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Express News | In 2024, the total sales of the top 100 real estate companies reached 4354.73 billion yuan, a year-on-year decline of 30.6%.
Express News | In Shanghai, land auctions exceeded 240 billion yuan throughout the year, with state-owned enterprises leading and private enterprises returning.
Daily Real Estate Industry Update Summary (2024-12-31)
At the end of the year, the popularity of second-hand homes in Shanghai remains strong, with a single-day volume reaching a new high for the year on the weekend. Online real estate data shows that on December 28 (Saturday), Shanghai had 1,466 units of second-hand homes signed online in a single day, surpassing the 1,334 units on October 13, setting a new record for single-day sales of second-hand homes this year.
The Development Bureau invites the market to submit letters of intent for the pilot development of the Northern Metropolis Area.
The Development Bureau announced that starting today (December 31), a market intention survey will be conducted for three months, inviting the market to submit letters of intent for the three "area development" pilot projects in the northern metropolitan area. The goal is to gradually invite tenders for the three area development pilot projects from the second half of next year until 2026, with a briefing session for the invitation of letters of intent expected to be held on January 16 next year. The Bureau indicated that adopting the "area development" model in the northern area is a new attempt; therefore, the government hopes to gather opinions and suggestions from the market to finalize the details and terms for future public tenders. The invitation document for letters of intent specifies the concrete development requirements of the "baseline scenario" for each pilot, making it easier for those interested.
2024 Shenzhen real estate summary: A record has been broken.
The housing market is facing headwinds.
The interest rate for the Shanghai public housing fund loans is adjusted downward, with the new standard taking effect tomorrow.
The Shanghai Municipal Housing Provident Fund Management Center has issued a notice stating that in order to implement the decision made by the People's Bank of China on May 17, 2024, to reduce the interest rate on personal housing provident fund loans by 0.25 percentage points, starting from tomorrow (January 1, 2025), the adjusted interest rates will apply to outstanding personal housing provident fund loans that were issued before May 18, 2024. The interest rates for provident fund loans will be uniformly reduced and there is no need for borrowers to apply. After the adjustment, the interest rates for the first set of personal housing provident fund loans will be 2.35% for loans below five years and 2.85% for loans over five years, while the interest rates for the second set of personal housing provident fund loans will be...
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