In the downward cycle of the property market, no city in the country can be spared, including first-tier cities such as Beijing, Shanghai, Guangzhou and Shenzhen, and housing prices and transaction volume have lost their original halo. New houses are already like this, and the second-hand housing market is even more miserable, and many owners complain that they can't hold on. Some large communities even have a large-scale situation, and the number of listings remains highWhen the house price is high, everyone is reluctant to ** their own property, hoping to make more money. Now the property market is declining, and housing prices continue to **. Watching their house depreciate every day, the psychological structure of the landlord has collapsed.
Even more disappointing than the fact that house prices are getting lower and lower is that even with the price drop, there is still no one looking at the property. Many landlords said that their houses have been listed for more than two years, and only two or three batches of customers have come to see them during this period. And after looking at the house, there is no follow-up at all. So, many people will ask when will the housing market downturn end?For example, when a person has been being resuscitated by a doctor, it is definitely not when he is healthy, but when he is in danger. The same goes for real estate. When all kinds of bailouts occur frequently, it must be the time when the property market is in a downturn. Therefore, when the market really recovers, it must be when all the current favorable policies for bailing out the market in the country disappear, such as the mortgage interest rate begins to rise. But in today's property market, mortgage rates are still bottoming out. All kinds of good news continue to come out, including the good news that suddenly came from Beijing and Shanghai some time ago, which caught people off guard.
With the fluctuation of the land market, the trend of the property market has attracted much attention. Especially in the context of the continued downturn in the property market, the land market has shown a downturn this year, which is worth paying attention to. From January to November 2023, the total land acquisition of TOP100 enterprises will be 1085.5 billion yuan, the scale of land acquisition decreased by 6 percent year-on-year6%。The decline was 3 percent narrower than the previous month4%, narrowing for two consecutive months. The threshold for the TOP100 is 3.2 billion yuan, a decrease of 700 million yuan from the same period last year. The total land rights obtained by the top 100 enterprises through bidding, auction and listing account for 52 of the land transfer fees in 300 cities across the country3%。
Under the current situation, it is particularly important for investors to carefully judge the trend of the property market in 2024. If you need to buy a home, here are five tips for buying a house:
1. Be cautious about borrowing and reasonably assess your ability to repay
In the current environment of layoffs and salary cuts, it is essential to have a clear estimate of your financial situation. Avoid over-leveraged loans and ensure your ability to repay. Plan your repayment plan ahead of time to avoid a significant impact on your repayments when your income drops.
2. Choose the community carefully and avoid the old community:
Although the old community has a good geographical location, complete surrounding facilities and convenient transportation, the internal facilities are dilapidated and difficult to renovate. When buying a house, you should carefully consider the overall quality of the community, especially avoid buying an old community with a large area, because it is difficult to fundamentally improve the dilapidated condition.
3. Give preference to the rough house, and be wary of the high premium of the finely decorated house
Due to the downturn in the property market, developers may **premium** finely furnished homes to recoup costs. Therefore, buyers should give preference to rough houses to avoid high renovation costs.
4. Carefully choose the developer and the timing of buying a house
Avoid buying properties from small developers, be cautious about buying off-plan properties, and give preference to existing and second-hand homes. The property market situation cannot be ignored, and there are risks inherent in buying off-plan properties, and buying off-plan properties from small developers is even more risky.
5. Priority is given to high-quality real estate in big cities.
In the future, only high-quality communities with good property services will be favored. For properties in third- and fourth-tier cities, it is recommended to be timely**, especially to meet the needs of self-occupation. In the future, real estate in large cities with attractive populations and abundant supporting resources is expected to become a stable asset.
In an environment where the property market is gradually cooling, the above five suggestions may help home buyers make an informed decision. When choosing a property, buyers also need to avoid some unfavorable factors, such as proximity to garbage stations, high-speed rail, elevated areas, etc., and try to avoid the inconvenience and sales problems caused by this.