孙宏斌与王健林说法一致！再过5年，180万的房产大概还能值多少钱

Market Overview - The real estate market is experiencing significant polarization, with first-tier cities showing signs of recovery while third and fourth-tier cities continue to struggle with declining property values [3] - In 2025, urbanization rate in China surpassed 68%, but there is a notable population outflow from northeastern and northwestern regions, indicating a shift in demographic trends [3] Policy Adjustments - New policies introduced in November 2024 include raising the tax exemption area for property transactions from 90 square meters to 140 square meters, aimed at stimulating market activity [5] - The shift from a restrictive policy framework to a more collaborative approach between supply and demand is evident, with measures such as the unification of tax exemption periods for second-hand homes [5] Capital Movements - Real estate companies are adjusting their strategies, with firms like Wanda and Sunac focusing on reducing debt and shifting towards asset-light operations [7] - Foreign investment in commercial real estate in first-tier cities is on the rise, with a reported 15% increase in 2025, particularly in core business districts [7] Consumer Trends - The concept of "good housing" has emerged as a key policy focus in 2025, influencing consumer preferences towards properties with better amenities rather than just larger spaces [9] - A survey indicates that 65% of post-90s homebuyers are willing to pay a premium for enhanced community facilities, reflecting a shift in housing demand [9] Taxation Implications - The anticipated introduction of property tax legislation is reshaping market dynamics, with debates on its potential impact on speculation and housing prices [11] - The uncertainty surrounding property tax implementation raises questions about the behavior of multi-property owners and its effects on the rental market [12]