The original article mentioned that in 2024, three major projects will be piloted in super mega cities, which means that super mega cities will become the focus of real estate **. These three major projects include the construction of affordable housing, the construction of public infrastructure for both ordinary and emergency purposes, and the transformation of urban villages. In 2024, these cities will continue to be built on a large scale, as they will receive special funding. Therefore, when we look at the real estate ** and trends in these cities, we need to pay special attention to the differentiation between them.
With the development of the real estate market, second-hand housing will gradually surpass new housing and become the mainstream market. This is an inevitable trend because when real estate construction reaches a certain level, the demand for new homes will decline. In developed countries such as the United States and Europe, the second-hand housing market already accounts for more than 80% of the total transactions. Therefore, in 2024, we can expect that the number of second-hand home transactions will continue to increase, possibly surpassing that of new homes. The data is already starting to show this trend, with second-hand home transactions in Beijing and Shenzhen, for example, far outpacing new home transactions. This trend will lead us to focus more on quality real estate companies and less on the need for too many new home developers.
In 2024, in addition to rigid demand and improved housing, first- and second-tier cities will further relax restrictive policies to support family investment in real estate. This means that the transaction volume of household investment real estate will become an important indicator of the heat and investability of the property market in first- and second-tier cities. Family investment property refers to the fact that a family can hold an investment property, which is considered a normal investment behavior, rather than property speculation. In addition, these properties will not be counted towards future property taxes. Real estate around the globe has been an important investment asset for many years. In addition to investment methods such as ** and financial management, real estate is still an important investment direction for many families. Therefore, we should support the reasonable investment needs of the people. At present, many cities have begun to support families to buy a second home, and even some places have a third home policy. In 2024, it is expected to further liberalize, and even focus on supporting the development of this aspect. Combined with the above-mentioned megacities and second-hand housing trends, it is foreseeable that second-hand housing in the core areas of first-tier cities will become a hot spot for transactions.
The real estate market in 2024 will show three new trends. First of all, megacities will be the focus of attention, and these cities will continue to be built on a large scale thanks to the trial implementation of the three major projects. Secondly, second-hand housing will gradually overtake new housing and become the mainstream market. This is a trend because real estate construction has met a certain level of demand, and people's demand for home buying will also shift to second-hand housing. Finally, restrictive policies will be further relaxed, especially in first- and second-tier cities, to support families to invest in property. This will become an important indicator to measure the heat and investability of the property market in first- and second-tier cities. To sum up, the real estate market in 2024 will show a trend of stable development, and we should pay close attention to the trend of the super-large city**, the second-hand housing market and the relaxation of restrictive policies. Only by understanding and grasping these specific situations can we better grasp the opportunities and risks of the real estate market and achieve reasonable investment and returns.