In 2024, the property market may usher in three good news. Regulatory policies are expected to be further strengthened, thereby reducing the cost of home ownership. With the continuous increase in housing prices, we are gradually aware of the risk of a bubble in the property market, so we are increasing the regulation and control of the property market. This means that future buyers will be able to buy their desired home at a more reasonable price.
For buyers who just need to buy a home, they will have more opportunities to pick up the leaks. As the property market adjustment continued, the total sales of real estate companies fell by 147%, which has forced developers to cut prices** to attract homebuyers. Therefore, in 2024, buyers who just need to buy a home will have more choices and more preferential prices** to meet their own home purchase needs.
The third piece of good news is the large number of affordable housing entering the market. In the past few years, our country has been committed to solving the housing needs of low-income people. In 2024, it is expected that more affordable housing projects will be put on the market to meet the housing needs of low-income people. In order to increase the supply of affordable housing, state-owned enterprises or large companies are also encouraged to purchase unsalable commercial housing and transform it into affordable housing. This initiative will not only solve the inventory problem in the real estate market, but also meet the housing needs of low-income people.
With the arrival of these good news, it is expected that the property market will have a dual-track system in the future. Low-income people can choose to buy affordable housing, while high-income people can choose market-oriented commercial housing. The emergence of this dual-track system will better meet the needs of buyers at different levels.
Overall, from 2024 onwards, buyers will have more options and will be able to buy their desired home at a more reasonable price**. The increase in control policies will reduce the cost of buying a house, and buyers who just need to buy a house will have the opportunity to pick up the leaks, and the entry of a large number of affordable housing into the market will meet the housing needs of low-income people. With these good news, the property market in 2024 is expected to be more favorable for home buyers. For home buyers, it is still necessary to make prudent decisions, rationally judge market trends, and choose the right time to buy a house for themselves.
The property market from 2024 onwards may usher in three good news, which will have a positive impact on both home buyers and low-income people.
Regulatory policies may be further strengthened to reduce the cost of home ownership. Due to the ongoing impact of the property market correction in 2023, more stringent measures may be taken to curb house prices. These measures may include increased restrictions on home purchases and increased penalties for non-compliant property developers. This will reduce the demand for investment homes and bring home prices back to a reasonable level, providing better home buying opportunities for home buyers.
Buyers who just need to buy a home will have more opportunities to pick up the leaks. Due to the impact of the property market correction, some property developers may face sales pressure, and they may lower their home prices to attract home buyers. This will enable buyers who just need to buy a home at a lower price and realize their dream of buying a home. This is undoubtedly a rare opportunity for those buyers who have been following the trend of the property market but have not been able to enter the market.
The third piece of good news is that affordable housing will enter the market in large numbers to meet the housing needs of low-income people. As the low-rent housing or affordable housing provided by the first class, affordable housing is established to solve the housing difficulties of low-income people. As the property market adjustment continues in 2023, ** will increase the construction of affordable housing to enable more affordable housing to enter the market. This will provide low-income people with more suitable and relatively low housing options, easing their housing pressure.
In addition, in order to provide more affordable housing, state-owned enterprises or large companies may be encouraged to acquire unsalable commercial housing for use as affordable housing. This will help developers get rid of inventory pressures, while also providing more housing options for low-income people. This win-win mechanism will help optimize the structure of the property market, ensure the rational use of resources, and allow more people to benefit from the adjustment of the property market.
Overall, the property market in 2024 may usher in a series of good news. The increase in regulatory policies will reduce the cost of buying a house, buyers who just need to buy a house will have the opportunity to pick up the leaks, and a large number of affordable housing will solve the housing needs of low-income people. Encouraging state-owned enterprises or large companies to acquire unsalable commercial housing for use as affordable housing will introduce a dual-track system for the property market, providing different home purchase options for low-income and high-income people. The outlook for the future development of the property market is more optimistic, and buyers will have more choices, and it may be more advantageous to buy a house from 2024 onwards.