China’s housing market to be oversupplied in 2020

SHANGHAI, Nov 20 (SMM) – China’s housing market is expected to cool further and slip into a supply surplus in 2020, according to a report from E-house China R&D Institute.

The supply of residential properties is likely to exceed demand next year, from a slender deficit this year.

Housing inventories and destocking period across 33 major Chinese cities have been slowly increasing and extending in the first nine months of the year, showed data from EH Consulting.

As of early November, stocks of residential properties in China’s capital city Beijing reached 72,800 units, the highest in eight years, according to data from real estate agency Centaline Property.