2014-07-10

Real Estate Market Psychology Test Case: Xiamen

Like politics, all real estate is local. Xiamen is a popular tourist area and attracts a lot of out-of-town home buyers. That should keep Xiamen's real estate market relatively elevated whether the national market moves up or down. However, developers and city officials expect prices are going to rise because buying restrictions now exist in name only. They expect psychology will change and that non-resident buyers will change their price expectations. If psychology can turn back to positive in any city, it would be in a city such as Xiamen. I suspect the developers and city officials will be disappointed, but we'll see when the data comes in over the next few months.

厦门限购令暗中“解禁” 开发商酝酿涨价
Xiamen HPR secret "ban" developers brewing prices

Hohhot to cancel the purchase of the practice caused many to follow, while the price par with first-tier cities, Xiamen, also joined the ranks.

Recently, the "China Times" reporter that the field survey to Xiamen, Xiamen island purchase fully discharged, the purchase is not limited number of sets, and foreign accounts can no longer pay social security proof; island, limit foreign accounts to buy a residential, but there is no need then pay social security proof. In addition more than 260 square meters of housing purchase restrictions have also been relaxed.

"Xiamen has relaxed the restriction, but not publicly issued a document, the window can get answers to things." July 1, when the reporter call the Xiamen Municipal Bureau of Land Resources and Housing Authority (hereinafter referred to as the Housing Authority), the Housing Authority staff told reporters.

This is Xiamen relax in the second year, secretly made the purchase attempt. As early as April this year came in Fujian "Min ten" bailout documents, Xiamen brewing relax once the purchase, but the news of the bailout Fujian soon be officially denied, Xiamen purchase of relaxation and it has died.

"Xiamen in the first half of this year prices rose more than 20%, but the volume is cut close to the land does not sell, the Xiamen government was in a hurry, but forced by public pressure to relax the restriction only secretly executed." A source close to Xiamen Construction and Administration insiders told reporters.

Restriction "ban" seems positive conduction quickly. A real estate transaction is the right Xiamen membership registration center for business, housing prices back office staff told reporters that the company has plans to conduct a project Huli prices, let him come back for the record prices.

Restriction name only

"We have not received window relax the restriction notice, if you have to submit material, the window can receive, can not pass the audit to the above." July 8, Jimei District, Xiamen City Housing Authority, the staff told reporters Branch .

But in the morning, one in Xiamen Jimei District branch of the Housing Authority to collect real estate license buyers, told reporters she was not Xiamen local accounts, but the Housing Authority did not ask her to provide proof of social security, give her handle the purchase procedures.

February 2011, the introduction of the restriction order Xiamen, Xiamen family requirements prohibit the purchase of the third suite, prohibits the purchase of foreign family first two suites , no more than one year in Xiamen, tax or social security proof of purchase of foreign domestic ban. This simple and clear, with no additional conditions limit the options provisions, when the industry was interpreted as "the most stringent restriction order."

"Now do not purchase a." On the same day, these housing prices back office staff to reporters once again proven Xiamen relax restriction saying, "by the end of June when I come for the record, it has no need to submit the customer's social security proof. Housing Authority no external say only privately informed the various developers. "

At the same time, a number of reporters outside the sales office in Xiamen Jimei District have been confirmed news about the purchase of relaxation. Phoenix Area is located Kyorin Huacheng, Xia and Shang · new era in Air City, CR Oak Bay 4 new disc sales representatives have told reporters, foreigners bought a house off the island, do not limit the number of sets, do not need to pay social security proof.

"We received a notice from the company's internal July 1 to cancel the purchase, the Housing Authority does not require proof of social security there, if customers need a loan, you need to prove to the bank to pay the tax year, probably more than 10,000 yuan." This 4 The new disc sales representatives to answer the same.

Housing prices above back office staff told reporters, because the house was no longer marketable, the government had to find ways to relax, the Housing Authority has to include their real estate companies, including Xiamen senior verbally communicated over the news.

