Central Plains: property prices fell 5% in the first quarter
The property market ushered in Xiaoyangchun ahead of schedule, and the new disk sales were ideal, which led to a rebound in trading. The Central Plains expects to reach 2,200 new deals this month. The first-quarter property price will fall by about 5% to support, and the adjustment will be narrow.
Chen Yongjie, vice chairman of the Asia-Pacific region and president of the residential sector, said yesterday that the PBOC’s RRR cuts, trade wars have eased, interest rate hikes have slowed down, and so on. Many new discs have opened up to attract market purchasing power and promote second-hand price reductions. Xiaoyangchun was ushered in before the Spring Festival. It is expected that the second-hand transaction volume will reach 2,200 and 3,500 respectively this month.
He expects that the property price will be rampant after a 5% reduction in property prices this season. CCL has the opportunity to stabilize at around 168 points before the Lunar New Year. Calculated at 170.19 points above, the property price fell by about 1.3% to find support. The adjustment was about 11% at the August high (188.64 points).
The fastest 2021 residential supply now fault
On the other hand, the long-term strategy to increase the proportion of public housing supply, the potential supply of private buildings in the next three to four years will remain 93,000, which will cushion the impact on private property supply in the short term and have limited impact on first-hand property prices. It is predicted that up to 32,000 private flats will be sold this year, many of which were awarded in 2015 to 16 years.
Zhang Jingda, executive director of Zhongyuan Surveyors, said that the residential floor space sold by the government in 2016 was about 11 million square feet, but it has been reduced to more than 4.3 million square feet in 2017 and 2018, with some land being “transferred to public”. The land is reduced, and the housing supply fault may occur as far as 2021 to 2022.
The provision of private property supply will drop at least 10,000 vacancies year-on-year to promote property prices. It is suggested that the land use in the New Territories can be appropriately relaxed with reference to the urban development density and support the future Dani plan.