2014-08-08

Foshan Eases Buying Restrictions, Sales Go Past 1 AM

More Chinese cities relax property rules
Foshan, a southern city in Guangdong Province, relaxed restrictions yesterday that limited the number of homes that residents can buy, the government said on its Weibo microblog.

The result in Foshan was a surge in buying and developers are considering price hikes.
And in the evening news, in Foshan multiple projects' sales offices "burned the midnight oil" and sold homes overnight, some developers have begun considering price hikes.

楼市再现通宵卖楼凌晨一点还在选房 开发商酝酿涨价
[News of the night, Foshan multiple projects sales offices, "burning the midnight oil", overnight sold, some developers have even started brewing prices]

Foshan to officially release the restriction, Guangdong Province became the first restriction relaxed city.

Previously, according to rumors, since August 7 morning Foshan cancel the purchase, the local identity of each can be purchased two suites, the field ID can purchase a suite.

Foshan propaganda office of the official micro-channel account "Foshan Hui" quickly confirmed the news, and citation analysis, said the building housing the Bureau of Foshan to relax the restriction is based on the consideration to inventory and other aspects.

This positive news, Foshan, a number of developers and agencies first time held a special meeting to discuss the market changes and coping strategies.

And in the evening news, Foshan multiple projects sales offices, "burning the midnight oil", overnight sold, some developers have even started brewing prices.

Guangdong's first relaxed cities

Foshan starting from August 7 morning release property purchase.

Release the purchase of specific content: the purchase of an object from a "family" as the unit adjust to the "individual" as a unit, the original provisions of Foshan local residence households owned two houses after the implementation of the purchase, adjustments have to Foshan household resident individuals two houses after the implementation of the purchase; the original provisions of the non-permanent residents in Foshan in Foshan local family must provide social security or tax certificate qualified buyers only have to adjust for non-household workers in Foshan City, Foshan homeownership with ID cards are not available in the city buy a house.

In other words, if both spouses are Foshan residence, can have up to four housing units. Non-household staff in Foshan City, Foshan not have housing, with ID cards can be purchased a home in Foshan City.

Foshan propaganda office of the official micro-channel public account "Foshan Hui," citing analysis of Foshan City building housing the Authority, citing the purchase of six Foshan relaxed reasons.

Foshan City building housing the Board believes that it is necessary for the real estate market in Foshan City, the existing policy measures conditional adjustment and improvement, and that the sound can be adjusted in active markets and mitigate these new problems to some extent, but it does not appear abnormal prices fluctuations. District council and housing construction sector will closely follow market trends to improve after the policy change, to take appropriate measures to ensure Foshan City real estate market is stable and healthy development.

In fact, prior to this, there are over twice in Foshan relax impulse purchase, and eventually died due to the pressure of public opinion.

October 11, 2011, Foshan building housing the Bureau issued "on further strengthening the city's real estate market regulation issues related to notice" on the four population groups to cancel the purchase, but just over 12 hours, Foshan building housing the Bureau in its official website announced the suspension of the implementation of the policy.

In May this year, a "relaxation of restriction on Foshan Trial policy statement," circulated on the Internet. The "policy statement," said the lead "deregulation" in Gaoming purchase of non-household population without social security or tax certificate, identity card will be able to simply buy a set of commercial housing in the area. Gaoming HS day after a text message to inform local developers stay of execution of the policy. Foshan subsequently responded that the building housing the Bureau will explore the purchase of Gaoming District in execution carried out to make a careful assessment.

Overnight flats for sale

"Let go of the purchase of the news is out in the 6th afternoon, evening developers have a lot of projects in the sales office burning the midnight oil, such as early morning restriction only release." Foshan, a local agency on the " first Financial Daily "correspondent said.

Shunde is located in Shunde Kau, close to Panyu Country Garden [ latest news Price Unit Reviews ] project is about to hit the implied price hike news, on the 6th night there are a lot of buyers come from two places went to Guangzhou and Foshan of this project the election room. Shunde Country Garden's sales manager罗荣芳"First Financial Daily" reporters, said about 23 o'clock the evening of 6, the project appeared buying phenomenon to 1:00 for a long time, there are still a lot of customers have not yet left the scene. She said the average price of products sold in 8000 yuan / square meter, the price will be adjusted based on market conditions.

The same situation also appears in Guicheng Jihua Road, Seven Golden [ Introduction News ] on Long Yue project, according to the official micro-channel of the project, the evening of 6 projects sales department now buy overnight phenomenon, night turnover of more than 30 suites.

These intermediaries, said the purchase of Foshan let short-term effects would be more intense. After all, under the restriction, many of the spending power is limited, the threshold is now open, and will release part of the spending power.

Affected by this, some developers have started brewing prices.

"Originally sell better projects or houses, there are already some rose 5 percent." These intermediaries sources, the price of a TOP10 developers in the project at the junction of Guangzhou and Foshan from 11,000 yuan before the purchase / square meter rose to 12,000 yuan / square meter, or nearly 10 percent.

In fact, before the release restriction, many in Guangzhou or no qualified buyers who can not afford housing are flocking to Foshan. Analysis of the industry, open after the purchase, the biggest benefit will be the junction of Guangzhou and Foshan plots.

However, some of the original project is not good to sell, the price has not been a big rise.

Hopefluent Le Jiang, chief market analyst analysis, the primary task now many developers is to inventory, return of capital, and therefore should cherish the purchase of a rare opportunity to relax, to step up sales, price impulse is not large. He believes that in the upcoming Golden nine silver ten volume, Foshan will usher rose.

"In the long run, let go in the end affect the purchase of much remains to be seen, because the credit limit policy has not changed, Liu Cheng two sets down, three to pay the full amount, the threshold put in there, can afford to buy two sets, three limited set of consumer groups. "these intermediaries said.

Brothers cities to follow up?

Guangdong Province, the first release as a restriction of the city, whether it will lead to acts of Foshan, Zhuhai, Guangzhou, Shenzhen and follow-up?

Le Jiang appears in Zhuhai, Guangdong Province, will be the second release restriction city, and Guangzhou, Shenzhen, at least until next year possible release.

This year, Zhuhai relatively sluggish property market transactions, the main city in the first half of commercial net signed volume of only 2386 units, 4113 units over the same period last year, the results fell 41.9 percent.

Analysis of the industry, Zhuhai and Foshan belong to second-tier cities, and now release the purchase of Foshan, Zhuhai and should soon will choose to follow up.

As Guangzhou, Shenzhen these two cities, the pace of liberalization of the purchase will be slower.

August 5, Hopefluent and SouFun in Guangzhou on the "'ear six' should adhere to the" Policy Seminar held the title, they think that under current conditions Guangzhou housing prices have been flat to down, Guangzhou, more than 3 years tax certificate can be re-adjusted to more than a year, while reducing the two suites threshold to meet some of the wards needs.

Shenzhen also reported in recent days the news release restriction, but the Shenzhen Planning and Land Committee then conducted a rumor, and said, "Shenzhen is still classified in accordance with national regulatory requirements, strict implementation of housing restriction policy."

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