Dismal Real Estate Market Performance In CCP China

According to the 2022 national economic data released by the National Bureau of Statistics of Communist China on Jan 17, the overall performance of the real estate market in China is extremely dismal. Sales of real estate have declined by 24.3% compared with 2021, down nearly 5 trillion yuan (equivalent to about USD 737 billion), and back to the 2017 level. The national-wide real estate development investment was 13.2895 trillion yuan (equivalent to about USD1.96 trillion), 10% lower than in 2021. Residential investment was 10.646 trillion yuan (equivalent to about USD 1.57 trillion), down 9.5% from 2021. More disastrous data is that in 2022, the total nationwide new house construction total area has shrunk by 39.4% from 2021 and the land acquisition total area has fallen by 53.4%, with the total land transaction value lower by 48.4%. All the above data shows the continuous downturn of the real estate market in Communist China and the huge knock-on effect on Chinese builders and local government finances. In the past two years, the CCP’s huge real estate bubbles are continuously being burst by repressive regulations. Major real estate developers have been unable to repay the massive debts due and hundreds of construction projects have been halted on account of unbearably high operating costs. Even when the government introduced a series of incentive measures, the market failed to recover. China Real Estate Information Corporation said by the end of December 2022, only 62 of the 290 uncompleted projects have fully resumed, accounting for only 21%.

All indications point to the fact that the collapse of both Communist China’s housing market and banking system, has already begun.

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Translator: NFSC News
Design&editor: Fusu

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