Beijing Tongzhou Housing and Urban-Rural Development Commission: Subscription volume increases by 68% in two weeks after the new policy, and demand for improved products surges
Recently, the latest data released by the Tongzhou Housing and Urban-Rural Development Commission of Beijing showed that within two weeks after the implementation of the new real estate policy, the subscription volume of commercial housing in Tongzhou District increased significantly year-on-year, and the demand for improved products increased significantly. This data reflects the market's positive response to policy adjustments and also provides an important reference for the subsequent trend of the real estate market.
1. Market performance after the new policy
According to statistics from the Tongzhou Housing and Urban-Rural Development Commission, within two weeks after the implementation of the new policy (the specific time range is from October 1 to October 1, 2023), the subscription volume of commercial housing in Tongzhou District reached 1,256 units, an increase of 68% from 746 units in the first two weeks of the new policy. Among them, the subscription share of improved products (more than 120 square meters) increased from 35% to 52%, becoming the main force in the market.
| index | Two weeks before the new policy (September 16-September 30) | Two weeks after the new policy (October 1-October 14) | Changes month-on-month |
|---|---|---|---|
| Subscription quantity (set) | 746 | 1,256 | +68% |
| Improved product proportion | 35% | 52% | +17 percentage points |
| The proportion of first-home | 58% | 42% | -16 percentage points |
2. Policy background and market analysis
The market recovery is closely related to the recent new real estate policies introduced by Tongzhou District, Beijing. At the end of September, Tongzhou District adjusted its housing purchase policy, including reducing the down payment ratio and relaxing purchase restrictions, especially increasing support for improved demand. For example, the down payment ratio for second-home houses was reduced from 60% to 40%, and the purchase restrictions in some areas were lifted.
Industry insiders analyzed that the new policy has effectively released a backlog of improvement demand. As the sub-center of Beijing’s urban areas, Tongzhou District has gradually improved its supporting facilities in recent years, attracting a large number of improved home buyers. The marketing person in charge of a real estate company said: "After the new policy, three-bedroom products of 120-150 square meters are the most popular, and some popular real estate projects even have 'sunlight' phenomenon."
3. Regional heat distribution
Judging from the performance of various sectors in Tongzhou, the subscription volume in core areas such as the Canal Business District and Cultural Tourism District has increased the most significantly. The following is a comparison of subscription data for major sectors:
| Sections | Subscription volume (set) in the first two weeks of the new policy | Subscription volume (set) two weeks after the new policy | growth rate |
|---|---|---|---|
| Canal Business District | 210 | 398 | +89.5% |
| Cultural Tourism Area | 185 | 320 | +73.0% |
| Taihu section | 150 | 240 | +60.0% |
| Other areas | 201 | 298 | +48.3% |
4. Future market outlook
A relevant person in charge of Tongzhou Housing and Urban-Rural Development Commission said that the short-term effect of the new policy exceeded expectations, but we will pay close attention to market changes in the future to ensure the stable and healthy development of the real estate market. Many research institutions predict that with the arrival of the traditional peak season of "Golden September and Silver October", the Tongzhou real estate market is expected to remain hot.
It is worth noting that this policy adjustment has also driven the second-hand housing market. Data shows that the number of second-hand houses listed in Tongzhou District increased by about 15% after the new policy, and some owners chose to replace improved housing by "exchange old for new". Experts recommend that home buyers look at market changes rationally and make decisions based on their own needs.
Overall, this wave of recovery in the Tongzhou real estate market is not only a direct response to favorable policies, but also reflects the regional value improvement brought about by the construction of Beijing's urban sub-center. Whether the market can continue to heat up in the future still needs to be observed to follow-up policy trends and changes in the macroeconomic environment.
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