"Island listings more, so full liberalization policies, while only a handful of real estate on the island, most of the big house mansion , releasing more than 260 square meters of residential purchase, in fact, most real estate will benefit. "island lake District a new disc sales staff told reporters, as the central Shu Chien-fa, Vanke lake island, the iron yuan Bay, Hang Wo Qishang etc., the main unit is 260 square meters or more mostly luxury.

Not just houses, second-hand housing market also was lifted.

"We have been here last week to transfer the customer, outsiders do not need to submit proof of social security." Island of Xiamen Huli District West Third Road, a bell house intermediaries Kobayashi told reporters, "restriction limited to purchase, the agency did not need to lie customers, if not traded, we are also in vain. "

"Cancel the purchase, but the credit limit has not changed, although the Housing Authority is not required, but banks still need personal tax certificate." Kobayashi told reporters that the intermediary for the client agent, only about 8,000 yuan.

However, the relevant local government departments are still very cautious. When a reporter to the Xiamen City Real Estate Trading Center Right membership registration certificate hall consulting outsiders whether to buy a house, the staff immediately reply, did not cancel the purchase, or the materials required by previous audit.

Prices led the nation

One side is the actual audit has been released, the other side is still tight-lipped official foreign, which is hidden behind the Xiamen property prices go down the embarrassing situation.

According to the Xiamen City Housing Authority data show that the first half of 2014, a total turnover of 14,348 in Xiamen city's residential units, compared with 26,901 units last year, down 46.67%.

But residential prices in Xiamen was high, according to the 100 city price index, Xiamen June new residential average price of 20,365 yuan / square meter, up 1.64%, ranked third in the country, an increase of 12.65 percent, ranking first in the country and this is the Xiamen price of 25 consecutive months of increases.

The industry believes that prices have been shoulder to shoulder with the first Xiamen city, far from the bailout moment. And Xiamen inventory is not large, the data from the Housing Authority of Xiamen, as of July 8, Xiamen salable residential units for 21,946 sets, to cycle only nine months.

"This is the reason for the cancellation of Xiamen dare to openly purchase, the price is too high, the pressure of public opinion public posting too much, but will have better verbal communication, but also to reach relaxing effect." Insiders close to the above construction bureau, told reporters in Xiamen , Xiamen, Fujian, relax in the purchase by the final decision of unity.

"Since 2009, Xiamen price gone down over the past three years prices generally doubled, Xiamen strong foreign population adsorption, especially on the island of land scarcity." A Xiamen local investors told reporters that despite this year's overall the property market down, but not stagflation Xiamen price is just before the opening price than with the previous, did not really fall.

Insiders close to the Xiamen Bureau of the above considered, Xiamen is not lack of demand for the purchase, but the Government is anxious that this year a lot of buyers who are chibiguanwang volume falters, developers do not buy land, "is not only government finances decline in revenue, the local investment also declined, the economy will undoubtedly be affected. "


According to DTZ statistics, the first half of 2014, a total of Xiamen Land Grant 13, completed just 12% of the annual land transfer program. Among them, the five competing commercial and residential land per capita for the local state-owned prop Xiamen, integrated premium rate of approximately 55.3%, only half the level of last year's 117.3 percent.

Insiders close to the Xiamen Bureau of the above considered, relax restriction buyers psychological change is expected, especially in Xiamen, more than 90% of residential purchase by foreigners, under the premise of stable supply, outsiders to restore confidence in the property market in Xiamen, meaning the prices will continue to rise, and buyers are buying not to buy up.

Xiamen relax after news of the purchase, developers renewed confidence. Housing prices above back office staff told reporters that the company has projects in the island, the island's current average price of 28,000 yuan project / square meter, while the surrounding second-hand house prices generally in more than 30,000 yuan, the project does have room for price increases, but the island selling pressure, not to consider price increases.

"There are customers, we tried to persuade them to wait two months after the opening of the new buy, the price is certainly time to one or two thousand." Above Kyorin Area in a real estate sales staff reporter claimed that once the purchase is released, the price is certainly Also up.

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