the East City Yijia Marketing Center was about to open grandly. According to the news, the two major residential areas of Dongcheng Yijia and Xijiang Huafu in Jinan Olympic Sports Area will sell thousands of housing units to the public.
As soon as the news was announced, it attracted widespread attention. In Jinan, the two residential areas of Dongcheng Yijia and Xijiang Huafu have attracted much attention from the real estate market due to their concentration as government workers.
It is worth pointing out that although the above two communities have been built for nearly a decade, there are still some unoccupied housing units in the communities. However, before the announcement of this news by Jinan Urban Investment, the housing transactions in both communities were second-hand housing transactions and related housing units were never publicly developed to the society.
On the morning of July 15th, the Dongcheng Yijia Marketing Center at the intersection of Shunxian Road and Chenxiang Road was very popular. Although the sales office did not open, there was already a queue of nearly a hundred people in front of the door, which was thirty to forty meters long.
"The government civil servant community has a good location and a good school district." "The housing prices are said to be cheaper than the second-hand housing prices in the surrounding area." "If the layout is good, you can consider buying a house."... At the queue, the onlookers were discussing with each other, although each had their own considerations for buying a house, they all showed a strong interest in this housing listing.
At 8 o'clock, as soon as the sales office opened, the already uncontrollable viewing team kept pushing forward. A group of ten people, in order of queue, the salesperson led the visitors into the sales office in batches. Twenty minutes later, although five or six groups of visitors had entered, the length of the viewing queue in front of the sales office had not decreased.
After an hour of queuing, at 9:10 am, a reporter from Qilu Evening News and Qilu One Point walked into the sales hall. "Is there anyone who hasn't added me on WeChat?" "The property has not officially opened yet. As soon as the opening time is confirmed, we will notify you immediately." "The selling price has not been determined yet." In the lobby, facing numerous inquiries from property buyers, property consultants are busy.
"Now this is the hottest real estate development in Jinan! Today we are all out, and just sales have brought in more than 10," said a staff member at the sales office.
The unit price and starting time for sale have not been announced yet
First launch of over 300 suites to explore the market
"I won't pay the subscription fee today, mainly for the model room." At 9:10, real estate consultant Li Zhuang presented a layout plan to more than 10 property buyers, including reporters, and said that Dongcheng Yijia will soon sell more than 300 existing houses to the public, including Building 4, Building 5, and Building 12 in Yiyayuan District 1.
Among them, the Yiya Garden has a building area of about 135 square meters and is a product of three bedrooms, two living rooms, and two bathrooms; Yijun Garden has a building area of approximately 95 square meters and is a two bedroom, one living room, and one bathroom product.
"The price may be 2671 square meters, but the final pricing and opening time have not been determined yet." Along the way, Li Zhuang roughly introduced the purchasing process of Dongcheng Yijia's open housing. "After the price is determined, we will notify the intended customers as soon as possible, and the customers will pay the subscription fee, then determine the eligibility for housing selection, and then draw the lottery and pay the housing price.".
Under the leadership of Li Zhuang, the "viewing group" came to the first district of Yijia Yiya Garden in Dongcheng. The property is located 500 meters east of the sales office. Line up at the sales office to see the model room, and the same goes for it. Just as I entered the entrance of the community, within a few steps, there was a two to three hundred meter long viewing line.
"There are too many people coming to see the house today! The model room is on the 7th floor, and just waiting for the elevator has taken more than 20 minutes." Mr. Zhang, a citizen, said, "queuing up to see the model room has not been such a popular scene in many years!"
"If it's really 25000 to 261 square meters, that would be a great deal," Mr. Zhang said. Currently, the unit price of second-hand houses around Dongcheng Yijia is about 28000-30000 yuan per square meter. "Even if you sell 28000 to 281 square meters, without the intermediary fees, transaction fees, and other fees for second-hand houses, this price is still reasonable.".
"Objectively speaking, the product design of Dongcheng Yijia was about 10 years ago, and overall it belongs to the previous generation of products, with a relatively average layout." Unlike Mr. Zhang's "feeling quite cost-effective" view, after seeing the model room, Mr. Li, a citizen, said that although the price of this batch of housing is advantageous, the layout is not satisfactory.
Based on his own viewing experience, Mr. Li said that the products launched this time are all two elevators and four households, and two elevators and three households. It is common for the middle households to have north-south opacity and the bathroom to have no windows. The 135 square meter layout of Yiya Garden is better, especially for the side households, which have basically achieved full visibility design and good transparency.
During the viewing process, the sales office of Dongcheng Yijia also answered the question of "how to compensate for the quality of the expired properties". "Due to the relatively long construction time of the house, there may be hollowing of tiles, cracks on the ground or walls, and the installation of solar water heaters requiring maintenance, a maintenance subsidy of 20000 yuan per set will be given uniformly." A salesperson said.
