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Research on Chinese Property Market

Summary of conclusions

In the past 20 years, the general trend of China's real estate market is determined by the people's demand for commercial housing from scratch. However, today, the per capita housing area has reached 40 square meters. It is not difficult to draw the conclusion that the overall supply has become balanced. Admittedly, there are obviously imbalances between regions and income groups. Therefore, from the perspective of national policy orientation, the next step in line with the general policy is to develop public rental housing and affordable housing.

Our judgment on the general direction of real estate is: the total amount tends to balance; Local imbalance still exists; The long-term mechanism will become the top priority in the next stage. In the short term, we believe that 2018 will not repeat the hot situation of the national real estate market from 2016 to 2017, but will face the situation of generally stable prices or small growth, and declining trading volume. As far as real estate enterprises are concerned, integration and differentiation will become an obvious trend.