Housing Inventory Now Estimated at 700 million sqm, Lower Tier Sales Stagnant

January 19, 2015 the National Bureau of Statistics released the national real estate development and sales data, in 2015, the national real estate development and investment 9.5979 trillion yuan, up for sale in the area of ​​718.53 million square meters, compared with the end of 2014 an increase of more than 100 million square meters, an increase of 15.6 %, the highest in history.

According to the National Bureau of Statistics, as of the end of 2015, the national housing sales by area was ​​452.48 million square kilometers, an increase of 11.2% over 2014, accounting for 63% of the real estate inventory. Other aspects, office stock amounted to 3276 square kilometers, representing an increase of 24.7%. Commercial space inventory of 14,664 square kilometers, an increase of 24.6%.

Southern Reporter found that people in our country because of the current state to urban mobility, residential demand is relatively strong, so the real estate industry has always been for the bulk of commercial housing, the high proportion. However, the current economic downward pressure, the purchase needs of consumers restrained, housing stock remains high, housing prices become the body burden.

..."The current Chinese real estate market is not absolute glut, but local surplus." Feng Jun, secretary general of China Real Estate Association, told reporters that the case of the south.

From a regional perspective, 2015 first-tier cities housing prices are rising, sales also achieved good results, which are driving the stock continue to digest and updated. Meanwhile, the third- and fourth-tier cities prices fell, market transactions have also been deserted. Around the property market can be described as being of mixed. The third- and fourth-tier cities have yet to come out from the real estate winter.

..."Because of the slow population growth in third- and fourth-tier cities, low income leads to lack a of purchasing power, reducing demand. Plus real estate agency inventory in the third- and fourth-tier cities is increasing, the accumulation of too much inventory, and now find it difficult to digest." Radius Deng, chief real estate analyst Hiroshi interview with Southern reporters said that stocks in some cities has reached 20 months, 30 months or even more, supply is much greater than demand. Therefore, government and housing prices this year, the focus will be placed to the stock four-tier cities, and actively promote these cities to digest the stock.

And recently, Wanda Group Chairman Wang Jianlin analysis Financial Forum in Hong Kong assertion, four-tier cities in China property stocks may take four to five years time to digest.

Due to the high cost of land, real estate investment risk first and second-tier cities high. Wanda real estate and investment mainly in the second and third tier cities of the commercial real estate. Wang Jianlin that "real estate sales are highly concentrated in first- and second-tier cities, 36 cities accounted for three-quarters of the country's total sales, so the proportion of third- and fourth-tier cities is very low, as long as they slowly begin to reduce inventory, it there will be no problem."
Bifucation is now total. The first-tier cities are trying to boost land sales and increase housing inventory, while third- and fourth-tier cities are desperately trying to reduce inventory. Location, location, location.

iFeng: 7亿库存:三四线城市销不动 北上广深补存量

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