Is there a solution to China’s housing market crisis?He Keng, former deputy director of China’s National Bureau of Statistics, bluntly said that China is currentlyreal estateThere is already too much supply, and 1.4 billion people may not have enough housing to live in. “The most extreme view is that the current number of vacant homes is enough to house 3 billion people.” Therefore, he called on real estate companies to make changes as soon as possible.
According to the Chinese online media “Observer Network”, the “2023 China Real Economy Development Conference” was held in Dongguan on the 23rd. He Keng said at the meeting that the current Chinese economy is indeed facing certain situations. Now that real estate is oversupplied, how many vacant homes are there? Each expert’s estimate is very different. “The most extreme estimate is that the current number of vacant homes is enough to accommodate 3 billion people.”
He Keng pointed out that this estimate may be a bit high, but 1.4 billion people may not be able to buy all the housing, and those who have the purchasing power to buy it will definitely not be able to buy it. He criticized that it was unwise to vigorously develop real estate with so many vacant homes. Under such circumstances, “real estate companies must make changes and act quickly.”
In recent years, how many empty houses there are in China has been the focus of attention from all walks of life. In August last year, a survey report released by Shell Research Institute pointed out that the average housing vacancy rate in China’s 28 large and medium-sized cities was 12%, which is relatively high.
Among them, Nanchang, the capital of Jiangxi province, ranks first in housing vacancy rate, which has reached 20%, which means that one-fifth of the houses sold in Nanchang are vacant. It is followed by Langfang, Hebei with a vacancy rate of 19%. Shenzhen,Beijing, Shanghai has the lowest vacancy rates, both below 7%. Xi’an,settlement private loanMost cities such as Kunming, Hefei and Wuxi are between 10% and 15%.
Earlier, there was news on the Chinese Internet that a survey by the State Grid Corporation of China in 660 cities showed that 65.4 million residential units had electricity meters that read zero for more than six months continuously. If there were three people in each apartment, it could house about 200 million people.
He Keng is well known in the Chinese financial community for his candor and candor. He also served as Vice Chairman of the Financial and Economic Committee of the 11th National People’s Congress of China. In early December 2009, He Keng criticized the government’s land speculation in an interview on CCTV’s “Face to Face” program, and revealed that he could not buy a house with his salary.
At that time, He Keng pointed out that China’s real estate bubble had already burst. One reason for this was speculation in government land, and the other was speculation in real estate with social funds.