2014-07-06

Months of Inventory Spikes as Sales Drop; Inventory Near 40 Months in Nanjing


Beijing is far down the list, but it's not stopping some new building from cutting prices by 20%. The new threat to home prices in Beijing is the government housing that sold for about one-third less than the surrounding real estate.

This highlights the wonders of central planning and government's uncanny knack of closing the barn door well after the horses have run off. Beijing's affordable housing, which was seen as a way to hold down real estate prices, is hitting the market just as the housing market has peaked. The extra supply selling at one-third off is going to act as an accelerant on the way down.

"Now our goal is quick turnover, do our best to grab as much demand as possible, because in the future there will be more affordable housing in the market, and by then it might be too late to cut prices again," an executive from a mid-sized developer told reporters.

京部分新楼盘降价超两成 成交萎靡和自住房夹击
Market turnover in succession from the housing market slump and the double "attack", the Beijing part of the new disk into the market price higher than the previous price down by more than twenty percent.

Not long ago, is located between the East and the East Fourth Ring rings Jinyu · Meeting XingYuan to 220 million / square meter price Yaohao market, supply of housing 1882 sets. In addition, the nearby Hengda Bayview [ News Price apartment review ], Hengda [ Introduction News ] Jin Bidong dam Southern District Land and Poly [ Introduction News ] first opened [ Introduction News ] Dongba the three plots Since the housing project is expected to enter the market price at around 22,000 yuan / square meter.

Self-containment in several housing projects under the same area in Chaoyang Dongba first open Ivy [ News Price apartment review ] project, launched on June 28 by 90 sets of 88 square meters 3 ranking special room, price only 32,000 yuan / square meter. While in April the project opening price 40500 yuan / square meter, the price cut special listing more than 20%.

"Now 32,000 yuan / square meters of housing remaining a set, the price is very appropriate." Ivy first open a sales staff told the "China Times" reporter, more than 150 square meters of the project is also a special room set remaining fifty-six , the price is also 32,000 yuan / square meter.

In addition, Evergrande Royal Scenic Bay commercial and residential projects around the CBD East Scotia also launched promotional activities. According to project sales personnel, the estate will be opened by the end of July, launched a total of 286 sets of the hardcover existing homes, LOFT product price of 48,000 yuan / square meter. According live off data, CBD East homes around the small commercial and residential projects Joy, currently LOFT price has reached 62,000 yuan / square meter.

Data show that there are currently in the Chaoyang District of goods sold 11 residential projects. Within the past month, these 11 projects, 9 projects sales prices were flat or down as before, only two projects sales price rose.

"Now do ordinary commercial housing projects, profit margins have been compressed very low, not only from a pure housing plots, but also adding our own self-built housing, so we are considering the adjustment of product structure. "Beijing a major real estate developer , told reporters.

In fact, not only Chaoyang District dropped significantly since the housing surrounding housing prices, housing supply from Beijing currently has an area surrounding a lot of real estate prices have experienced a decline of more than two percent.

Metro is located in Shunyi overall positive华新国live show Mantingfang housing projects since the end of 2014 will be opened, limit of 19,000 yuan / square meter. This project is only the distance is less than 900 meters COFCO king Project clouds international living area, three opening only 21,000 yuan / square meter. Compared with October last year the project opening price 28,000 yuan / square meter, the opening price listings down 7,000 yuan / square meter, a drop of 25%.

"Since this was near the housing plots out of time, we feel a little embarrassed, after all, from our project too, although the development of different products, our main apartment of 300 square meters large apartment, but the price is still have little impact. "Shunyi New housing plots sold since, COFCO Property, an insider has said publicly.

In addition, six ring located south from the housing project will be the first Hyatt average selling price of 13,000 yuan / square meters, 900 meters away from the Street with its golden diffuse Boomtown [ News Price apartment review ] is currently the lowest priced at 19,700 yuan / square meters, while the average price of the real estate in November 2013 when the opening was 23,000 yuan / square meter.

"Under the overall slowdown in the property market, but also to seize the high demand from the housing situation, developers have put a cautious approach, taking cash is king of the high turnover strategy, none achieved sales initiative, which has become an effective return of funds many developers way. "Asian high Guo Yi, director of marketing, said in July is expected to open in the 36 projects, 17 have been given just need to project pricing, in which nine projects are expected to parity or below market prices in the market.

It is worth noting that, recently, Beijing Land Bureau said publicly that 714 hectares of residential land supply in the first half of Beijing, since the proportion of housing for more than two percent. Filled plots with houses built since the housing average sales limit of 18,800 yuan / square meter, a single set of average house area of ​​94 square meters.

"Now from the bureau of housing land supply position is much better than in the past, even though it looked limit sales to be higher than in the past, but in fact, since the housing price is still high-quality land on the periphery of commercial housing prices 30% off. "Central Plains real estate chief analyst Zhang Dawei analysis, which also allow the thought that with his location, quality advantage "overcome" from ordinary commercial housing developers hit again.

"Now our goal is quick turnaround, rush in demand as much as possible, because in the future there will be more from the housing market, and by then the price might be too late." Beijing a medium-sized developers executives told reporters.

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