Which is the first choice for commercial, residential, shops and office investment?

Since the implementation of the Beijing property market purchase restriction order in February, 20 1 1, some small and medium-sized investors who are no longer qualified to buy houses have turned their attention to commercial real estate projects that are not limited to purchase. Not only commercial and residential apartments sell well, but also shops and office buildings with investment value are welcomed by the market.

Although commercial real estate projects are improving as a whole, apartments, shops and office buildings are quite different in terms of investment cost, return period and risk scale. There are also many cases about the success or failure of investment in different projects in the market. Facing the current market, how should investors choose the products that suit them?

Simply look at the return-investing in shops is the first choice

In recent days, Mr. Yang has been in a particularly sunny mood, not only because he just bought a BMW X5, but also because all the money he spent on buying a new car benefited from the appreciation of the commercial and residential apartment he invested a year ago. On the other hand, Mr. Han who has invested in shops is not so lucky. A few years ago, Mr. Han bought a shop of nearly 200 square meters with a loan of 40 thousand yuan/square meter. He thought that he could rent out the shops at a monthly rent of 50 thousand yuan to support the loan by renting houses. But he didn't expect that his pavement had been vacant for four years because there were many competitive shops around, and during this period, he also paid a loan of more than 2 million yuan. Mr. Han, who is not well-off economically, is anxious and miserable.

Compared with Mr. Han, Ms. Xu, who bought an office building, is a little luckier. Two years ago, influenced by the construction of the new town, Ms. Xu bought a set of 130 square meters of office space in the new town at a price of nearly 16000 yuan/square meter. At present, although the sales and rental prices of office buildings have increased, the business atmosphere in this area is still not very strong, so the rental price of office buildings is far below her previous expectations, so that Ms. Xu has to use the word "chicken ribs" to describe this property.

Three different investment options for three people also bring three different investment returns. The above cases are not enough to show that investing in commercial and residential apartments is better than investing in office buildings, or even better than investing in shops. On the contrary, purely from the perspective of return, shops should be the first choice for commercial investment.

Investing in shops-there must be funds to support "raising shops"

"The threshold for investing in shops is very high." Zhang said to him. This is mainly determined by two factors. First, the choice of shops requires a strong ability to identify and screen lots. As the saying goes, "one step is not as good as three cities." In many cases, overpasses or fences in front of commercial projects will have a great impact on the operation of the project.

Second, shops have high capital requirements. In general market, the price of shops is two to three times the average price of local residential market, but the payment ratio is usually 50% down payment, 10 year loan. Higher prices and stricter loan requirements mean that the threshold of shops is several times higher than that of ordinary houses. If the shops are held for a long time, the effect of long-term profit will be more obvious. With the continuous maturity of lots, shops will become more valuable. So generally speaking, people who invest in shops are well-off people.

Shops, commercial houses and office buildings are like classical music, pop songs and national music in music. Shops, like classical music, are rich in connotation and need to be precipitated. They may not be a blockbuster, but they often last forever, and there is no lack of essence. Business supply is relatively small. According to the commercial matching ratio of ordinary community 10%, that is, 10 houses are matched with one business, and there are few businesses in good lots. Business not only has market demand, but also the daily consumption demand of the public, so business is supported by daily consumption demand when the economy is not good. Under normal circumstances, the annual rate of return of community businesses can generally reach 5%-6%, while the bottom shops of office buildings can reach 8%-9%.

The threshold for investing in commercial housing is low.

Commercial housing is a popular song. Commercial housing can be accepted and invested by the public because of its small area and low total price. Under the current domestic market conditions, due to the limited service level of property management companies, it is difficult to maintain the property quality in many communities, which leads to the mixed residence and office staff and the decline of the quality of communities.

In this case, if the land value in this area does not increase, the housing value of this community will not increase significantly, but will only increase with the monetary value and the average regional economic growth rate. Therefore, in the context of the current national economic regulation, the hematopoietic function of commercial housing is limited to leasing. The ratio of monthly rent per square meter of usable area to house price per square meter of building area in the world, that is, the equilibrium level of rent-sale ratio is about 1:300, but the current rent-sale ratio in China has reached 1:800 or even 900, and the house price has seriously deviated from its true value. In addition, the supply of the whole market is more, so the hematopoietic capacity of the house is relatively low, and its annual rate of return is generally 3%-4%.

The return on investment in office buildings is in the middle.

Office buildings are the national music of the property market. Similar to shops, the more mature the surrounding area, the more stable the rent. However, the requirements of office buildings for the surrounding atmosphere are different from those of shops. The development of office area not only needs a good living environment and a base for people flow, but also needs the commercial atmosphere and transportation facilities of the whole area.

At present, because the state has controlled the overall supply of office buildings, the market demand for office buildings is relatively strong, and the overall market price has risen steadily.

Experts point out the investment direction of commercial real estate.

The investment return period of shops is long, especially those around new residential areas. Because the location is immature and the popularity is not strong enough, the market cultivation period is longer. In addition, the investment location of shops is the key. Usually, most shops are suitable for choosing blocks with large traffic, especially mature business districts with frequent commercial activities and dense commercial facilities. Hot areas are conducive to the daily operation of the store. But for some emerging areas, because they are still in the development stage, there are variables in the future business formation, so don't rush to new business districts. Traffic, supporting facilities and planning around the project are all important indicators for inspection.

Buyers should inspect the appreciation of regional land.

Commercial and residential apartments have changed the original properties of commercial land and developed into residential houses from the use function. However, due to the high-density planning requirements of commercial land, the plot ratio is often high, which leads to excessive population density and decreased comfort. Coupled with the high cost of daily water and electricity, most buyers are just-needed customers who are not qualified to buy houses, so the price is lower than that of office buildings and shops. When buying commercial and residential apartments, on the one hand, we should investigate the land appreciation in this area, on the other hand, we should also focus on the competitiveness and property management level of the project in the surrounding areas to ensure the stable rise of rental prices.

Office investment should consider the rental rate of regional office buildings.

When choosing an office building, investors should fully consider the rental rate of office products in the region, the convenience of transportation, whether there is similar competition around, whether there are a large number of similar overstocked products, and the commercial atmosphere and maturity of the whole region. At present, the vacancy rate of office buildings in urban areas is low, while some suburban projects have excess risks. In the second-hand housing sales, office sales with lease will have great advantages, and it will be relatively difficult to sell vacant products.

The purchase cost of commercial projects is higher than that of ordinary houses.

Because commercial and residential apartments, shops and office buildings are all built on commercial service land, the tax expenditure generated by purchase will be higher than that of ordinary houses.

Traffic and regional development are prerequisites for buying commercial housing.

Under the influence of the purchase restriction policy, it has become history to invest in buying a house and get high returns in a short time. For investors, it does not mean the end of real estate investment. Since Beijing implemented the purchase restriction policy for ordinary houses, commercial houses that can be used for office or residence are not affected by the purchase restriction policy and become the target of investment buyers.

Commercial housing is more suitable for long-term investment.

As to whether the future investment of commercial buildings can get high returns in a short time, today's commercial buildings have gone through the era of rapid value-added in a short time. At present, the return in a short period of time is not as high as investors expected. Commercial buildings have gone through a period of high return, and the whole value-added space tends to be stable and rises steadily with the economic development. This situation is more suitable for buyers who invest for a long time. For investors who pursue short-term investment returns, short-term investment in commercial housing is not a good choice, because the value-added rate of commercial housing in the short term is very low.

(The above answers were posted on 2015-10-10. Please refer to the actual situation for the current purchase policy. )

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