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Secret Wenzhou property market plummeted: selling land for more than five years a year

Time: 2013-11-21         Source: Financial 360 finishing         Author: Han Ping
        The house price data released on November 18 showed that only one city in Wenzhou, one of the 70 large and medium-sized cities in October, continued to decline year-on-year. The property market in Wenzhou fell for the 26th consecutive month. How about the price? In addition, after the “fine-tuning” of the purchase policy, Wenzhou’s real estate transaction volume has doubled. Why does this happen?Fusion 360It is believed that on the one hand, the bubble has faded after Wenzhou's housing prices have been stirred up. On the other hand, Wenzhou's new market and China's price adjustment have entered the market.

Before 2010, the supply of land in the Wenzhou real estate market had been implementing a “hunger” policy, and each year the real estate development investment was less than 600 acres. However, after 2010, the number of land sales in Wenzhou has increased several times each year.

It is understood that as of the end of September 2013, the inventory of new houses in Wenzhou City has nearly one million square meters. In addition, there are more than 2 million square meters of new discs to be listed. In previous years, the average annual sales of commercial housing in Wenzhou city was 600,000 square meters. According to this figure, it takes about 60 months to digest the inventory, and the current year is more than five years.

However, according to the results of the survey conducted by the Wenzhou Yinjian Sub-Administration, the phenomenon of “abandoning the housing” in Wenzhou is far from the scale of “ten thousand sets” reported by the media. As of the end of August, Wenzhou Bank had a total of 216,600 sets of houses with collateral rights. The actual total number of “abandoned houses” was 597 sets, and the “abandoned housing rate” was less than 1%.

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