, Beijing, December 12 (Zhongxin Financial Reporter Zuo Yukun) "In 7, the relationship between supply and demand in the real estate market will undergo major changes, and government departments at all levels will frequently optimize the property market policies to promote the smooth operation of the real estate market, and the policy environment is close to the most relaxed stage in 2023, but factors such as residents' expectations still restrict the pace of market repair." ”

On December 12, the "7 China Real Estate Big Data Annual Conference and 2023 China Real Estate Market Trend Report" hosted by Beijing Zhongzhi Information Technology Research Institute and undertaken by China Real Estate Index System and China Property Service Index System was held in Beijing. The above content is mentioned in the "China Real Estate Market 2024 Summary & 2023 Outlook" (hereinafter referred to as the "Report") released by the China Index Research Institute on the spot.

The report summarizes the real estate market in 2023 and finds that in terms of housing prices, from January to November 2023, the prices of new residential buildings in Baicheng have increased by 1.11%, mainly due to policy adjustments and the entry of some high-quality improved real estate into the market, and the prices of new homes have risen structurally. From January to November, the price of second-hand housing in Baicheng fell by 0.16%, an increase of 1.11 percentage points over the same period last year.

In terms of sales, from January to October 2023, the sales area of commercial housing in the country was 1 million square meters, down 10.9% year-on-year, and the sales of commercial housing were 3.7 trillion yuan, down 8.9% year-on-year, of which the sales area of existing houses increased by 7.4% year-on-year, which was significantly better than that of off-plan housing. The sales of the top 9 real estate enterprises decreased by 15.6% year-on-year, and the sales of central state-owned enterprises increased year-on-year.

Looking forward to 2024, the report believes that the restrictive policies that are expected to be introduced in the overheating stage of the market are still expected to continue to be optimized and adjusted, and there is room for policies at both the supply and demand ends.

On the demand side, reducing the cost of buying a house and lowering the threshold for buying a house is still the focus of policy optimization, and the policies of first-tier cities may continue to be optimized in the future, with Beijing and Shanghai expected to reduce the down payment ratio of second homes, reduce mortgage interest rates, optimize the identification standards for ordinary houses, and reduce transaction taxes and fees. Core second-tier cities are expected to fully cancel purchase restrictions; More low-energy cities may promote the release of housing demand through the issuance of housing purchase subsidies and other means.

On the supply side, under the requirement of "promoting a virtuous cycle of finance and real estate", the financial support policies on the enterprise side are expected to continue to be refined, and the financing environment for enterprises is expected to be improved; The funds and supporting measures of "guaranteed delivery of buildings" may be further followed up to promote the resolution of project delivery risks; At the same time, it is expected that the rules for land auctions in various regions will continue to be relaxed, driving the activity of the land market to increase; In addition, the construction of the "three major projects" may be an important focus of the incremental policy in 2024, and the relevant policies are expected to accelerate the implementation.

The "Summary and Outlook of China's Housing Rental Market in 2023" and the "2023 Property Service Price Index Research Report" were also released on the spot.

In terms of the housing rental market, according to incomplete statistics, from January to November, local governments issued about 1 housing rental policies, and the supply and demand sides worked together to promote the rapid and healthy development of the industry. During the year, rents were generally stable, and the average rent of residential buildings in the 11 key cities across the country increased by 160.11% in the first 50 months.

In terms of property services, the healthy development momentum of property service enterprises will remain unchanged in 2023, with the continuous consolidation of service quality, the scale of the industry will reach a new high, and win market reputation through high-quality business. (ENDS)