"Daily Economic News" said that recently, many places in China began to implement the "free house" policy, and the "Daily Economic News" learned through visits that most of these houses under the guise of giving away houses are high interest. The so-called free gift is actually that the original owners want others to repay the rest of the mortgage, but for various reasons, those houses cannot really be lived in or rented for a while, or the owners cannot afford the high monthly mortgage and are desperate to sell their property.
This means that many "free house" houses are cheaper than loans, and "free houses" also have certain legal risks, so when buyers decide to buy a house, they must not only have a comprehensive understanding of the property rights and quality of the house, but also find out whether there are high-interest loans, other liabilities and whether there are legal risks.
February** power plan Many cities have launched "free houses", which reflects many cold facts in the real estate market: First, it shows that many investors invest in properties when housing prices are high, resulting in bankruptcy of the house, and buyers are unable or do not want to continue to bear the high mortgage, so they will do everything possible to sell their houses in the shortest possible time, which means that in the future, the sales pressure of second-hand houses will be great.
At the same time, our country's property market is also continuing to cool, and housing prices are generally **. The imbalance between housing** and demand will worsen in the coming years, and it is likely that it will continue to adjust, and the outlook is not promising.
China's property market continues to cool, and housing prices are generally **.
In 2022, the residential market will see a decrease in the area sold, while the new construction, second-hand homes and residential markets** will continue to decline, while the decline in the real estate market will continue to widen.
In 2022, the sales area of commercial residential buildings in the country will be 11200 million square meters, a decrease of 85%, the decline widened by 0 from January to November5 percentage points.
On January 17, the National Bureau of Statistics released data on 70 large and medium-sized cities and rural residences**. According to the data, among the 70 large and medium-sized cities, the sales of new homes in 62 cities increased by 3 percentage points compared with the same period last year. And in 2023, only 13 cities will have new housing **compared to the previous month**. New home prices continue to be made every month from May 2023**.
In the coming month, second-hand home sales in 70 cities will all be on a month-to-month basis. Similar to new homes, the number of second-hand home transactions also increased significantly in the second quarter from May 2023.
In the future, the imbalance between supply and demand in China's property market may further deteriorate and may continue to adjust.
At the same time, whether from the perspective of market demand or supply, in the next few years, China's property market will also face a shortage of demand and oversupply, which will further increase the downward pressure on the property market, and in the short and medium term, the property market will have further adjustments.
In terms of market demand, at present, China's residential ownership rate ranks among the top in the world, far exceeding not only developed countries such as the United States, but also developing countries such as India. In addition, according to data from a number of organizations, China's per capita residential floor area has increased from 36 square meters in 2011 to 49 square meters in 2021, ranking among the highest in the world.
With the slowdown in urbanization and the reversal of the demographic structure, fewer and fewer people need to buy a home. In addition, the current domestic household debt ratio and debt ratio are very high, which also has a great impact on housing consumption.
In terms of housing, there is a large gap and a high proportion of housing vacancies. On September 23, 2023, He Keng, vice chairman of the Finance Committee of the 11th National People's Congress and former deputy director of the National Bureau of Statistics, said at the China Real Estate Development Seminar: "At present, there has been a large amount of inventory in China's property market, and various professionals have estimated that there are about 1.4 billion people living in them.
Wang Shi, founder and honorary chairman of Vanke, recently said that China's property market problems are just getting started, and there will be more explosions and arrears in the correction process, but we can also see some changes in policy. I think that as long as we do a good job and learn from Japan's lessons, we can recover in 3 to 5 years. However, don't expect that with the right measures, things will get better next year or the year after, that's unrealistic.