Recently, the Ministry of Finance released the fiscal revenue and expenditure in 2023, among them, there is a key information about real estate, the income from the transfer of state-owned land use rights in 2023 will be 5,799.6 billion yuan, a year-on-year decrease of 132%。
In 2022, the income from the transfer of state-owned land use rights will be 6,685.4 billion yuan, and in 2021, the income from the transfer of state-owned land use rights will be 8,705.1 billion yuan.
In just three years from 2021-2023, land revenue decreased by 334%, it can be seen that the land can no longer be sold, and the real estate company has begun to shrink strategically, no longer as crazy as before to buy land to expand, indicating that the future of the real estate industry will no longer be prosperous, and housing prices will also be affected, gradually return to residential attributes, fade financial attributes.
And more real estate practitioners will also be due to the contraction of the real estate industry, their income will be greatly reduced, and they will even be laid off and unemployed. Therefore, the majority of real estate practitioners should plan early to avoid being caught off guard when they are optimized.
In 2023, many people's incomes are also decreasing, and a decrease in income will inevitably lead to a decrease in spending, and when everyone has no money, it will further affect the continued decline in housing prices.
Therefore, according to the data, the real estate industry will continue to be in the downturn of the previous two years in 2024.