Chinese Housing Markets Upside Down: Existing Home Prices Exceed New Home Prices
China’s crackdown on housing hits developers as well as buyers, with some cities starting to see existing home prices climb past new home prices. Given tight restrictions on pricing and sales, developers are deciding not to sell their property when it is priced below market:
In Shanghai, a real estate, an average price of 85,000 yuan / square meter, while the surrounding second – hand housing average price has reached 90,000 yuan / square meter. Similarly, in the southwest of Nanjing River area, the average price of primary housing 35,000 yuan / square meter, the surrounding second – hand housing average price reached 40,000 yuan / square meter. A second – hand housing prices upside down serious, leading to a new real estate hard to find a room.
Some people may ask, new home prices can not rise? The answer is “NO!” On the pricing of first-hand housing, the government has strict rules and restrictions, and according to different plates and real estate, set the property market price red line. For example, Nanjing to the south of the river, Hexi central, Xianlin, Jiangbei, Jiangning five plates of new commercial housing to declare the implementation of the price ceiling price.
The price is not high, will be low and feel a disadvantage, and desperate, some not bad money developers simply do not sell a license, direct cover plate does not sell.
…Yiyou Research Institute think tank center research director Yan Yuejin said that the current round of the property market regulation is very severe, fully illustrates the real estate market control urgency, reflects the current tight control of the guidance, but also means afterwards the real estate market industry discipline can be better established.
iFeng: 楼市调控城市扩容 一二手房“价格倒挂”频现