Owning your own house has a profound meaning of "starting a family" in traditional Chinese culture.
Especially in the past 20 years, with the boom of the real estate market, this concept has been further strengthened: people generally began to believe that only if you have a house can you get married, and more rooms are powerful.
As a result, houses became one of the main assets of Chinese families. People are buying homes to accumulate assets and even as part of their retirement plans.
But it is a pity that no one is good and no flower is prosperous, and this situation has been reversed in 2023, and the real estate industry has ushered in a period of adjustment.
In the face of this change, the central government has also directly set the tone, and the relationship between supply and demand of real estate has been fundamentally changed.
In this context, 41.5% of urban households may face three major disadvantages due to their ownership of two or more properties, which is worrying.
01. Assets continue to decline
Although the macro data shows that the decline in second-hand housing in major cities is not high, the actual transaction situation is not optimistic.
Taking some new first-tier cities as an example, the daily transaction volume of second-hand houses is only 200-300 sets, which is a drop in the bucket compared with hundreds of thousands of listings.
The transaction volume is not high, and the actual transaction price is also continuing to decline relative to the listing price.
It may be that the house bought in the first 2 years does not count interest, and the handover will directly lose hundreds of thousands.
Taking my city as an example, the once popular real estate project Jianjian Starlight City, the highest sales price once reached 18,000 yuan / square meter, and buyers still need to go through the lottery to buy.
Now, the lowest price of second-hand houses in the property has fallen to 13,000 yuan / square meter, which shows the bleakness.
The most important thing is that the market has not yet bottomed out, and no one can say what the future holds.
This is undoubtedly a severe test for urban families who own multiple properties.
02. Increased cost of ownership
In addition, the continuous increase in the cost of ownership has undoubtedly become another round of challenges for these owners.
Although some cash flow pressure can be alleviated by charging leasing fees, the drastic changes in the market have gradually increased their burden.
First of all, the return of urban population has led to the rental market not being as smooth as it used to be.
Most landlords can only rely on agents to help rent, and there is always a vacancy period of 1-2 months throughout the year.
Secondly, the current economic situation has brought more pressure to the owner's originally huge debt.
This is despite the recent policy adopted by the state to reduce the interest rate of existing housing loans.
However, this move mainly relieved the pressure on first-home buyers, and did not bring much benefit to owners who held multiple properties.
In such a situation, they can only stagger and carry the house on.
Finally, the pending real estate tax, like the sword of Damocles, hangs over the heads of these families at all times, bringing a heavy psychological burden.
This policy trend has been going on for a long time, and if it were not for the impact of the epidemic, it might have been implemented long ago.
This makes them potentially face huge financial losses if they do not dispose of the property in a timely manner.
03 Increased selling pressure
Finally, most owners of multiple properties face huge sales pressure.
After all, as we mentioned earlier, the number of house listings in some cities has reached hundreds of thousands, but the daily transaction volume is only 200-300 sets.
Such data is clearly worrying.
Imagine if each neighborhood took a few months to close a house. Those communities with poor quality are difficult to see several sets of transactions a year.
Such a market environment has undoubtedly increased the pressure on these owners to sell houses.
In addition, compared with second-hand houses, the current new houses undoubtedly have higher attractiveness.
After all, in order to stimulate real estate, local land plots recently launched tend to have lower plot ratios and more reasonable community planning.
This makes new homes a natural choice for home buyers.
In addition, developers are not to be outdone, and have strengthened the greening of the community and improved public facilities.
Take many real estate projects that have recently entered the market, the community not only has a swimming pool, but also a football field, and even some buildings have free fitness clubs.
How can this be compared to those old communities?
In such a market environment, the owners of multiple properties can be said to be in trouble.
They not only have to deal with fierce competition from the new housing market, but also face the sluggishness of the second-hand housing market.
The sluggish transaction volume and the strength of new homes have put them in a dilemma.
All in all, real estate has really become more and more difficult to get to this point.
Families with multiple houses in their hands undoubtedly face many difficulties.
In such a realistic situation, it is recommended to sell it as soon as possible. Otherwise, as the situation gets worse further, maybe it will really hit the hand.