Global Times: Oversupply in China’s housing market remains a problem:former statistician "even 1.4 billion people cannot fill all those vacant houses"

[beijingwalker]

I think he is trying to point out the Chinese are trying to project a narrative that isn't always true.

That's why I say he is your god, a known hater, you only listen to just one person. I post random foreigners whose channels are casual live about themselves, and you only repeatedly resort to one China hater's narrative, which made you stupid and blind.

 

[Viet]

its why they got such tight capital controls

so that u cant easily run off to places with property rights

Those Grundbuch are kept for 1,000 years at least. Nothing is more safe.
Ccp wants to stop the outflow otherwise the floods of Chinese buying houses in Australia, Canada and elsewhere will continue.
If China then buy something at prime cities as Beijing, Shanghai or Zhenshen, or Hong Kong. certainly not cheap but investable.

 

[CIA Mole]

Those Grundbuch are kept for 1,000 years at least. Nothing is more safe.
Ccp wants to stop the outflow otherwise the floods of Chinese buying houses in Australia, Canada and elsewhere will continue.
If China then buy something at prime cities as Beijing, Shanghai or Zhenshen, or Hong Kong. certainly not cheap but investable.

china is a feudal society u work for the lords who own the land

like the old days

 

[Zsari]

The guy also break the news about China just dumping EV before the mainstream media pick it up.

China’s Abandoned, Obsolete Electric Cars Are Piling Up in Cities

A subsidy-fueled boom helped build China into an electric-car giant but left weed-infested lots across the nation brimming with unwanted battery-powered vehicles.

www.bloomberg.com

PDF: Empty "ghost buildings" are just a Western lie to discredit China. Lies..lies..lies...lies...lies...lies..lies...lies

Global Times now admitting...

Oversupply in China’s housing market remains a problem: former statistician - Global Times

www.globaltimes.cn

real estate Photo:VCG

Former deputy director of the National Bureau of Statistics (NBS), He Keng, described the housing market oversupply in Chinese cities as "even (China's) 1.4 billion people cannot fill all those vacant houses."

He made the remark during a speech to the 2023 China Real Economy Development Conference held on Saturday, and he called for business transformation of China's real estate companies.

He expressed his own concern about the real estate sector. With an oversupply of housing, it is possible that 1.4 billion people can't fill all these houses in China, though the exact numbers of vacant housing remain unclear, he noted.

It is unwise to vigorously develop real estate as there are still many vacant apartments in China, suggesting the developers transform their businesses as quickly as possible to adapt to this new situation, He said.

According to a survey done by Beike Research Institute in August 2022, the average vacancy rate of housing in 28 large and medium-sized cities in China is 12 percent, with Shenzhen, Beijing and Shanghai reporting a vacancy rate of less than 7 percent.

Recently, Chinese cities have worked out multiple pro-growth policies to revive the real estate sector to boost the overall economy.

On Wednesday, Guangzhou municipality announced new measures to relax policy curbs on house purchases in the city's four major districts, follow the steps of other major Chinese cities including Nanjing, Qingdao, Shenyang, Wuhan, Jinan and Zhengzhou.

On September 15, China revealed the economic data for August, showing a better-than-expected economic recovery, as the NBS reported a 4.5 percent growth in value-added industrial output and 4.6 percent increase in retail sales, all exceeds numbers of previous month.

"Arresting the decline in real estate capital investment is important for the economy," said Zhou Maohua, an economist at Everbright Bank.

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Real estate and job worries slow China's economy

Uncertain consumers shift to saving as private-sector profits slump

asia.nikkei.com

PDF: SerpentZA is all lies..lies..lies....oh wait looks like ChinaDaily is now confirming what he said...funny that!

It's a matter of affordability as most of these housings are beyond what many can afford, rather than a lack of demand. The government has been trying to burst the housing bubble and doing so would sink many real estate developers, that's a given.

 

[Puffin]

That's why I say he is your god, a known hater, you only listen to just one person. I post random foreigners whose channels are casual live about themselves, and you only repeatedly resort to one China hater's narrative, which made you stupid and blind.

You are a Chinese paid or brainwashed idiot who spends his entire life , day and night 365 days, here and probably on other forums copy pasting favorable propaganda snippets .
You may not even be one person , maybe a group of Beijingwalker.
You cannot be working or earning as you are busy posting day and night ,so your payment must come from CCCP propaganda budget.

 

[beijingwalker]

You are a Chinese paid or brainwashed idiot who spends his entire life , day and night 365 days, here and probably on other forums copy pasting favorable propaganda snippets .
You may not even be one person , maybe a group of Beijingwalker.
You cannot be working or earning as you are busy posting day and night ,so your payment must come from CCCP propaganda budget.

That's you, stupid US lapdog.

 

[Hamartia Antidote]

It's a matter of affordability as most of these housings are beyond what many can afford, rather than a lack of demand. The government has been trying to burst the housing bubble and doing so would sink many real estate developers, that's a given.

The problem is this is going to turn into NYC where apartments are out of reach to everyday people and the owners end up being rich landlords who keep gobbling up all the units and renting out to others.

 

[Reashot Xigwin]

That's you, stupid US lapdog.

View attachment 956703

You're literally a slave.

 

[beijingwalker]

You're literally a slave.

You are, an US slave. loving your white master more than they love themselves. pathetic.

 

[Reashot Xigwin]

You are, an US slave. loving your white master more than they love themselves. pathetic.

Xi Jinping have his wealth stashed in the West. Mate. Wonder why?

Maybe because he trust the white slave master more than his own people?

The problem is this is going to turn into NYC where apartments are out of reach to everyday people and the owners end up being rich landlords who keep gobbling up all the units and renting out to others.

I think a lot of Chinese property will be demolished or left to rot in the future. China is no longer considered an attractive investment.

The most lucrative business in China right now is people trying to get their investment out.

 

[Zsari]

I think a lot of Chinese property will be demolished or left to rot in the future. China is no longer considered an attractive investment.

The most lucrative business in China right now is people trying to get their investment out.

Chinese property market does not run on foreign investments.

 

[Hamartia Antidote]

I think a lot of Chinese property will be demolished or left to rot in the future. China is no longer considered an attractive investment.

I don't think they are going to tear them down unless they have to. The problem is dealing with the weather and its effects on maintenance.

 

[Song Hong]

China urbanization is largely completed, and fertitlity rate is falling,

Only Beijing and Shanghai will hold. These days, Shenzhen is also falling.

 

[Reashot Xigwin]

 

[Song Hong]

In some ways the collapse of property is a GOOD thing. In the past, the GoC maintains a city residenceship system. The collapse of property will make cities quickly abolish such unfair system.

I see the city residenceship system going away soon.