Is it really as cheap as the outside world claims?
Or it may lead to a slight reduction in the price of second-hand houses in the surrounding area
In fact, there are not only buyers, but also many sellers who are interested in Dongcheng Yijia's listings for sale.
On the morning of the 15th, as soon as the sales office of Dongcheng Yijia opened, Zhang Hua disregarded the business of his second-hand housing agency and rushed to inquire about the news. Having opened a store on Shunyi Road for seven or eight years, Zhang Hua was familiar with the information of the housing layout and the number of second-hand houses listed in the area.
"I heard that thousands of properties have been put on the market, which has a significant impact on the market prices in the area." The opening of some properties in Dongcheng Yijia and Xijiang Huafu to the public this time has made Zhang Hua quite melancholy. "The extent of the impact is still uncertain, but the only thing that can be confirmed is that second-hand houses in the surrounding areas are not selling well!"
"These days, many homeowners who are planning to buy a house have called me and asked me what to do. I can only reply that if they are in a hurry to sell the house, they can only sell it at a lower price. When queuing up on site, I also met several customers." Zhang Hua said that the second-hand houses listed by these customers in Dongcheng Yijia were previously priced at around 30000 yuan per square meter. "They also want to compare and understand the advantages and disadvantages of their own houses through viewing, so that their prices can be more reasonable and selling."
"The current price of 245000 yuan is uncertain, this is just the price released. Next, it depends on the enthusiasm of the homebuyers. If everyone is very enthusiastic and there are many people who want to buy, the price may exceed 2561 yuan or even higher. If everyone's interest is not so high, it may decrease." Although there is some melancholy, Zhang Hua still maintains a "calm" attitude. "From the perspective of the popularity of queuing to see a house, it is expected that the price will not be much lower than the surrounding second house prices, and may even remain unchanged.".
"Hold a wait-and-see attitude first, don't make a hasty decision." Compared to the enthusiasm of citizens queuing up to see houses, many real estate industry insiders in Jinan are quite calm.
"First, you need to define your own needs. If you want a school district, I personally think it's a good choice." Mr. Li, the sales manager of a real estate project in the eastern part of Jinan, believes that for some major improvement customers, Dongcheng Yijia may not be very suitable due to its early product design; But for some mid to high end improvement customers, especially families with educational needs, Dongcheng Yijia is relatively suitable. "Although there are many problems with the layout, high-quality school districts and the core area of the new city are the biggest selling points of the product.".
Expected to improve the mismatch between supply and demand in the real estate market
More profound meaning of "stabilizing housing prices and expectations"
"The listing of this batch of properties not only provides homebuyers with more choices, but also helps to improve the current situation of supply and demand mismatch in the Jinan real estate market." Xu Chuanming, Deputy General Manager of Shandong Hefu, analyzed that the "hot" viewing popularity of Dongcheng Yijia Yijun Garden and Yiya Garden is not only related to the price, transportation, school district and other advantages of this batch of properties, but also closely related to the current situation of insufficient supply on the supply side of the Jinan real estate market.
What is insufficient supply on the supply side of the real estate market? In layman's terms, there are more houses sold in the real estate market than those supplied. Since the first half of 2023, with the normalization of economic operation, as well as a series of favorable policies such as bank interest rates and real estate enterprises, the previously suppressed housing demand has been released quickly, and the real estate market in Jinan and many other cities across the country has rebounded to some extent.
The real estate related data of Jinan City in the first half of 2023 also reflects this situation - as of June 2023, the online signing area of newly built commercial housing in Jinan City is 1.44 million square meters more than the approved pre-sale area of newly built commercial housing.
"Not only Jinan City, but many cities across the country are in a period of low supply in the real estate supply side." Xu Chuanming said, "Taking into account the land auction situation in the first half of the year, major real estate development enterprises have weak willingness to develop new projects, and the real estate market is still slowly recovering.".
This situation has led to an increase in housing prices in some areas of the Jinan real estate market, especially in improved housing products. "The quotation for the same improved housing product in June is 500000 yuan higher than the quotation in February and March," said Xu Chuanming.
How to ensure the stable and healthy operation of the real estate market in the city during the low supply period? The batch of housing listings launched by Jinan Urban Investment Group can be said to be timely.
It can be seen as Jinan's efforts to improve the current situation of insufficient supply in the real estate market. Compared to the surrounding housing prices, the prices of Dongcheng Yijia Yijun Garden and Yiya Garden properties are not high. Xu Chuanming stated that the developer Jinan Urban Investment Group is one of the important investment platforms of the Jinan Municipal Government. The series of properties launched during the market downturn are not purely expected to be based on market profits, but also have a deep meaning of "stabilizing housing prices and expectations".
"Selling at a relatively low price will have a positive effect on stabilizing the housing prices in Jinan's real estate market in the second half of 2023," said Xu Chuanming.
