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China’s real estate market cannot recover soon

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The prospect of China real estate market is expected to remain bleak in the first half of this year and the whole of 2022, despite supportive measures from the Government.

Experts said that the average house price in China is likely to stay flat this year, instead of increasing 2% as forecast in a survey in February. Housing demand for the whole year is also forecast to decrease. 10% while investment activities of real estate companies will decrease by 2.5%.

The bleak outlook for the real estate industry is mainly due to the COVID-19 outbreaks in many localities in China, which led to widespread lockdown measures.

Wang Xiaoqiang, an expert at real estate data provider Zhuge House Hunter, said the COVID-19 pandemic has had a strong impact on the Shanghai property market, as many developers and real estate agents. had to shut down in-person operations and many residents were quarantined, causing housing sales to plummet.

The Chinese government has now applied many measures to support the market, including subsidies, lowering lending interest rates, etc. However, experts say that Beijing More policies will be needed to help restore confidence in the market.

Liu Yuan, head of research at China’s largest real estate brokerage Centaline, said the only measures to ease restrictions on funding for real estate companies across the country are: and redevelopment of new rundown housing can stabilize the real estate market in this country.

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