Story : China-Home Sales/Hefei
File ID : 396415
Video ID : 10344806
Date : Recent
Published : February 17, 2017
Duration : 1'11
Location(s) : Hefei,China
Type : Chinese/Nats
Source : China Central Television (CCTV)
Restrictions : No access Chinese mainland
Pageview : 67
Summary : Home sales fumbling in east China city Hefei
Languages :

Shotlist

Hefei City, Anhui Province, east China - Recent
1. Various of realtors working at real estate agency
2. SOUNDBITE (Chinese) Realtor(partially overlaid with shot 3):
"Lately, we've only received one potential home buyer in a day. Sometimes, we have no clients for days."
++ SHOTS OVERLAYING SOUNDBITE ++
3. Customer at real estate agency
++ SHOTS OVERLAYING SOUNDBITE++
4. Customer at real estate agency
5. Realtor accompanying customer
6. SOUNDBITE (Chinese) Homebuyer surnamed Zhao:
"I think the prices are still too high and I want to wait until the prices go down further."
7. Sample house
8. Various of residential buildings
9. SOUNDBITE (Chinese) Ling Bin, deputy director, Real Estate Institute under Hefei University (ending with shot 10):
"The government's goal is to crack down on speculative buying and home purchase for investment purposes. We should give priority to the residents with rigid demand and some who are in need of a larger house."
10. Various of property sales information
11. Various of residential buildings

Storyline

Hefei, a second tier city in east China has drawn great attention in 2016 for its skyrocketing home prices.

In 2016, a wave of Chinese cities from trading centers to regional hubs reported their largest price surges in history. Hefei, the capital city of Anhui Province, led the new home price hikes last year, with a 46.3 percent year-on-year increase.

Like many other cities, the white-hot property market in Hefei finally cooled down after the local government introduced tough home-buying regulations ranging from raising mortgage downpayment requirements for both first and second homes to ruling some potential buyers ineligible.

Many local realtors said they rarely see customers in a day anymore since the beginning of this year.

"Lately, we've only received one potential home buyer in a day. Sometimes, we have no clients for days," said a real estate agent.

A Hefei homebuyer surnamed Zhao said he has been looking for a secondhand apartment for months but is still hesitant to make the purchase.

"I think the prices are still too high and I want to wait until the prices go down further," said Zhao.

Meanwhile, new home sales also became tepid in the city. Some experts claimed that last year's shopping craze in the housing market has severely overdrawn homebuyers.

Ling Bin, deputy director of Real Estate Institute under Hefei University said the house purchasing curbs have effectively reined in speculative home buying in Hefei.

"The government's goal is to crack down on speculative buying and home purchase for investment purposes. We should give priority to the residents with rigid demand and some who are in need of a larger house," said Lin.

Data showed that a total of 1,384 units were turned over in January, down 54.67 percent and 83.47 percent on a respective monthly and yearly basis.

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