It seems that Beijing’s housing prices are really going to drop this time
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Beijing housing prices: Statistics released recently by the Beijing Real Estate Transaction Management Network show that in August, 5,261 new residential units were sold in Beijing, while 7,782 used residential units were sold, for a total of 13,000 units sold – a 26.4% decline compared to the previous month, marking the lowest figure in three years. “The \"golden September and silver October\" period should have been the busiest time for Beijing’s real estate industry, but it remains sluggish due to housing control measures such as purchase restrictions, lending limits, and price controls, leading to public expectations of falling housing prices. Faced with the reality of declining property sales and a surge in inventory, have housing prices started to fall? Is a turning point imminent? Have housing prices truly dropped?
The working people all hope for falling housing prices; I wonder what the government thinks? If housing prices fall, GDP is likely to suffer… The government probably won’t sit idly by; there will be new regulatory measures, but they’ll just be used to deceive the people
True and false, false and true – as for whether housing prices will drop, believe it or not, I certainly don’t believe it!
Indeed, this bubble is getting bigger and bigger; it’s time for it to burst. But even if it does drop, I don’t think it will fall to the levels of 7 or 8 years ago
At present, China’s economic development is primarily driven by the real estate sector; if housing prices fall, China’s annual economic growth rate of 8% will surely slow down. With the current strong demand-driven growth in China, **will this lead to a significant drop in housing prices?** It seems unlikely; a moderate price cut is probably just meant to reduce public pressure.
Anyway... what the average person thinks about is simply being able to \"afford\" a place to live~
Life is absolutely terrible outside the five rings. . . .
It seems that every time it’s said that housing prices in China will drop, it coincides with a poor global economic situation! It actually saved China’s real estate industry! Could it be a coincidence? !
Without ending the monopoly on Chinese land, price cuts are impossible. In China, which **relies entirely on land-based finance**, not a single foolish locality would want to see its sources of income from land diminish. China’s land finance tax system has flaws; currently, a one-time land use tax is levied, which, in a situation of land monopoly, facilitates property speculators in profiting from real estate speculation. If it’s like in the United States, where a property tax is levied annually, at a rate of 1% per year. With a 5% property tax, speculators would have to pay this fee if they fail to sell their properties, whereas holding onto them currently incurs no cost. As for ordinary homebuyers, if they have to pay property tax every year, they will carefully consider the annual living costs associated with owning a home. In fact, using property tax to replace the current land transfer fees could solve many problems. It is unfair to buy land from farmers at low prices and sell it at high prices; moreover, only ** are allowed to sell land, which results in ** becoming an interest group rather than a service provider. In fact, **it’s the departments that are the biggest winners in property speculation, as they hold the power to approve or reject dozens of property transactions. As an official, I can tell the real estate developers, \"Buy these properties for me; I won’t give you any money now. In a year, if the value of these properties increases by 100,000, and someone buys them from me, I can make a profit of 100,000. If the value doesn’t increase, then it’s as if my words were just empty talk.\" Unlike ordinary speculators who simply buy and sell properties, I actually purchase them first, and thus am required to pay value-added tax.