手持多套房家庭，明年将面临4大难题？马光远说得很真实

Core Insights - The Chinese real estate market is undergoing a significant adjustment, with predictions of a shift from investment-driven to residential-focused dynamics, leading to a decline in property prices and sales [1] Group 1: Market Trends - Since March 2023, the domestic real estate market has entered a new adjustment phase, characterized by a simultaneous decline in both transaction volume and prices [1] - In the first nine months of 2023, the sales area of commercial housing decreased by 7.5% year-on-year, totaling 84,806 million square meters, while sales revenue fell by 4.6% to 89,070 billion [1] - The average selling price of residential properties has been on a downward trend, with a notable drop of over 16% compared to the peak at the beginning of the year [1] Group 2: Challenges for Homeowners - Homeowners with multiple properties are facing significant challenges due to the ongoing market adjustments [2] - Challenge 1: Continuous depreciation of property value, with some areas in cities like Shanghai seeing declines of up to 15% from historical highs [5] - Challenge 2: Difficulty in liquidating properties, as the number of second-hand homes listed surged by 27.94% month-on-month, reaching 618,900 units by the end of September [7] - Challenge 3: Increasing holding costs, including higher property fees and maintenance costs, which are becoming burdensome for owners of multiple properties [8] - Challenge 4: The "rent-to-pay mortgage" model is becoming unsustainable, as rental income may not cover mortgage payments, leading to potential losses [9]