Kunpeng Project
With the arrival of the new year, the dynamics of the real estate market have attracted the attention of many people, especially for those who urgently need to buy a house or seek to improve their quality of life, choosing when to buy a house has become an important issue. Recently, Xu Gao, chief economist of Bank of China International**, mentioned in an interview that although there is still some downward pressure on housing prices, housing prices in large cities are expected to have more room to rise in the next one to two years.
From an economic point of view, the trend of house prices is influenced by supply and demand. Xu Gao mentioned that since the introduction of the real estate financing tightening policy in 2021, the area of new housing starts in China has dropped by more than 2 3. This shows that from the side, the future real estate market will become more limited. As the market stabilizes and demand gradually recovers, the lack of ** will drive home prices higher, especially in Tier 1 and Tier 2 cities.
Taking Beijing as an example, according to the National Bureau of Statistics, the commercial residential sales ** index in Beijing in 2023 will show a trend of first declining and then rising. At the beginning of the year, under the influence of policy regulation, housing prices were lowered, but with the gradual recovery of the economy and the enhancement of residents' purchasing power, housing prices began to gradually rise. This trend verifies Xu Gao's point of view to a certain extent.
For ordinary people, if you are considering buying a house in a first- or second-tier city, now may be a more appropriate time. There are a few things to consider before deciding to make a move:
Personal finances, to ensure that you have enough funds for a down payment and future mortgage payments.
The purpose of buying a house, clarify whether you are buying a house for needs or investment, which will affect your choice and budget.
Market research, pay close attention to the dynamics of the real estate market, including policy changes, housing price trends, etc.
Consider the location consideration, consider factors such as convenient transportation, school districts, and living facilities, and choose a location that suits you.
In addition to market supply and demand and personal finances, there are several other perspectives to consider that can also influence whether you should buy a property this year.
First, from a macroeconomic point of view, China** has been trying to stabilize the real estate market and avoid overheating or overcooling. In the context of the current economic recovery, more favorable policies may be introduced to stimulate the development of the real estate market. For example, there may be more loan incentives, tax breaks, etc., which will have an impact on house prices.
Secondly, from the perspective of social development, with the acceleration of urbanization, more and more people are pouring into first- and second-tier cities, which not only increases the demand for housing, but also promotes the construction and improvement of urban infrastructure. A good urban environment, convenient transportation, and abundant educational resources are all important factors that attract people to buy houses.
Furthermore, from an investment perspective, real estate is still one of the most important asset allocation methods for many Chinese families. Despite the volatility of the market, real estate investment still has good potential to maintain and increase its value in the long run. Especially in first- and second-tier cities, due to the scarcity of land resources, real estate can often maintain a steady appreciation trend.
Finally, from the perspective of personal development, buying a home is not only about meeting the needs of housing, but for many young people, it is also a way to achieve personal value and social status. Owning a house of your own not only provides a stable living environment, but is also a reward for your hard work.
In short, although housing prices are still facing some downward pressure, considering the tightening of supply and the recovery of demand, there is a high probability that housing prices in first- and second-tier cities will be **. So, if you have a need to buy a home, 2024 may be the right time to make a move. Of course, it is important to do your best and do your research before making a decision.