The US media reported that the long -term action of China ’s stable real estate market seems to be entering a difficult new stage: data shows that the demand for house purchase is weakening, and the number of second -hand housing listings is surging.
The Wall Street Journal reported on Friday (June 30) that China's real estate sales have briefly recovered in early 2023.However, the transaction volume of major cities, including Shanghai, has recently declined, and housing prices in most cities in China are falling.
What is worsening is that more and more homeowners are selling their housing listing, which has promoted the number of new second -hand housing listings a new year high.
According to the data from the research institution Shanghai Yiju Real Estate Research Institute, in 13 major cities including Shanghai, Beijing, Guangzhou and Hangzhou, the number of second -hand housing in May increased by 25% over December last year.Among them, Shanghai's listings increased by 82%, and the number of listings in Wuhan increased by 72%.
It is reported that to a certain extent, this growth shows that the Chinese economy has begun to normalize after more than two years of crown disease prevention and control.During the prevention and control of the epidemic prevention and control, the life of many owners pressed the suspension key.Many people now start to plan to get married, have children or relocate, and they must sell the house.
However, some sellers said that they were selling houses because they were facing financial pressure or losing confidence in the market. They wanted to get away as soon as possible before the property market became worse.
Analysts warn that if too many homeowners try to sell houses at the same time, they may exacerbate the concerns of excess supply, bringing a new round of downward pressure on China's house prices, and it is very fragile to damage people.Economic confidence.
The chief Chinese economist Pang Yan analyzed that when the house supply was too much worse, house prices would definitely be under pressure.He said that everyone was waiting for house prices to bottom out.
A seller of Qingdao told the Wall Street Journal that she had to significantly reduce the asking price many times before, and finally found a buyer in early June.Her house was originally listed at about $ 126,000 (the same, about $ 170,000), but in the end it had to be sold for about $ 97,000.
At least since 2021, China's real estate market has been worrying. Previously, the Chinese government tightened the credit of developers to curb speculation.Some developers have developed a wave of breach of contracts, bringing waves of shocks to the bond market.
However, house prices have never fallen to the same degree.It is mainly impacted by developers, bond holders, and local governments with liabilities. The latter is seriously dependent on selling land to developers to obtain operating funds.
According to the data of the online real estate platform Zhuge's house, in the past year, the average price of second -hand housing in 100 key cities in China has fallen by 0.7%.In the United States, the residential prices fell 14%in the three years after the bursting of the real estate market in 2008.
In the past year, local governments in China have taken measures to support housing prices, including prohibiting housing companies from providing significant discounts.
The Wall Street Journal reports described that boosting the real estate market is vital to the Chinese government: real estate accounts for a quarter in Chinese economic activities.Real estate is also the main source of ordinary Chinese wealth.
If the prosperity continues to decline, it may further drag down the Chinese economy.After the Chinese government ended the dynamic clearance of the crown disease at the end of last year, China's economic activities initially had a blowout, but it has fallen into stagnation in recent months.
