2024 is coming, and for those who haven't bought a house yet, they need to be prepared to meet the adjusted property market trend. First of all, we need to be prepared to pick up the leaks. According to the news revealed, some large developers such as Poly and Vanke have reduced prices in order to return funds. Taking a real estate in Chengdu Poly as an example, the original price per square meter was 15-1.70,000 yuan, and now it has dropped to 9,000 yuan, and the house price has dropped by as much as 40%. As developers' capital needs increase, more and more developers will join the ranks of price reductions. At the same time, many second-hand home owners are also selling in large quantities**, and in the face of weak market demand, it is difficult to close the deal if the landlord does not reduce the price and sell. For example, in Shanghai, there is a second-hand house of 7.2 million yuan in the city center that was finally sold for 5.6 million yuan, and the buyer successfully bargained for 1.6 million yuan. Therefore, starting from 2024, for families who just need it, whether they want to buy a new house or a second-hand house, the opportunity to pick up the leaks has indeed come.
Expanding: In this upcoming property market adjustment, families who just need it can see that first-tier developers have launched measures to reduce prices significantly. This initiative aims to recoup funds and solve the liquidity problem for developers. With the adjustment of the market, the pressure on developers has gradually increased, and they have to stimulate market demand by cutting prices. This is undoubtedly good news for consumers. By picking up the gaps, they can enjoy more affordability** and enjoy more options for buying a home. In addition to developers' price cuts**, the second-hand housing market has also started to see a lot of sell-offs. In the face of a market downturn, many landlords are choosing to cut prices**, which is a rare opportunity for families who just need it. However, families with rigid needs still need to be cautious when picking up leaks, in addition to paying attention to the quality and location of the house, they also need to pay attention to market trends and avoid blindly pursuing low prices while ignoring other factors.
The second preparation is to welcome more bailout policies. Since the beginning of 2023, a series of favorable policies have been introduced in various parts of China to rescue the market. Measures such as the lifting of purchase restrictions and loan restrictions, the reduction of mortgage interest rates, and the increase of provident fund loan limits have been implemented. For example, many cities have lowered mortgage interest rates to 36%, and the down payment ratio has also been reduced from 3 to 2 percent. Moreover, first-tier cities such as Beijing, Shanghai, and Shenzhen have also introduced a policy of "recognising houses but not loans", which has further reduced the cost of buying houses for buyers. Throughout 2023, more than 500 regulatory policies have been introduced. After entering 2024, as the property market continues to slump, it is expected that more favorable policies will be introduced to further reduce the cost of buying a house for home buyers.
Expansion: **The bailout policy played an important role in the downturn of the property market. Starting from 2023, various localities have successively relaxed the purchase restriction and loan restriction policies, creating more opportunities for home buyers to buy houses. At the same time, banks have also responded positively and have lowered mortgage interest rates. Mortgage interest rates have been reduced to as low as 36%, which undoubtedly reduces the repayment pressure of home buyers. Not only that, but some cities have also increased the amount of CPF loans to make it easier for more home buyers to get low-interest loans. In recent years, first-tier cities such as Beijing, Shanghai, and Shenzhen have once again introduced new housing purchase policies, such as "recognising a house without a loan", to make it easier for home buyers to buy a house. In 2024, as the property market continues to be sluggish, it is expected that further favorable policies will be introduced to rescue the market, providing more opportunities for home buyers and reducing the cost of buying a house. This is undoubtedly good news for those who are planning to buy a home.
The third preparation is that low-income families should be prepared to buy affordable housing. In the face of high housing prices, many low-income groups find it difficult to afford the pressure of buying a home. However, China has recently launched a "new round" of housing reform, planning to build 6 million affordable housing units in the next five years to meet the housing needs of low-income groups. The first level of affordable housing will be much lower than the market price, mainly composed of allocated land costs, construction costs and reasonable profits, and the pricing method is more close to the people. Therefore, starting in 2024, low-income groups will usher in the great benefit of buying affordable housing. It is recommended that low-income groups no longer have to worry about buying a house now, and can wait for the opportunity to buy affordable housing.
Expanding: Under the pressure of current high housing prices, low-income families face huge challenges in buying homes. However, a "new round" of housing reform has recently been launched to address the housing problem of low-income groups. According to the plan, 6 million affordable housing units will be built in the next five years to meet the housing needs of low-income groups. Affordable housing** will be significantly lower than the market price, providing low-income families with the opportunity to buy a home. The pricing of affordable housing is mainly composed of three aspects: the allocated land cost, the construction cost and the reasonable profit, and the pricing method is more close to the people. Compared with the market price of housing, the purchase of affordable housing will greatly reduce the burden of low-income groups to buy a house. Therefore, for low-income groups, the time has come to wait for the purchase of affordable housing. It is recommended that low-income families do not grit their teeth to buy a house, but can choose to wait patiently and be ready to buy affordable housing in the future.
To sum up, 2024 is coming, and for those who have not yet bought a house, they need to be prepared for the property market correction. The opportunity to pick up the leak is coming, whether it is a new house or a second-hand house, there is an opportunity to buy at a more affordable **. In addition, as the property market continues to be sluggish, more bailout policies will be introduced, and the cost of buying a home is expected to be further reduced. In addition, for low-income families, buying affordable housing will become a better choice, providing low-cost home buying opportunities through the housing reform program. Therefore, for the upcoming 2024, I hope that everyone can prepare accordingly, seize the opportunity, and realize the dream of buying a house.