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Demystifying the Wenzhou property market plunged: one year of selling more than five years

Time: 2013-11-21         Source: Rong 360 finishing         Author: Han Ping
        According to the house price data released on November 18, only one of the 70 large and medium-sized cities in October continued to maintain a year-on-year decline. The Wenzhou property market fell for the 26th consecutive month, and the price was almost waist-high. In addition, after the “fine adjustment” of the purchase restriction policy, the volume of real estate transactions in Wenzhou has doubled. Why is this happening? Rong 360 believes that on the one hand, Wenzhou housing prices have been squandered after the bubble subsided, on the one hand Wenzhou new disk and China price adjustment into the market.

Before 2010, the land supply in the Wenzhou real estate market has been implementing the “hunger” policy, and the annual investment in real estate development is less than 600 mu. However, after 2010, the number of land sales in Wenzhou has increased several times a 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 plates coming soon. In the past few years, the average annual sales data of commercial housing in Wenzhou City was 600,000 square meters. According to this data, it takes about 60 months to digest these stocks, and the current year sells more than five years.

However, according to the survey results of the Wenzhou Banking Supervision Bureau, the phenomenon of “abandoning houses” in Wenzhou is far from the “10,000 sets” reported by the media. As of the end of August, Wenzhou Bank had a total of 218,600 houses with collateral rights. The actual total number of “abandoned houses” was 597, and the “abandonment rate” was less than 1%.

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