Sheng Songcheng, a prominent figure in China's financial landscape, recently provided a comprehensive analysis of the ongoing property market challenges. As per his estimations, the downturn is anticipated to persist for an additional two years before reaching a stable phase.
New-home sales are projected to decline by 50 million square meters annually for both the current and upcoming years, with a predicted plateau in 2025 around 850 million square meters. Sheng optimistically foresees that beyond 2025, the property industry will cease to act as a hindrance to investment and economic growth.