The changes in the real estate market have caught many buyers off guard, and now the property market is like the weather, cold and cold.
Housing for living in has been deeply rooted in the hearts of the people, and people's expectations for rising housing prices have been basically destroyed.
Nowadays, the property market has undergone earth-shaking changes, from the previous sale of a house to the appreciation of the value of the property, to now holding the property and watching the price of the house continue to fall. The landlord's heart can be described as mixed.
But for landlords, the challenge is far from over. In the future, families with two homes should pay attention to these three major challenges that you need to deal with as soon as possible.
First, second-hand houses that are difficult to sell.
Starting from 2023, landlords will begin to sell their houses at lower prices in major first- and second-tier cities, and the price reductions are getting bigger and bigger. According to the statistics of the well-known real estate company Lianjia, the overall housing prices in Shanghai fell by more than 2%, note that this is the decline of the entire Shanghai.
This is still the housing price of the first-tier city of Shanghai, not to mention the price reduction of other second-tier cities. It's not uncommon for landlords to cut meat and sell their homes, and this is likely to get worse in 2024.
Second, the cost of holding is likely to rise significantly.
The state has repeatedly proposed to steadily introduce a real estate tax, and the specific implementation plan has not yet been decided, but people who own multiple properties are already feeling the pressure. Because the real estate tax is likely to avoid the first home, it will be levied on properties with two or more properties under their name.
In addition, there are property fees that need to be paid for multiple suites, including expenses such as old wear and tear repairs. The cost of ownership will be higher for multi-home property owners.
Third, rents in urban areas have fallen overall.
Taking Shanghai as an example, in 2022, the rent of a one-bedroom in a community in Xuhui District will be 4,500 yuan a month, and the rent for the same house has now dropped to 3,600 yuan a month.
The decline is quite obvious, many landlords have collapsed, tenants will not rent without bargaining for rent renewal, they used to be very bullish, and now they have to bow their heads.
In the face of changes in the real estate industry and the trend of the times, families with two homes need to plan ahead. It's time to reallocate your assets, the decline of the house is probably a foregone conclusion, it should be sold or sold, now is the price reduction, and it may not be easy to sell in the future.