马云所言不假？名下房产数量越多的人，越可能面临这些问题？

Core Viewpoint - The article discusses the challenges faced by individuals owning multiple properties in the changing Chinese real estate market, suggesting that the belief in real estate as a guaranteed wealth generator may no longer hold true [1][13]. Market Trends - The Chinese real estate market has seen significant changes, with a reported 8.3% year-on-year decline in national commercial housing sales area and a decrease in new residential price indices across first, second, and third-tier cities [1]. - Population structure changes are accelerating, with projections indicating that by 2030, over 20% of the population will be aged 65 and above, coupled with a declining birth rate of 7.5‰ in 2024, leading to a slowdown in housing demand [3]. Challenges for Property Owners - Holding costs are rising annually due to ongoing property tax reforms, with estimated annual property tax for a 3 million yuan home ranging from 3,000 to 6,000 yuan, which can become a significant burden for multiple property owners [3]. - Property management costs, including maintenance and insurance, are also increasing, with an average rise of 8.5% in property management fees reported for 2025 [3]. - Liquidity issues are evident as the average transaction cycle for residential properties has extended to 3.8 months, nearly double that of 2020, leading to difficulties in selling properties [4]. - The rental market is facing challenges with reduced demand and increased tenant expectations, complicating the management of rental properties for owners [5]. Investment Risks - The concentration of assets in real estate increases systemic risk, as properties often account for 60-70% of a typical family's total assets, making them vulnerable to market fluctuations [5]. - Regional disparities in urban development have led to depreciation risks, with over 50 cities experiencing a decline in second-hand housing prices by more than 15% compared to five years ago [8]. - The aging population poses additional challenges, as many will face reduced income post-retirement while still incurring ongoing property-related expenses [9]. Strategic Recommendations - Property owners are advised to adjust their asset allocation by diversifying investments into more liquid and stable income-generating assets, such as REITs or insurance products [10]. - Enhancing rental management efficiency through professional services can alleviate the burdens of property management [10]. - Optimizing property holdings by evaluating the profitability and costs associated with each property can lead to better asset quality [10]. - Planning for retirement and inheritance through financial products and clear estate planning can mitigate future disputes and financial strain [11].