Recently, Zhao Yanjing, a well-known expert, made an exciting remark in a lecture, saying that the essence of commercial housing is speculation, which has caused widespread controversy and discussion. Many people began to be skeptical of this view, questioning whether it was contrary to the country's "housing for living, not speculation" policy. However, after rational analysis, we can find that Zhao Yanjing's point of view is justified to some extent.
We need to clarify the concept that commercial housing refers to the residential buildings built in the market for the purpose of earning economic benefits. Compared with owner-occupied housing, the operation mode of commercial housing is more focused on economic returns. Therefore, commercial housing has high investment attributes, which is also one of the fundamental reasons for speculation.
Changes in the relationship between supply and demand have further intensified the speculation of commercial housing. In the case of an imbalance between supply and demand, people tend to obtain investment income by buying commercial housing.
In some popular cities, the situation of short supply makes the demand for commercial housing continue, attracting a large number of speculators to pour into the market.
The scarcity of land resources has also promoted the speculation of commercial housing. Due to the limited land resources, the lack of ** has led to the continuous rise in housing prices. This has made buying a home a means of acquiring wealth, and investors have flocked to the property market, bringing more speculation.
*Demand is also a driving factor for commercial housing speculation. Urban development requires a large amount of capital investment, and funds are often raised through land transfer, renovation, etc. In order to obtain a higher land transfer fee, the dwelling will be commercialized at the time of land transfer in order to make more economic benefits. This also indirectly contributes to the speculation and speculation space of commercial housing.
The effect of financial leverage has also exacerbated the speculation of commercial housing. The low-cost loans provided by financial institutions and the relaxed housing loan policies have enabled many people to buy more commercial housing through leveraged investment.
Although the regulatory measures of the real estate market have gradually improved, and the influence of property speculation has weakened, we cannot deny that the essence of commercial housing is indeed the object of economic investment. However, opinions on Ms. Zhao's expert remarks vary. Some people agree with Zhao Yanjing's view that the current real estate market does have a problem of over-speculation, which has a negative impact on society. Others, on the other hand, have a different view, arguing that commercial housing is not a bad thing, it can provide important support for the development of the city, and it also provides opportunities for investors.
Regardless of people's stance on this view, the focus of the debate has shifted from the essence of the real estate market to the question of how to rationally regulate and guide the market. This also poses a greater challenge for the relevant departments and the first department, how to balance the investment attributes of commercial housing and housing demand, ensure the stability and fairness of the market, and at the same time do not hinder the healthy development of the city, these are the current problems that need to be solved urgently.
Some people agree with Zhao Yanjing's view that commercial housing is essentially an investment product. In the current market context, people often buy commercial housing not only because they need housing, but also for investment considerations. The rapid appreciation of the real estate market and the high return on investment have made many people invest their money in the real estate sector in order to obtain higher returns.
Changes in the relationship between supply and demand have made commercial housing the object of investment speculation. With the acceleration of urbanization, the mobility of the population increases, and the demand for housing is growing. However, the restrictions on the first end have led to the scarcity of commercial housing, which has made housing prices the norm. In this imbalance between supply and demand, buyers often hope to obtain a good return on investment by buying commercial housing.
Secondly, the scarcity of land resources has also driven the speculation in the real estate market. Land is the foundation of housing construction, yet land is subject to constraints, resulting in land being sustainable.
In order to obtain more land, developers often need to obtain it through auction and demolition. This has further pushed up the cost of commercial housing and also increased the cost of buying a home for investment buyers.
*Demand is also one of the important factors contributing to the speculation in the real estate market. Real estate taxation is linked to local fiscal revenue, and local governments generally use land as an important means to fill the fiscal gap. This has also led to the excessive dependence of local governments on real estate development, which has excessively promoted the development of commercial housing and further intensified the speculation in the real estate market.
The financial leverage effect is also one of the important reasons for the speculation of commercial housing. The positive correlation between leveraged loans from banks and real estate investment allows home buyers to invest in real estate with the help of bank funds. This leverage effect allows buyers to pay only a fraction of the funds, but can obtain huge returns through the appreciation of the real estate market.
Of course, people's views on whether commercial housing is just a speculative product vary depending on the region and perspective. In some.
In first- and second-tier cities and core areas of popular cities, the rate of housing prices** is indeed faster, and the return on investment is higher. This also makes buyers pay more attention to its investment attributes when buying commercial housing. However, in some.
In third- and fourth-tier cities and less popular areas, the rate of housing prices** is relatively slow, and the return on investment is limited. In this case, buyers are more likely to buy commercial housing for their own residential needs.
The essence of commercial housing does have certain investment attributes, and factors such as changes in supply and demand, scarce land resources, demand and financial leverage have exacerbated the speculation of commercial housing. Although the regulatory measures for the commercial housing market have been gradually improved, the property speculation still has a certain influence.