There are three things that need to be prepared by owners of two sets of properties, which has not yet attracted widespread attention
Raise risk awareness and prepare for the long-term** of house prices.
With the continuous increase in property market control policies, housing prices across the country have gradually begun to show a downward trend. According to the data, the average sales of commercial housing in the country fell by 16% year-on-year in September this year. In particular, in first-tier cities such as the central city of Shanghai, housing prices have dropped sharply from more than 100,000 square meters at the peak to 60,000-70,000 square meters at present. From next year, housing prices may continue to adjust in various places. For families with two or more properties, it is important to be prepared for the long term as further reductions in the market value of the property will be inevitable.
Recognize the difficulty of monetizing assets and be prepared for the possibility that assets may not be realized.
From next year, families with two properties should be prepared for difficulties in cashing in their homes. At present, the number of second-hand houses in the market has increased rapidly, and the number of second-hand housing listings in many cities is rising, such as Shanghai's second-hand housing listings increased by 82% in 5 months. This phenomenon shows that many homeowners take a wait-and-see attitude towards future housing prices, hoping to collect and cash out. However, the demand for housing is declining rapidly and it is not possible to absorb such a large number of second-hand homes**.
In order to solve the problem that real estate cannot be realized, it is first necessary to rationally analyze the liquidity problem of real estate. Real estate investment is highly risky and uncertain, and cannot simply rely on short-term liquidity channels. Secondly, it is necessary to strengthen personal financial security, avoid excessive borrowing, and rely on real estate income to survive. At the same time, it is necessary to focus on diversifying investments and diversifying funds to other areas to reduce the impact of real estate market fluctuations on personal finances.
Prepare ahead of time for growing housing pressures.
As the ongoing impact of the pandemic and slowing economic growth slows, many companies have laid off employees and cut salaries, and many people are facing reduced incomes or even job losses. For households with two sets of properties, the pressure on the supply of buildings will increase. At the same time, these families also have to bear the annual property fees, heating costs, maintenance, etc., and the economic burden is further increased.
To cope with the growing pressure to buy a home, families should plan their finances well in advance and save for the unexpected. Arrange your income and personal expenses wisely to ensure that you can make mortgage and other payments on time and avoid defaults or defaults. In addition, they should actively seek out other funding** and investment opportunities to increase their financial flexibility and resilience. You can also consider sharing or subletting vacant properties with others to share part of the property costs and reduce the burden.
Summary. From next year, owners of two properties should be prepared for three things: the long-term nature of the property, the inability to realise the value of the home, and the increased pressure to hold the home. In the face of the current situation of falling volume and price in the real estate market, families with multiple properties need to recognize the situation and actively respond to the risks. It is important to be more aware of risks and prepare for house prices** in advance to avoid the impact of falling market values. At the same time, it is also important to recognize the difficulty of monetizing the value of a property, be prepared for the possibility that it may not be realized, and seek a variety of ways to manage your money. In addition, it is important to prepare in advance to cope with the increasing pressure of buying a home, make reasonable financial planning, and find additional income** to reduce the financial burden. In short, only by making these three preparations can we stabilize our financial situation and maintain the safety of our assets during the adjustment period of the property market.