July 14, 2022

BEIJING — China’s massive residential real estate market is only going to see demand drop over the next 15 years, sales and rental giant Beike predicts.

New demand for housing by floorspace is set to drop by 2.5% a year between 2021 and 2035, the company said in a report shared with CNBC. Beike owns and operates Lianjia, one of China’s largest housing brokerages.

The primary reason for the decline is China’s aging population, according to the report.

Read more:

https://www.cnbc.com/2022/07/15/chinas-housing-demand-set-to-drop-real-estate-broker-predicts.html