Reported 8 months ago
Lin Qiaohui on June 18, 2024, unveils the unprecedented preferential scheme causing housing market chaos with phenomena like subletting and fake households. The imbalance between supply and demand, seen through the soaring amount of outstanding housing loans breaking historical records, is attributed to misguided anti-speculation policies. Restrictions like the 'Average Land Ownership Act' limiting pre-sale house re-sales lead to a shortage in supply, triggering panic buying among potential homeowners. Furthermore, the new property tax and relaxed loan conditions fuel the market frenzy, making it difficult for buyers to find affordable properties in certain regions. Experts caution against hasty purchases and advise investing wisely in areas with sustainable demand to avoid sharp price reversals in the future.
Source: YAHOO