In 2026, the rate was probably a watershed in china's real estate market。
Since the beginning of this year, official declarations have been issued that there has been no rapid growth in real estate, but there has been no change in ballast status, and high-level efforts have been made to correct market expectations and promote a soft landing for the industry。
For example, local state enterprises have begun to acquire second-hand sources of stock。
The purpose of the combination is simple: to connect the second-hand house trading chain, to activate market liquidity, to survive the stock market, to secure market confidence and to keep up with other core cities very quickly。
More important is where the money goes. Domestic authoritative financial think tanks have found that, by 2026, between 55 and 60 trillion fixed-term deposits will have expired in the front-line countries alone, and that every day that money is released will surely find a safe place。
In the face of high-profile gold and volatile capital markets, large enough and robust quality real estate remains irreplaceable。
For example, the combined rental rate of return averaged around 1. 9 per cent, with rent gains of 2. 6 per cent to 4. 6 per cent for compact households in core locations。
Compared to around 3 per cent of the cost of housing and 2. 2 per cent of the 30-year sovereign debt, the cash flow of rent from high-quality housing sources has been reduced and no risk-free gains have been lost。
The stability of the house does not mean that the house can be preserved. The bottom logic of the market has completely changed, with families in two suites facing at least three real problems in the future。
01, the cost of holding increases straight up and the house may become a liability
The property tax is just a matter of time。
According to the information disclosed, the initial range is exempt, and the holding costs for the second and more are likely to increase in the ladder, with the additional suite being subject to a high annual fixed cost。
The situation is likely to be more serious in houses in remote suburbs or county towns, where there are substantial property costs per se, plus property taxes, which directly flow household cash to “water pumpers” and which, instead of being profitable, can become a burden of chronic financial consumption。
Worse still, with the large-scale entry of guaranteed rental housing, the rate of return on rent for ordinary housing will be further reduced, making it more difficult to cover holding costs with rent。
02, book wealth may shrink and mobility may die. Oh, shit
Now that the volume of second-hand house deals has exceeded the volume of the new house, the seller's market has completely turned into a buyer's market。
Young home buyers, in cash, are increasingly choosing sources of housing - without an industrially supported home, without a good school district, without perfected housing。
This means that many families may not have a marketable second suite on their books, but no one can be found when they want to cash out。
Liquidity depletion is worse than falling prices, especially in the case of “fowl ribs” that were bought by the wind during the last cycle, in general, in general, and poorly integrated, with “no sell, no rent” in the future。
03. Lease market logic is being re-engineered to make lease mortgages increasingly difficult
Over the past five years, nearly 9 million subsidized rental housing units have been raised nationwide. These houses are low-cost, well-coated, and there are official guarantees that directly alter the rules of the rental market。
For ordinary households, the purchase of a second flat is highly competitive, rents are unbearable and it is becoming increasingly impossible to rely on rents for “rent loans” or even financial freedom。
The rental market has begun to divide and, despite the price advantages of high-quality housing, ordinary dwellings may be suppressed for a long time。
More importantly, with the establishment of the “rent-purchase” housing system, rental housing will become a long-term option for more young people, and when rental housing has access to a variety of packages and services, it will not be the only option。
This is a trend that multiple suite holders need to consider carefully。
At the end:
The logic of the real estate market has changed completely. The house was no longer a financial product, but had returned to live, and the past had been over “to buy a house with its eyes closed”。
For families with two rooms in their hands, the most important thing to do now is to reconsider:
1 rationally planned holding structures: priority is given to the purchase of high-quality properties at the core of the city and to the removal of “root” assets。
2 clearing the cost of holding: careful accounting of the cost of each house (e. G. Mortgages, property, taxes, fees, etc.), potential income (rental, value added, etc.)。
3. Adjusting psychological expectations: abandoning the “winds of the wind” and dealing with property in a business mentality, focusing on cash flows, managing risks and ensuring a steady return。
In the future, only truly high-quality assets could cross the cycle and houses without industrial support, without influxes and without scarce resources would eventually be eliminated。
It's not far from 2026. Get ready for a new environment。
