In the town of Wentang, Pingshan County, Shijiazhuang, Hebei Province, there are currently many hot spring houses priced at less than 100,000 yuan (RMB). Many people from Beijing are buying houses there. According to some real estate agents, the vacancy rate in some neighborhoods is high because the developers developed too many properties in the early stages. Additionally, the entire town of Wentang does not have central heating, and the prospect of heating in the near future is distant. This is one of the reasons for the low occupancy rate in winter.
华夏时报 reported on the 28th that many properties are priced between 60,000 and 80,000 yuan. Why are they selling so cheaply? “The overall economic environment is not good, prices are falling nationwide,” admitted a local real estate agent.
Taking Shijiazhuang Shengchi Garden Community as an example, real estate agent Xu Hong (pseudonym) is currently selling a one-bedroom apartment with an area of 56.63 square meters for a total price of 60,000 yuan, with a unit price of 1060 yuan per square meter, a 70-year property right, eligible for mortgage, and a down payment ratio of 20%.
Xu Hong, a local of Pingshan County, has been working in real estate agency for 8 years. She mentioned that her husband has opened a real estate agency near Shengchi Garden, and she manages a supermarket while selling houses. In January this year, she had already sold three hot spring houses, with many buyers being from Beijing.
The overview of the house priced at 60,000 yuan in Shengchi Garden mentions that it has a 70-year property right, is eligible for a mortgage, and provides a free parking space. Additionally, there is a bus stop at the entrance of the community, with dozens of buses passing by every day. Within a one-kilometer radius, there are hospitals, large supermarkets, and more.
Besides Shengchi Garden, communities such as Dong’an Kubo, Sunshine Valley, Hot Spring Green Manor, and Rhine Holiday also have properties priced between 60,000 and 80,000 yuan. According to some real estate agents, there are many vacant hot spring houses in the area, mainly due to excessive development by previous developers.
Real estate agents point out that the entire town of Wentang currently lacks central heating, and centralized heating seems to be a distant prospect. This is also one of the reasons for the low winter occupancy rate.
According to real estate agent Zhang Wei (pseudonym), for residential areas with hot springs, the number of days per week when hot spring water is available varies. For example, Sunshine Valley has hot springs for six days a week, Hot Spring Green Manor for four days a week, Shengchi Garden for three days a week, and Dong’an Kubo for two days a week.
The report mentioned that many houses with hot springs do not have central heating in winter, so residents have to heat their homes using their own equipment. During extremely cold days, the occupancy rates in some communities are not high. Some homeowners mentioned that they have spent thousands of yuan on heating equipment for their homes.
Local real estate agent Lin Qiang (pseudonym) stated that the entire town of Wentang does not have central heating. “Central heating is a distant prospect. If someone tells you there will be central heating, don’t believe it!”
Regarding why Wentang Town does not have central heating, Lin Qiang explained that in the past when regulations were not as strict, each household used hot spring water for heating. However, as regulations became more stringent, it was no longer possible to use hot spring water for heating. The low winter occupancy rate is related to the lack of central heating.
Anjuke data shows that house prices in Wentang Town have dropped by nearly one-third over the past three years. In March 2022, the price was 3159 yuan per square meter, and by December 2024, it had dropped to 2382 yuan per square meter.
However, there is a significant difference between the listing price and the actual transaction price on trading platforms. For example, in Qingqing World Community, Wentang Town, there is a 47-square-meter hot spring property listed at 110,000 yuan, but real estate agents claim it can be sold for as low as 60,000 yuan.
Wentang Town is located in Pingshan County, Shijiazhuang City, in the western part of Hebei Province. The county seat is 30 kilometers from the provincial capital, Shijiazhuang City.