"Stability" is the primary task of real estate at present.

since the beginning of this year, with the warming of the real estate market in some hot cities, local governments have increased the regulation of the property market in order to stabilize the market. But contrary to the regulation of these hot cities, some non-hot cities are carrying out reverse regulation.

Recently, Zhangjiakou Housing and Construction Bureau and Zhangjiakou Finance Bureau jointly issued the Notice on Further Accelerating the Improvement of Long-term Real Estate Mechanism. Among them, the notice stated that all items should not be sold outside the record price. The project that has obtained the pre-sale permit shall not be sold below the cost, and the project that has newly obtained the pre-sale permit shall not be sold below 85% of the record price.

This also means that another third-and fourth-tier city has joined the "limit drop" camp.

the "fall limit order" has reappeared

In fact, the "fall limit order" has a long history.

As early as 214, relevant departments in Hangzhou had requested that if the actual transaction price of commercial housing was lower than the record price by more than 15%, online signing would be restricted by technical means. Since then, some cities, including Huizhou and Maanshan, have successively issued relevant policies to prevent malicious price cuts.

in the eyes of the industry, whenever the market cools down, some real estate enterprises will have a sharp price reduction and promotion behavior. At the same time, in order to stabilize the local real estate market, local governments will introduce some measures to prevent malicious price cuts.

this situation is even more common this year. According to the incomplete statistics of China Housing Network, up to now, eight cities, including Zhangjiakou and Tangshan in Hebei, Kunming in Yunnan, Yueyang and Zhuzhou in Hunan, Jiangyin in Jiangsu, Heze in Shandong and Shenbei in Shenyang, have restricted the price reduction of enterprises by issuing relevant policy documents or interviewing.

In addition to Zhangjiakou City in Hebei Province mentioned above, Jiangyin City in Jiangsu Province and Yueyang City in Hunan Province have also issued similar policy documents this year.

On August 31st, the Notice on Further Promoting the Healthy and Stable Development of the Real Estate Market issued by the Housing and Urban-Rural Development Bureau of Jiangyin City, Jiangsu Province clearly stated that after the sales price of commercial housing was put on record, the actual transaction price of commercial housing should not be higher than the record price. At the same time, it is strictly forbidden to promote sales at low prices (such as below the cost price, price reduction in disguised form, etc.) and resolutely put an end to vicious competition, lowering the standard and quality, and late delivery and other illegal acts. For the behavior of price reduction in disguise, corresponding punishment measures are also made. For those with bad circumstances and serious damage to Jiangyin market order and social stability, all batch pre-sales are cancelled and sold as existing homes.

On August 11th, the Notice of Housing and Urban-Rural Development Bureau of Yueyang City, Hunan Province issued on the price limit of online signing of new commercial housing in the real estate market, which stipulated that after the sales price of new commercial housing was put on record, the actual transaction price of commercial housing sales should not be higher than the filing price, nor lower than 85% of the filing price, otherwise the online signing and filing system of commercial housing will prompt that the online signing and sales contract of commercial housing cannot be signed.

in some cities, enterprises are restricted from reducing prices by means of interviews.

in September, in view of the phenomenon that many real estate enterprises sold new commercial houses at a substantial price reduction or at a price significantly lower than the normal market price, Zhuzhou Housing and Construction Bureau interviewed the project leaders of enterprises who had the above behaviors, and recorded them in the bad credit records of enterprises.

in August, Tangshan municipal government held a forum for real estate enterprises and interviewed the heads of 1 real estate enterprises. The suppression of malicious price cuts is one of the contents discussed at this meeting. Similarly, Shenyang Shenbei Real Estate Bureau took the lead in interviewing a number of housing enterprises in conjunction with a number of government departments, focusing on false advertising and price reduction sales.

In Kunming, the local housing society organized a forum for TOP3 housing companies and large brokerage companies to strictly control malicious price reduction, and in severe cases, the online signing will be stopped.

The market is a little tired

Why did the price reduction behavior of enterprises attract the attention of local management?

