Chinese property broker Beike expects housing demand to decline domestically over the next decade. Pictured here on June 28, 2022, is a new commercial residential complex in Nanning, Guangxi Zhuang Autonomous Region, China.
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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’s research arm 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…