On October 16th, the Housing and Construction Commission of Tianjin issued three measures to cancel housing purchase restrictions, new house price limit, and other restrictions. Industry experts have noted that housing prices in Tianjin have been continuously declining over the past two years.
The Communist Party’s Housing and Construction Commission of Tianjin released a notice titled “Notice on Further Optimizing Real Estate Policies to Better Meet Residents’ Reasonable Housing Needs.” The notice stated that Tianjin will cancel restrictive measures related to housing: removing restrictions on the purchase and transfer of new commercial housing and second-hand housing; no longer guiding the maximum selling price of new commercial housing; canceling the distinction between ordinary and non-ordinary housing standards, with the minimum down payment ratio set at no less than 15% for both first-time and second-time home buyers.
In response to this, Niu Xiaohui, a senior analyst at the Zhongzhi Research Institute’s Tianjin branch, told Huaxia Times on October 16th that Tianjin’s move to lift housing restrictions is in line with the current macro situation of real estate market regulation and is expected to have a positive impact on market supply and demand dynamics and transaction activity.
A real estate agent in the Heping District of Tianjin, Lin Bai (pseudonym), stated, “As soon as the policy was announced this morning, several people called in the morning to inquire. Most of the clients work in Hebei and Beijing, and they want to buy a house for their children’s education and exams.” “Seventy percent of homebuyers are migrants, many of whom are buying houses in Tianjin for their children’s education. Currently, Tianjin does not have a policy for settling down after buying a house, but it is not difficult to settle down in Tianjin,” said Lin Bai.
Lin Bai further noted that over the past two years, housing prices in Tianjin have been declining steadily. The transaction volume in the Heping District, Hexi District, and Nankai District has remained good due to the high-quality educational resources, with the unit price of some properties in the Heping District reaching 110,000 yuan per square meter, while prices in the Hexi District and Nankai District are around 40,000 yuan per square meter.
However, data released by the top real estate trading app showed that on October 15th, the average transaction price of second-hand houses in Tianjin was 15,200 yuan per square meter, indicating significant price differences in different areas.
According to the Centaline Property Index System, in September 2024, the prices of second-hand residential properties in Tianjin fell by 0.71% compared to the previous month, continuing the downward trend.
Data monitored by the Zhongzhi Research Institute also indicated that in the third quarter of this year, the supply of commercial residential properties in Tianjin was 1.927 million square meters, a nearly 20% decrease compared to the same period last year, with a total transaction area of 1.646 million square meters, down by 14%.