When I think back to the first home I bought on impulse, I can't help but blame myself. One wrong property purchase will make you fall too far behind others. It takes years for lost money to be recovered, and even if you do, your home is not as popular as others, and it may even become a burden.
2024 is considered the year of hope, and many people are counting on the property market and the overall economy to improve after the adjustment in 2023, especially the implementation of the "three not less than" policy, which shows that the state is unequivocal about real estate:
1.The growth rate of real estate loans of each bank is "not lower than" the average growth rate of real estate loans in the banking industry.
2.The growth rate of corporate loans to non-state-owned real estate enterprises is "not lower than" the growth rate of local real estate.
3.The growth rate of personal mortgage loans to non-state-owned real estate enterprises shall not be lower than the growth rate of mortgage loans of the Bank.
These measures are aimed at ensuring that banks provide financing to developers to ensure their survival. In addition, the "three arrows" of finance are to fully support the bond financing of private real estate enterprises.
The data for 2023 is basically finalized, with the national land sales revenue falling by about 50% year-on-year, the number of new construction starts falling by about 60%, and the financing amount of real estate enterprises falling by about 70%. In addition, in those years, about 70% of people left the real estate industry and turned to new energy vehicles, insurance and other industries, and some even started their own businesses, ran small businesses, or even became online car-hailing drivers and food delivery riders.
It must be admitted that the situation in the real estate industry in recent years has indeed been very serious!
Recently, China's property market has continued to be affected, and housing prices have shown a trend, which has attracted widespread attention in the market.
According to the data, from January to November 2023, the total sales of the top 100 real estate companies will be 57,3790 billion yuan, a year-on-year decrease of 147%, an increase of 1 from the previous month6 percentage points.
Among them, the top 100 real estate companies in November monthly sales fell by 29 year-on-year2%, down 06%。This trend has been interpreted as a result of the high wait-and-see sentiment of home buyers and the return of funds by developers through price cuts.
Against this backdrop, a number of cities have recently abolished the lower limit on the interest rate of individual housing loans, and banks and customers can determine the specific interest rate level of the first home loan issued in accordance with the principle of marketization. This policy provides more flexible loan terms for home buyers, especially the reduced mortgage interest rate, which has become very attractive to home buyers.
Despite the emergence of favorable policies for the property market, there are different views in the market on whether you should buy a house in 2023. Some believe that home buyers should be aware of three adverse news in advance that should not be overlooked.
First, the cost of owning a property is rising.
The landlord tax has been implemented in some provinces, coupled with the continuous property fees, etc., which has gradually increased the burden of holding a property. This can lead to some homebuyers facing financial hardship when the economy fluctuates, and may even be at risk of the property being auctioned.
Secondly, the new home purchased may have quality problems and the risk of delayed delivery.
Last year, a large number of private real estate enterprises defaulted on their bonds, and the capital chain was tight. In order to cope with the crisis, some developers may adopt methods such as reducing allocation, downgrading standards, or even delaying the delivery of houses, which brings a series of risks to home buyers.
Finally, the current property market is oversupplied, and housing prices have lost their support.
China's urbanization rate has gradually slowed down, the birth rate has declined, and some provinces have even experienced negative growth. This has led to a surplus of property market and housing prices to be restricted.
The marriage rate in 2023 has hit a new low, and data from the Ministry of Civil Affairs shows that in 2023, China's marriage registration data will be 81310,000 pairs, which is the second time it has fallen below the 9 million mark after falling below the 10 million pair mark in 2023, which is also a new low since 2003 and only 60% of the peak in 2013.
On the whole, although there are opportunities to buy houses in the current property market, especially for rigid demand, because housing prices are relatively stable and falling, developers give relatively more preferential treatments.
However, for off-plan properties, buyers still need to be cautious and prefer to choose existing and second-hand homes. Buying a home in 2023 requires a careful balance of factors and a rational view of market trends and personal finances.