Marketing Strategy and Countermeasures for a New Round of Real Estate — Case Study of the Real Estate Market in Nanjing.doc
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1、Marketing Strategy and Countermeasures for a New Round of Real Estate Case Study of the Real Estate Market in Nanjing Baoqian WANG*, Caixia WANGSchool of Business, Hohai University, Nanjing 210098, China KEYWORDS Nanjing,Market of real estate, Marketing strategy ABSTRACTThe rapid increase in house p
2、rice in 2009 together with the strictly executed macro controlling policy in 2010 resulted in a weak market of real estate nationwide, in which business volume has substantially decreased and buyers are waiting and seeing the opportunities with currency, so the real estate enterprises are confronted
3、 with more and more financial pressure. The paper puts forward the following marketing strategies for the real estate enterprises at present: selling some houses by reducing prices to deal with the urgent funding gap problem; conducting interactive marketing by effective methods, especially paying a
4、ttention to developing personal marketing strategies of important customers; improving the traditional service mode, and establishing exchanging platforms with potential customers by new media so as to increase trust degree.1、 Introduction Many domestic and foreign scholars analyzed the reasons to p
5、rice rising of real estate. Foreign research results broadly divided into the following three categories: land prices directly affect the price of real estate; housing prices are directly affected by population, employment growth, income and interest rates 1; bank credit also has some relevance with
6、 the real estate prices 2. And our domestic study mostly carried on empirical research on basis of foreign theoretical results. The main theoretical approaches are cost theory and supply-demand balance theory. The formers main contents are rising costs of real estate make Chinas housing prices keep
7、soaring; the latter mainly analyze the fluctuation in real estate market from two aspects-supply and demand. The study factors include population, income, rent and financial credit. Based on the domestic and foreign results, this paper analyzed the reasons for a new round price rising of real estate
8、 in Nanjing from the demand and supply aspects, as well as the particular financial credit background in 2009; at last, put forwards countermeasures for rapid price growth. 2、A New Round Price of Real Estate in Nanjing Rising Fast Than Expected The price in Nanjing real estate market has been runnin
9、g in high position since 2009, real estate investment has grown faster, commercial housing prices continue to climb, and land market is quite active. Housing prices increased pay pressure on homebuyers, which caused widespread concern in all social circles. 2.1 Real estate investment maintains a hig
10、h level In 2009, real estate investment in Nanjing city reached 59.568 billion Yuan, 17.2% greater than the corresponding period of the previous year. The share of real estate investment in total social investment in fixed assets accounted for 22.3%, essentially flat with last year. Growth rate of r
11、esidential investment began to rise again. The investment of office buildings and commercial buildings was growing rapidly. Judging from the orientation of investment, residential investment in 2009 completed 43.941 billion Yuan. It increased by 7.2% as compared to 6.9 percentage points higher over
12、the first quarter. Office building investment completed 2.835 billion Yuan, increased by 27.1% as compared. Commercial buildings investment completed 6.786 billion Yuan, increased by 84.6% as compared. 2.2 The supply fell short of demand in the real estate market on the whole Nanjing commercial hous
13、ing market showed the situation of supply and demand booming in 2009. The new supply of housing resources reached 74, 000 sets throughout the year, increased slightly by 11.7% year on year. From the new supply in each month, the condition in the first three quarters was relatively stable except for
14、a slowdown in May and June. The new supply sets in each month remained about 6,000. The supply concentrated in the fourth quarter with the climax in December which provided 15 844 sets of commercial residential buildings. The whole years accelerated turnover reached 97,000 sets, increased 127.3% sig
15、nificantly as compared, but January and February continued the weakness in 2008. Because of the outbreak of rigid demand in March, Nanjing property market fully warmed up, which rose to its first peak in April. November and December transacted over 10,000 sets, and the latter has the highest trading
16、 volume. Figure 1 2008-2009 Nanjing new supply of commercial housing However, the overall market situation presented in short supply. From the monthly data, Nanjing rigid demand of commercial housing market broke out in the second quarter, while the supply slowed down, supply-demand relationship sig
17、nificantly changed. The ratio of sales amount to the new listing number reached above 2, which showed the most obvious contradiction between supply and demand. In December, for the great rose in new supply, the ratio of sales to supply fell to 0.91, so contradiction between supply and demand became
18、eased. 2.3 Transaction price has been steadily rising in the real estate market In terms of prices, Nanjing commercial housing price index rose from 1020 points in January to 1128 points in December. Specifically, the new commercial housing prices in Nanjing first fell down, then grew up, especially
19、 in the second half, prices rose gradually. By the end of 2009, house prices increased by 36% compared to January. There were several main reasons for prices rising, such as great market demand and short supply caused further conflicts between supply and demand and boosted housing prices; high-end r
20、esidential sales occupied a high proportion, the proportion of 10,000 Yuan/square meters of residential sales rose from January s 15% to Decembers 26%. Figure 2 2007-2009 Nanjing residential real estate market price index 3、Reasons for a New Round Price Rising of Real Estate Market Reasons for bubbl
21、e formation are complex. Financial market innovation, economic uncertainty, the imbalances of economic structural, the monopoly of asset markets and so on, they are all important factors. This article mainly explained the reasons from the aspects of the demand-supply condition in the real estate mar
22、ket and the financial-credit level. 3.1 Great consumer demand pulled real estate prices 1) Nanjing rapid economic development and steady improvement of peoples income make homebuyers accumulate certain purchasing power. In 2009, GDP reached 417 billion Yuan, increased by 11.5%; per capital GDP was c
23、lose to 8,000 U.S. dollars, while per capita GDP of Nanjing in 2003, 2005 was only 3000 and 5000 U.S. dollars respectively. In 2009, per capital annual disposable income of urban residents was 25,504 Yuan, increased by 10.3% compared to the last year; rural per capita net income reached 9850 Yuan, i
24、ncreased by 10%. It is expected that the citys GDP will have a growth rate of 12% in 2010, and this number will exceed 600 billion Yuan in 2012 and 1 trillion Yuan in 2015. By then, the disposable income of urban residents and rural per capita net income reached 50,000 Yuan and 17,000 Yuan respectiv
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