文、编辑|朝暮古今 你有没有发现，打开阿里和京东的资产交易平台，画风变得越来越魔幻？以往那些卖衣服、卖家电的双11专场、清仓大处理栏目 里，赫然出现了一群新玩家：银行！ 没错，就是我们最熟悉、也最信赖的金融机构，它们正以前所未有的姿态，亲自下场当起了"房产中介"！这到底是怎么回事？ 在大家的印象里，银行只会埋头办理存贷款业务，实际上银行早已有了跨行的业务，其中一个就是卖房。 从农业银行、建设银行这样的国有巨头，到遍布各地的城商行、农商行，几乎都不约而同地干起了卖房子的副业。 这看起来很魔幻，实际上是银行不得不采取的行动。 但是，这些资产在传统法拍市场上却始终没人买。 比如兰州农商行那批打对折的学区房，要知道这些房子旁边就是重点中小学，但银行还是毅然决然地选择了腰斩出售。 但依旧没人买。 面对大量无人问津的法拍房，银行不得不撸起袖子亲自下场，开辟直售渠道加快资产变现。 为了能把房子卖出去，银行直售的房子确实有不少优势。 主要的原因是因为，这些年经济转型，不少企业和个人遭遇经营困境，这就导致他们在银行贷了款，还不上。 这个时候，那些抵押给银行的房产就只能通过司法程序收回，成为银行账面上的"抵债资产"。 但这些房子 ...

开篇直接略过本次银行亲自下场卖房的突发诱因，至少侧面证明了之前传言的断供率其影响之大。从售楼处买新房、中介门店买二手房、法拍现场买处置房 源，再到如今接盘银行直接抛售的二手房，如今买房的供货源头总共有了4种，对购房者而言可以房比三家，按性价比与安全性来择优选择。首先，银行直 售房产，在上述四个渠道中是最有价格优势的，价格优势源于成本优势，按如今首付最低15%计，银行以"最多85折发放贷款控制100%房源"，所以85折卖 是不亏的，但85折是房地产的少见高折扣。这其中还不包括前几年房产上涨期的溢价icon导致定价高企，也不包括原业主还款一段时间的成本摊低，可以想 见银行挟成本优势为了回笼完全可能出现砸盘价。其次，银行若超低价砸盘，直接威胁的是法拍与二手房的成交量，当然也是"因价倒逼量"所致：相比银行 低价，法拍可能价格上可以PK但其背后的不确定性太多，法院"只管拍卖不管交割"的服务短板暴露出来；而二手房虽有交易中心保障安全，但1000个房东 有1000个心理价位，银行直售等于直接给房东统一定了对标参考价，对二手房市场影响更大；新房也"没有一片雪花是无辜的"，二手房市场定价太过拉跨， 新房人造涨价的趋势也不可持续 ...

Core Insights - The banking sector in China is experiencing an unprecedented wave of direct property sales, with institutions like Lanzhou Bank and Agricultural Bank selling properties at prices up to 25% below market value, reflecting a unique financial market ecology and providing rare opportunities for buyers [1][4] Group 1: Scale of Direct Property Sales - Lanzhou Rural Commercial Bank has listed nearly 200 properties in late October, with a total of 720 properties on the JD platform, including 630 newly added this year [3] - Other banks are also participating significantly, with Jilin Bank listing 2,099 properties, Tianjin Bank 1,227, and Zhongyuan Bank 521 [3] - The scale of asset disposal in the rural credit system is even more remarkable, with Guangdong Rural Credit listing 12,386 properties and Sichuan Rural Credit reaching 24,821 [3] Group 2: Source of Properties - Most properties are acquired by banks through "debt-for-assets" arrangements, such as Lanzhou Rural Commercial Bank obtaining over 250 residential units from a developer unable to repay a loan totaling 460 million yuan [3] - Similar cases are reported nationwide, with banks acquiring properties and land in various regions due to borrowers' defaults [3] Group 3: Price Advantages and Market Conditions - Bank direct sales offer significant price advantages, with properties in Lanzhou selling for 151 million yuan, 30-70 million yuan below market prices [4] - Despite attractive pricing, actual transaction rates are low, with some properties experiencing multiple failed sales [4] - The urgency for banks to recover funds quickly and the prolonged traditional asset disposal cycle are driving this trend, as personal loan default rates rise significantly [4] Group 4: Implications for Buyers and Market Dynamics - Buyers should approach bank direct sales with caution, as while properties have clear titles and avoid common issues associated with auctioned properties, some may have location or amenity drawbacks [5] - The ongoing direct sales trend will be influenced by macroeconomic conditions, real estate market regulations, and banks' strategies for handling non-performing assets [5] - This wave of asset disposal represents a significant risk clearing for banks and poses a challenge to their asset management capabilities, while also potentially exerting downward pressure on local property prices [5]

Core Viewpoint - The banking system is increasingly engaging in "direct property sales," offering properties at prices significantly lower than market rates, which is attracting attention and may impact the second-hand housing market [1][10]. Group 1: Direct Property Sales by Banks - Major banks, including Agricultural Bank, Construction Bank, and others, are actively selling properties online, with a noticeable increase in the speed of asset disposal [3][4]. - As of 2024, the number of properties listed for direct sale by banks has exceeded 70,000, with significant contributions from various regional banks [9][10]. - The properties being sold are primarily non-performing assets, with banks aiming to enhance debt recovery rates through direct sales [10][11]. Group 2: Pricing and Market Impact - "Bank direct supply properties" are often priced 50% lower than market rates, making them attractive to buyers, although some properties still fail to sell despite significant price reductions [14][15]. - The introduction of bank direct sales may exert downward pressure on second-hand housing prices in specific regions, potentially delaying the recovery of the real estate market [18]. - The pricing strategy of banks involves lowering prices after failed sales attempts, which can lead to a competitive pricing environment within communities [14][18]. Group 3: Market Dynamics and Trends - The current trend of banks selling properties directly is partly driven by a cooling legal auction market, prompting banks to seek alternative methods for asset liquidation [12][13]. - The rise in non-performing loans among major banks has led to an increase in the sale of properties as a means to manage financial stability [11][12]. - The overall impact of bank direct sales on the real estate market is expected to be limited in scope, affecting only certain areas rather than the national market as a whole [18].