(ECNS) -- More than half of China's homes have been purchased by the post-80s from 2011 to 2015, with housing improvement demands set to increasingly contribute to sales in the next five years, said a senior researcher.
Qin Hong, director of policy research at the Ministry of Housing and Urban-Rural Development, made the statement during a speech on the outlook of property investment for the 13th Five-Year (2016-20) meeting in Beijing on December 25.
About 50-60 percent of homes on the market were sold to the post-80s in the 12th Five-Year (2011-2015) period, during which the country's housing market was mainly bolstered by rigid demand due to the demographic factor, she said.
However, the number of Chinese aged 20-29 is on the decline and will continue to fall in the coming years, therefore, the majority of housing demand will gradually shift from rigid demand to housing improvement needs, Qin explained, adding that the government's move to allow a second child for all families will also contribute to the rise of such demand.
Accordingly, property companies will see more mergers and acquisitions in the years to come while the second-hand housing market will continue to expand and offer new opportunities.
Securitized products will become the mainstream of property investments, while innovation and transformation will be spotlit in the next five years, it was added.
