Buying sentiment in the real estate market continues to be affected by credit controls and bank loan restrictions. On the other hand, the Zhonghe real estate market still shows resilience. Not only has the index project "Hanhuang Fangyuan" recently set a new record for pre-sale prices in New Taipei, but the pre-sale transaction volume in the second quarter has increased by 60%. It is worth noting that although the price difference between pre-sales and existing houses is 260,000 yuan higher per square meter, the market still shows a differentiation trend of "new projects can still be sold at high prices, while buying momentum is weak at low existing prices."
Even if the housing market has turned to wait-and-see buying, the Zhonghe pre-sale market still retains a certain degree of popularity. According to recent real price registrations, the top floor unit of the regional index project "Hanhuang Fangyuan" was sold for 1.2648 million yuan per square meter, once again breaking through the pre-sale housing price ceiling in New Taipei. At the same time, in the price and volume performance of Zhonghe in the second quarter, the pre-sale market also showed a phenomenon of "price and volume rising together". The average transaction price rose from 782,000 yuan in the first quarter to 814,000 yuan, a quarter-to-quarter increase of 4.0%; the transaction volume increased from 134 to 217, a quarter-to-quarter increase of 60%; although the pre-sale volume in the second quarter declined slightly compared with the same period last year, the transaction volume in a single quarter has rebounded significantly, showing that even as the market cools down, Zhonghe still has a certain ability to undertake new projects.
"Hanhuang Fangyuan" is close to mature living areas such as No. 4 Park and Yong'an Market Station of the MRT. Coupled with well-known local builders and small and medium-sized product planning, it has the conditions to attract the attention of self-occupied and house-changing groups. Therefore, it can maintain a certain price. It is not surprising that high-rise households have set a new high price in the region. At the same time, Zhonghe's recent project momentum is still strong. Large-scale index projects have entered the market this year, including "Left Bank Pearl" with a total sales of approximately 40 billion yuan, and "Baoya World Residence" with a total sales of approximately 8 billion yuan. Large-scale new projects continue to enter the market, which also keeps the Zhonghe pre-sale market hot.
Observing the actual price registration of the Ministry of Interior, "Left Bank Pearl Area B" and "Baoya World Residence", which were opened in June, had about 63 and 58 transactions respectively. In addition to the index of new cases, the performance was good; according to the actual registration data, the sales of the cases also maintained a certain level. It is easy to gain popularity. For example, in the first half of the year, there were still 126 transactions in "Datong New Era" jointly launched by Zhonghe MRT, and 61 transactions in "Sunrise Guoxu", which shows that projects with location, transportation or brand advantages can continue to attract the attention of buyers.
If the scope of observation is pulled back to the existing housing market, the performance is obviously inferior to that of the pre-sale market. According to Seteng, the average transaction price of existing homes in Zhonghe in the second quarter was 551,000 yuan, a slight increase of 0.5% from 548,000 yuan in the first quarter, but a decrease of 1.4% from the same period last year; the transaction volume increased from 401 in the first quarter to 439, a quarterly increase of 9.5%, but a decrease of 12.9%, or about 10%, from 504 in the same period last year. It should be noted that the average unit price of pre-sold houses in Zhonghe in the second quarter was 814,000 yuan and the average unit price of existing houses was 551,000 yuan. The difference in price per square meter between the two was about 260,000 yuan. The pre-sale price was about 47.7% or nearly 50% higher than that of existing houses. However, even if the gap between old and new house prices is obvious, new projects are still relatively popular and sell more.
Bi Wujie, director of the news and public relations department of 591 Housing Trading Network, pointed out that while housing prices in Shuangbei are still at a high level, Zhonghe has mature living functions and MRT transportation advantages, and is favored by many self-occupiers and house-changers; although in the correction stage of the housing market, existing houses are relatively affordable. However, new projects have the advantages of novel products, square footage planning, and brand builders that are more in line with buying needs. Currently, market funds and buying momentum are more concentrated on new projects, thus forming a market differentiation in which "new projects have price and quantity, while old projects have weak capacity."
In addition, Zhonghe still has many dangerous elderly cases under planning, including the "Fuhua Dayang Dugeng Case", "Dunyang International Developer Shanlu Case", etc. According to market research and construction project data, if all relevant projects are successfully launched this year, the overall project volume is expected to exceed 80 billion yuan, an increase of approximately 95% compared to last year's total sales of approximately 41 billion yuan. However, as the overall real estate market is still affected by credit controls and the financial environment, whether the popularity of new projects can continue in the future and whether prices can continue to be accepted by buyers will become the focus of observation in the next stage of the Zhonghe real estate market as subsequent supply gradually enters the market.
