China’s National Bureau of Statistics Presents Views and Outlook for Property Market

Published: Jul 25, 2023 13:22

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NBS: Real estate investment will gradually return to a reasonable range

Fu Linghui, spokesman for the National Bureau of Statistics of China, said at a news conference today that the real estate investment situation is still declining, the completed area is increasing, and the overall construction area is reducing. Future real estate inavestment will stay in a low level. However, with the implementation of the real estate market adjustment measures, real estate investment will gradually return to a reasonable level.

NBS: China’s real estate market will shift from high speed to stable pace in the medium and long run

Fu Linghui, spokesman for the National Bureau of Statistics of China, said at a press conference today that the real estate market will stabilize in the future as the economy recovers and policies to promote the healthy development of the real estate sector take effect. From the perspective of demand, under the policy of “housing is for living rather than for speculating”, speculative housing demand has been gradually suppressed, and reasonable housing demand for rigidity and improvement has been released in an orderly manner. These will continue to drive real estate development. From the supply side, the business model of “high leverage, high debt and high turnover” of some real estate enterprises is difficult to maintain, and the supply of the real estate market is undergoing phased adjustment. As the effect of the adjustment shows, the market supply will gradually stabilize. In the medium and long term, China’s real estate market development is shifting from the past high-speed way to a steady development, which can be traced to the changes in the development stage of the real estate market and the adjustment of market supply and demand.

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