Amidst regulatory measures, the volume of real estate transactions in various regions has decreased, and housing prices continue to reasonably adjust. Yesterday (the 5th), the China Index Academy released the trading conditions of the main cities' real estate markets last week. The data showed that among the 40 cities monitored last week, the average transaction volume of the real estate market in 18 cities decreased year-on-year, with a decline of over 50% in six cities. Meanwhile, the decrease in land market transaction volume was also noticeable.
Under regulation, the volume of real estate transactions in various regions has dropped, and housing prices continue to reasonably adjust.
Consolidating Regulatory Achievements, Continuing to Promote Reasonable Adjustment of Housing Prices
In the government work report delivered by Premier Wen Jiabao, it was proposed: Strictly implement and gradually improve policies and measures to suppress speculative and investment demands, further consolidate regulatory achievements, and promote reasonable adjustment of housing prices.
The central government's stance is very clear; its determination to strengthen real estate market regulation is unwavering. This tells people that promoting reasonable adjustment of housing prices must continue, and there should be no doubt about this.
Since the implementation of real estate control policies centered on "purchase restrictions and loan limitations," comments such as "the capital chain is about to break," "the real estate market will collapse," "rigid demand is greatly affected," "banks will have many bad debts," and "market mechanisms are being destroyed" have occasionally surfaced.
Indeed, stringent real estate control policies have had an impact on some places and individuals: investments have been restricted, the door to speculative loans has been closed, selling without price reductions has become difficult, and local governments can no longer heavily rely on land finance. However, the emergence of these "impacts" is precisely the goal of the control policies, which are basic guarantees for the healthy operation of the real estate market, indicating that the policy controls are precise.
Under the strong influence of control policies, housing prices in most cities have begun to decline month-on-month, entering the track of reasonable adjustment. But this adjustment is just beginning and is far from over. Some representatives and committee members participating in the two sessions believe: If there is any relaxation in control policies, housing prices may experience a "revenge rebound," and the achievements of real estate market control may be "ruined."
The concerns raised by representatives and committee members indeed have their reasons. After a year of strict control, the atmosphere of market observation remains heavy, doubts persist, and small-scale actions occur frequently. As pointed out in the government work report by Premier Wen Jiabao, the real estate market control is at a critical stage. The judgment in the government work report can be said to give peace of mind regarding real estate control this year.
"Stabilizing growth" is one of China's development goals this year, and the emphasis on "stability" requires maintaining high vigilance against some deep-seated issues existing in the macroeconomy. Issues exposed in the real estate market sector, such as "land finance" and excessively high housing prices, need to be resolutely addressed. At the same time, further consolidating the achievements of real estate control and vigorously advancing the transformation of economic development patterns will promote the long-term stable and healthy development of the real estate market.
Experts: Direction of Real Estate Control Unchanged, Housing Prices "Steady with Declines"
The government work report proposes to strictly enforce and gradually improve policies and measures to suppress speculative and investment demands, further consolidate control achievements, and promote reasonable adjustments of housing prices. Continue to advance the construction of affordable housing projects, ensuring quality while basically completing 5 million units and starting more than 7 million new units. Quickly improve systems related to the construction, distribution, management, and exit of affordable housing. Take effective measures to increase the supply of ordinary commercial housing.
Experts indicate that macro-control of the real estate market will not relax. Investment and speculative demands in the real estate markets across the country have been significantly squeezed out of the market, and first-time homebuyers and other reasonable housing demands will receive support.
Vice President of the China Real Estate Society, Chen Guoqiang, believes that under the current tone of stringent real estate macro-control policies, a basic characteristic of housing prices in 2012 will be "steady with declines." Different cities may exhibit different performances; housing prices in some cities may fall, while in others, the rate of price increases may slow down.
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