After entering 2024, the domestic property market continues the adjustment trend in 2023. According to the data of CRIC Real Estate Research Institute, in January this year, the sales amount of TOP100 real estate companies only reached 2350600 million yuan, down 342%, down 479%。This monthly performance hit a new low in recent years.
At the same time, authoritative data shows that in January 2024, the second-hand housing prices in 100 cities will be month-on-month, except for Sanya, and the second-hand housing prices in other 99 cities will be month-on-month, and more than 90 cities have been affected for 8 consecutive months. In the eyes of industry insiders, the long-term adjustment trend of the property market has become clear!
In fact, the long-term correction in the real estate market will not have a big impact on those who only own one home. But for those families with multiple properties, the situation is a bit unfavorable. According to the data of the central bank in 2019, the homeownership rate of urban residents in China is as high as 960%。Among them, the proportion of households owning a house is 584% and 31 for those with two sets0%, compared to 10% for households with three or more homes5%。
This shows that people in our country who own 2 or more houses account for 41 of the total5%。Over time, the number of households with multiple properties is likely to be close to half. So, what are the annoying problems that these families will face?
First of all, the market value of real estate will continue to depreciate.
In the past few years, domestic housing prices have been soaring, which has brought obvious investment effects. Many families buy houses for the purpose of investing and managing their assets to ensure the preservation and appreciation of their assets. As a result, domestic real estate accounts for 77% of residents' total assets, while financial assets account for only 23%. It can be seen that families with multiple properties are pinning their hopes on real estate. However, if there is a long-term correction in house prices in the future, families with multiple properties will face the dilemma of shrinking property market value.
Second, spending power will continue to decline. If house prices continue to grow as fast as in previous years**, the wealth of households with more than two properties will increase rapidly. In the case of wealth appreciation, the consumption demand of these households will increase significantly. However, if house prices continue to rise, the wealth of families investing in real estate will continue to shrink, and even huge losses will occur. This will severely erode the spending power of households with more than two properties.
Thirdly, it will be increasingly difficult to get a house**. In the future, families with more than two properties will face the dilemma of monetizing their homes. Especially for properties in third- and fourth-tier cities, it will become increasingly difficult to monetize homes due to the limited employment opportunities provided in these cities, and the outflow of people is greater than the inflow, resulting in an oversupply of the real estate market.
And if you have a house in a first- or second-tier city, it will be difficult to sell it at the market price alone. Nowadays, even for houses in big cities, landlords have to discount more than 30% of the market price to have a chance of successfully selling the house. Taking Shanghai as an example, a house with a market value of 10 million yuan must be reduced to at least 7 million yuan before anyone is willing to sell.
The pressure to hold multiple homes is increasing. Many families bought a property at a high level in previous years, and now they are feeling the pressure to hold a home. This is mainly due to the impact of the epidemic in recent years, many families have lost their incomes or lost their jobs, and those who own two or more properties are much more stressed to repay their mortgages every month than those who only have one property. Today, many families with multiple homes can no longer bear the pressure.