Since the beginning of this year, severe real estate regulation has made the property market slightly tired. This also directly led to the performance of some housing enterprises falling short of expectations, and even made some housing enterprises on the verge of bankruptcy. Under the pressure of cash flow and sales refund, some housing enterprises began to cut prices sharply, disrupting the normal market order.

according to the "national real estate development investment and sales from January to August 221" previously published by the national bureau of statistics, Zhongfang. com split the sales data month by month, showing that the sales data began to decline sharply after hitting a monthly high in June. Until August, the monthly sales data hit the lowest point in the year, and the market turned cold.

similarly, in terms of housing price performance, according to the "Changes in the Sales Price of Commercial Housing in 7 Large and Medium-sized Cities" published by the National Bureau of Statistics, in August, the sales prices of new commercial housing and second-hand housing in various cities declined or continued to decline.

Take Zhangjiakou City, Hebei Province as an example. At present, the house price in the main urban area of this city has dropped from the peak of about 13, yuan/square meter to the average price of more than 8, yuan/square meter. Especially since the second half of the year, a number of properties in and around Zhangjiakou have been forced to sell below the cost price due to the pressure of cash flow and sales repayment.

The relevant person in charge of the real estate supervision department of Zhangjiakou Housing and Construction Bureau said that the drastic price reduction measures of some real estate projects have brought great influence to the whole real estate market, and also brought great sales pressure to other real estate projects. When buying a house at a price significantly lower than the cost, the investment in supporting facilities of the house will definitely spread high expenses in the later stage of protection, so the "limit order" will protect the interests of buyers to a certain extent. It can also be said that the "limit order" was issued in order to maintain the sales order of the real estate market in time and better maintain the normal operation of the real estate market.

This is indeed the reason why some third-and fourth-tier cities have issued "limit orders".

A hot report recently released by the China Housing Research Association pointed out that on the one hand, the local government issued the "limit order" because of the alternative control policy under the background of "stabilizing land prices, stabilizing housing prices and stabilizing expectations", and its purpose is also to prevent the sharp rise and fall of housing prices and promote the healthy development of the real estate market. On the other hand, the reason is to guard against financial risks. Excessive decline in house prices may lead to mortgage default risks, including not only family housing mortgage loans, but also housing development loans.

Yan Yuejin, research director of think tank center of Yiju Research Institute, told Zhongfang. com that from the perspective of housing prices, it is necessary to combat the excessive rise of housing prices and ensure that housing prices do not fall too fast. The disorderly price reduction in some cities will lead to chaos in the market order. From the risk point of view, in addition to the rapid rise, some new situations such as the rapid decline in housing prices in some cities are also worthy of attention.

In fact, the appearance of "limit order" in some cities can better explain the precision and refinement of local policy regulation. If the "limit order" issued by some cities is interpreted as relaxing real estate regulation, it is somewhat exaggerated.

President Feng Jun of China Real Estate Association warned the real estate enterprises present at the recent "221 China Real Estate Value Summit" that they should deeply understand the requirements of deepening the long-term regulation mechanism, observe the orientation that "houses are for living, not for speculation", and do not doubt or even challenge the central government's determination to adhere to this program; Efforts should be made to meet the growing needs of the people for a better living and living; It is necessary to comply with the red line requirements of real estate financial supervision and market order regulation, so as to correctly carry out production and business activities at the source and ensure that the real estate industry is a livelihood industry that provides positive energy for economic and social development.

According to President Feng Jun, some of the problems in the development of the real estate industry in recent years and those in some real estate enterprises are attributed to the frequent adjustment of policies. In fact, this is the targeted policy measures issued by each city due to the city's policy. "The direction is clear, the thinking is clear, and the value orientation is clear," Feng Jun said.

it remains to be seen how effective the "limit order" of individual cities can be. However, the China Housing Research Association predicts that this year's "Golden September and Silver 1" may be the most deserted in recent years, and it does not rule out the possibility of obvious price cuts in the future. Some real estate enterprises headed by Evergrande were forced to cut prices and promote sales on a large scale due to the huge pressure on the capital chain, which caused the expectation that the market house price would fall. The "limit order" is expected to expand in more third-and fourth-tier cities, and more cooperation policies are expected to be introduced in the future to promote the orderly development of the market.