Once back to 5 years ago! House prices in Beihai and Xishuangbanna plummeted. Can local developers still insist?

The impact of COVID-19 epidemic on tourism is enormous.

Since COVID-19 broke out in China in 2020, the COVID-19 epidemic has persisted in our society. Although China has formulated perfect epidemic prevention policies and measures, and developed COVID-19 vaccine urgently, COVID-19 is too contagious and mutates too fast, which has caused the COVID-19 epidemic to still exist, seriously affecting all walks of life in China. Among them, tourism is the most affected by COVID-19, so the number of tourists in many tourist cities in China has dropped significantly. Even in the tourist season, there will be few tourists, so the house prices in tourist cities will also be greatly reduced.

Many real estate developers are losing money.

Due to the impact of the COVID-19 epidemic and the gradual decline of the international economic situation, the real estate environment in China is very pessimistic, and the house prices in many cities have fallen sharply. House prices in many tourist cities have become very high because of tourism. However, with the stagnation of tourism, housing prices in tourist cities have also shrunk dramatically, and many real estate developers in tourist cities are in a state of loss, and the current situation of continuous decline in housing prices cannot be changed in the short term.

It will take a long time for the real estate industry to pick up.

Because the COVID-19 epidemic is still difficult to solve in a short time, the tourism industry will always be in a downturn, which also leads to the real estate industry in tourist cities will always be in a downturn; However, with the continuous recovery of China's economy, the real estate industry in China may usher in a small-scale recovery in a few years, but it may be difficult for the real estate industry in tourist cities to improve in the next decade; However, with the deepening of China's research on COVID-19, China is likely to completely end the COVID-19 epidemic in the future, and the real estate in tourist cities will heat up again.