The central bank has raised interest rates for 4 times, the economy has slowed down, and the financial situation has tightened, and the real estate market has become more conservative.

(file photo)

[Reporter Chen Meiying/Report from Taipei] The housing market has turned cold!

The central bank announced today that the balance of housing loans and construction loans of Bank of China at the end of November was 9,320.427 billion yuan and 3,838.42 billion yuan respectively, hitting record highs. The annual growth rate of loan financing balance is the lowest since September 2019.

According to the statistics of the central bank, the balance of the Bank of China’s housing loans reached 9.320427 trillion yuan in November, a monthly increase of 51.046 billion yuan, double the monthly increase in October, mainly due to the surge in housing delivery at the end of the year. The expansion trend of the amount is consistent, but the annual growth rate is 7.14%, which is the lowest since August 2010.

Please read on...

Central bank officials said that although there was a so-called housing boom at the end of the year, since the beginning of this year, various ministries will continue to "crack down on real estate speculation." The central bank has raised interest rates four times, the economy has slowed down, and the financial situation has tightened. The housing market has turned conservative.

Judging from the amount of new mortgages undertaken by the five major banks, the fourth quarter of last year was already at a high point.

Looking forward to the housing market next year, public-share banks have a relatively conservative view. They believe that as the government continues to implement measures to improve the housing market and the central bank has raised interest rates four times, the housing market transaction volume will continue to shrink. A director of a public equity bank directly pointed out that the housing prices in the fourth quarter of this year will be the highest point.

Looking at the housing prices of Zhonggu housing based on the Greater Taipei Housing Index published by Xinyi Housing, it has indeed grown from double digits in September to single digits in November.

Since the "Regulations on the Equalization of Land Rights" passed the preliminary review on December 21, pre-sale of houses for house replacement will be prohibited, further cracking down on speculation. Recently, speculators have also "get off the car" early.

The wait-and-see atmosphere in the real estate market has also affected the confidence of builders in project proposals. According to the statistics of the central bank, the balance of construction loan financing at the end of November was 3.83842 trillion yuan, with an annual growth rate of 11.99%, which was a low point in more than three years.

Grasp the pulse of the economy with one hand I subscribe to Free Finance Youtube channel

Already added friends, thank you

Welcome to 【Free Finance】

feel good

Already liked it, thank you.

related news