2021-11-21

Chinese Developers Quitting Real Estate, BigTech Moves In

iFeng: 楼市寒冬!绿地、恒大:我不做房地产啦!字节、快手、波司登:我来
However, perhaps as someone in the industry said, "Real estate is like a besieged city. People inside are miserable, but people outside want to come in." Contrary to the continuous transformation of real estate companies and the sale of assets, some Internet giants have entered the real estate industry one after another .

For example, ByteDance has accelerated its deployment of real estate business since this year, and has successively established 8 companies with real estate brokerage services through the establishment of new companies, the acquisition of equity, and the change of business scope . On October 25, Kuaishou also announced its entry into the real estate industry .

Prior to this, Internet giants such as Alibaba, JD.com, and Xiaomi have entered real estate . Even just a few days ago, apparel companies Bosideng and Hongxing Erke were also rumored to have entered the real estate industry, and related news rushed into hot searches on Weibo.

What can the entry of these Internet giants bring to the real estate industry? Obviously, it is traffic and digitization.

However, judging from the current general environment, the real estate market today is cold and windy. It remains to be seen whether the Internet giants enter the game.

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