On April 6, it was reported that the down payment ratio of the first house in Yanjiao District of Beijing decreased from 30% to 20% 21st Century Business Herald reporter on the 7th respectively called Sanhe housing and Urban Rural Development Bureau, Yanjiao sub branch of several banks, real estate agents and sales offices to verify. The housing and Urban Rural Development Bureau and the five major state-owned commercial banks denied the news, saying that they “didn’t receive notice” and “didn’t receive documents”
On the contrary, many real estate agents and sales office staff told reporters that they had received clear news on the 6th that the down payment for the first house was 20%; However, some intermediaries said that “now the notice has been issued and the suspension has been suspended, because the impact of public opinion is relatively large after the down payment is reduced”; In addition, the staff of the sales office said: “it is said to stop, but in fact, buyers can still apply for a 20% down payment, which can basically be successful.”
housing and Urban Rural Development Bureau and bank deny
The 21st Century Business Herald reporter called the Sanhe housing and Urban Rural Development Bureau where Yanjiao is located. The staff of the real estate trading hall of the Bureau said that “I’m not sure. I haven’t received this document”, and suggested to consult the bank whether it has received the relevant notice.
Subsequently, the reporter consulted Yanjiao sub branch of China Construction Bank Corporation(601939) , Bank Of Communications Co.Ltd(601328) , Agricultural Bank Of China Limited(601288) , Industrial And Commercial Bank Of China Limited(601398) and Bank Of China Limited(601988) respectively, and the reply was “the bank can’t make a 20% down payment without receiving notice”.
Among them, the staff of Industrial And Commercial Bank Of China Limited(601398) and Agricultural Bank Of China Limited(601288) asked: “who said that? I don’t know where the information of the broker came from.”
Bank Of China Limited(601988) staff further stated that there had been no 20% down payment policy. “The down payment ratio can not be adjusted unilaterally by banks. It all depends on how the regulatory authorities decide.” The staff member stressed.
intermediary and sales office said “stopped”
Different from the statement of the housing and Urban Rural Development Bureau and the bank, the brokers of many intermediaries in Yanjiao confirmed the news to the 21st Century Business Herald reporter, saying that “yesterday (the 6th) received a notice that the down payment of most buildings was reduced to 20% and 30% for second homes”. Some brokers said that the down payment reduction policy has been suspended, “just received the notice, 20% has been suspended, and we need to wait for the follow-up notice”.
For whether the current down payment ratio of the first house can still be paid according to 20%, the broker said that “20% needs to be communicated and confirmed, and it can go normally yesterday (6th)”.
The reporter continued to ask the staff of the Sales Department of an office in Yanjiao whether to suspend the reduction of the down payment. He said that “yesterday (the 6th) informed the reduction of the down payment, and now the notice said it was suspended”. For the specific situation, the staff said: “because the public opinion has a great impact after the reduction of the down payment, it is called to stop externally, but in fact, buyers can still make a 20% down payment through the application, and basically they can apply successfully.”
It is worth noting that some real estate agents insisted that the down payment ratio of 20% can still be implemented, “it is still 20%, which has just started and has not been cancelled”. For the notice received from where, the other party said that it was not the notice from the regulatory department, but the notice from the developer, “specifically, it was discussed between the developer and the bank”
One of the above-mentioned staff of the bank told the 21st Century Business Herald reporter: “(supervision) stopped the down payment of 20%, and all banks can’t do so.” However, it is uncertain whether the staff member’s “stop” occurred recently or in the past.
Yanjiao property market fluctuation
Yanjiao is located about 30 kilometers east of Beijing international trade. It is a town under the jurisdiction of Sanhe City, Langfang. However, because a large number of young people working in Beijing choose to live here, it is also known as the “important town around Beijing”, some young people who can’t afford the house price in Beijing will also choose to “buy a home” in Yanjiao.
Over the past few years, house prices in Yanjiao have experienced a “roller coaster” like rise and fall. From 2016 to 2017, affected by the concept of “surrounding Beijing” and the influx of “speculation tenants”, the house price in Yanjiao rose wildly in a short period of time. Some new opening projects even “one price a day”. The average price of several typical projects in Yanjiao, such as Seoul sweet city, Tianyang city and Ouyi Shuian, has doubled significantly.
In 2017, the overall average price of Yanjiao doubled from about 15000 yuan in 2015 to nearly 30000 yuan, and the unit price of newly sold houses in individual projects even reached 40000 yuan.
But soon, the data fell sharply with the strict purchase restriction policy of Langfang city In June 3rd 2017, the restriction policy of Langfang requires registered residence insurance or social security certificate for 3 years. Local registered residence restriction two sets, Yanjiao house prices thus blocked, all the way down.
According to Lianjia app, by the end of March 2022, the average transaction price of Yanjiao residence was about 16000 yuan. The 21st Century Business Herald reporter inquired about the reference average prices of typical projects such as Seoul sweet city, Tianyang City, Ouyi Shuian and HuiFu banyan Bay in March, which were 18000 yuan, 19000 yuan, 18000 yuan and 17000 yuan respectively.
