The sales office has become lively, and the first weekend after the introduction of the real estate policy combination punch

"Yesterday at 7:30 in the morning, I went out and ran with clients all day. At 9 pm in the evening, there were still many people at the sales office of the 'Starlight Village' property in Chaoyang District." On September 3rd, Lu Dongyang, a real estate agent in Beijing, told Chao News reporters.

This week, there have been frequent favorable policies in the real estate market. Following Beijing, Shanghai, Guangzhou, and Shenzhen, multiple cities have implemented the "house recognition but not loan recognition" policy and lowered the down payment ratio, injecting a "booster" into the market.

"Many sales offices are crowded with people."

Since Saturday, Beijing real estate agent Lv Dongyang has been busy.

"After the policy was introduced, the market has undergone significant changes. Yesterday, I took customers to see houses all day, and many sales offices were crowded with people, with many signing orders." Lv Dongyang said bluntly, feeling that it was more than twice as much as usual.

The reporter noticed that on the evening after the policy was introduced, many developers took advantage of the heat to shout the slogan "don't close", and some homebuyers chose to sign projects late at night.

On the morning of September 3rd at 9 o'clock, Guangzhou's real estate agent Shi Yangguang sent a video to reporters in Huadiwan, Liwan District. "Vanke Jinyu Xifu" was already bustling, with many buyers looking at and signing contracts.

"As far as I know, many new houses have been sold in Haizhu District and Liwan District in the past two days, with a significant increase in transaction volume and viewing volume compared to last month." Shi Yangguang told Chao News reporters that various real estate projects are now promoting policies such as "recognizing houses but not loans" and "minimum down payment ratio of 20% for first homes", which has attracted many customers from other regions who have loans to buy houses.

On September 3rd, Shi Yangguang told reporters that "Xinghui Jincheng" in Panyu District opened today, and customers were very enthusiastic. By 11:30 am, 122 groups of customers had already completed transactions. "Under favorable policies, there is currently a large influx of housing in the market, with supply exceeding demand. For consumers, it is a good time to buy," said Shi Yangguang.

Not only in first tier cities, many second tier cities are also beginning to usher in the peak sales season.

A real estate agent in Zhongshan, Guangdong told reporters, "Previously, Zhongshan's policy was to 'recognize a house and recognize a loan', but now it has changed to 'recognize a house and not recognize a loan'. After that, there have been housing loans in other places, and customers who are hesitant to make down payments have recently started to come and see a house, even without us notifying them. Many of them have voluntarily requested to see a house."

At the same time, the reporter noticed that many preferential policies for projects in first tier cities are gradually being cancelled. For example, in Beijing, Lv Dongyang told reporters, "I mainly took clients to see houses in Chaoyang District yesterday, and most of the discounts on projects have been recovered."

Shanghai real estate agent Zhu Jianlong told Chao News reporters that after the new policy was introduced, there were significantly more people looking at houses yesterday. Customers react faster, developers react faster, and some real estate discounts are indeed gradually being cancelled. U0026nbsp;

"For example, in Lingang, Shanghai, several real estate projects such as' China Construction Jiuhai Yuntian 'around us are no longer offering discounts. Projects under developers such as Zhongliang and Tongrun in the Xinchang area also have discounts due today," said Zhu Jianlong.

On September 2nd, Poly Union Luminescent Hezhen Garden, located in Minhang District, announced that it will fully recover its ultra long account period at 24:00 on September 3rd; Starting from September 4th, the down payment will be collected and signed within 3 days after subscription, and the parking space coupons will be fully collected. Jindi Xinlei of Jindi Group shouted out the new policy of "recognizing houses but not loans" and "not closing on weekends", with the slogan "discounts are about to be recovered, countdown".

The combination of real estate market punches heats up the "Golden Nine Silver Ten" trend

On the evening of September 1st, Beijing announced the implementation of "house recognition but not loan recognition", which will take effect from now on. At this point, the four major first tier cities of Beijing, Shanghai, Guangzhou, and Shenzhen have all announced the implementation of the policy of "recognizing houses but not loans".

Afterwards, many cities such as Zhongshan, Wuhan, Chengdu, Chongqing, Xiamen, and Suzhou followed suit and officially announced that they would recognize houses but not loans. Deng Haozhi, director of the National Association of Real Estate Managers, told Chao News reporters that although there is no mandatory requirement for nationwide implementation, after all four first tier cities have been implemented, other places should follow up one after another. U0026nbsp;

On August 31st, the People's Bank of China and the State Administration of Financial Supervision jointly issued the "Notice on Adjusting and Optimizing Differentiated Housing Credit Policies" and the "Notice on Reducing the Interest Rate of Existing First Home Loans", clarifying that the actual down payment ratio of personal housing loans has been lowered and the interest rate has been lowered.

On September 1st, in order to ensure the smooth implementation of the adjustment of interest rates for existing housing loans, various central bank branches in Beijing, Shanghai, Guangzhou, Shenzhen, and other provinces and cities successively announced the lower limit of interest rates for commercial personal housing loans on their official websites.

In a research report, CITIC Securities pointed out that the combination of real estate related policies has exceeded market expectations, reflecting the current determination to stabilize the real estate market and expand domestic demand through policies. The implementation of policies before the peak season of the Golden September and Silver October is expected to promote improvement in real estate sales and stabilizing price expectations.

In China's national economy, activities related to the real estate market not only include real estate development and investment, but also involve the service industry, consumption, and impact on upstream and downstream industries related to real estate. Therefore, the real estate economy includes three areas: real estate development and investment activities, real estate production activities, and real estate consumption activities.

The Institute of Finance and Information Technology has calculated the impact of real estate economic activities on economic growth in China. The results show that in 2022, the added value of real estate development investment activities, real estate production activities, and real estate consumption activities accounted for a total of about 25% of GDP. Although it has decreased compared to 2020, its contribution rate to a quarter of GDP is difficult to compare with other industries.

According to the Caixin Research Institute, based on the experience of the two rounds of real estate stimulus policies mentioned above, it is expected that this round of comprehensive real estate stimulus policies will also drive the growth rate of real estate sales area to bottom out and rebound. For the actual policy effect, due to significant changes in the supply and demand relationship of China's real estate market, it is expected that the rebound in real estate sales in this round will be weaker than in 2008; However, given that the policy intensity this time is greater than that of 2014-2015, it is expected that the rebound in real estate sales will be higher than the second round, and overall, it may drive the increase in real estate sales area by about 10 percentage points.

However, some experts also suggest that the real estate market should not be overly optimistic.

Pan Helin, Co Director of the Digital Economy and Financial Innovation Research Center at the International Business School of Zhejiang University, told Chao News reporters that overall, "recognizing a house but not a loan" is still a mild policy, mainly targeting the demand for rigid and improved housing, and there is still a basic logic of "housing for living, not for speculation" behind it.

"A more aggressive policy is to completely eliminate the 'four restrictions', namely purchase, sales, price, and loan restrictions. Pan and Lin believe that' recognizing a house but not a loan 'ultimately requires young people, especially college graduates, to buy a house. Therefore, creating employment and entrepreneurial opportunities, and increasing young people's income is the fundamental.". Various regions should prosper the job market, provide sufficient employment opportunities, and increase the income of young people, thereby enhancing their purchasing power level. "I personally believe that this is the fundamental reason why 'recognizing a house but not a loan' can take effect."