The once popular housing market in the area around Beijing, known as “suburban Beijing housing,” continues to decline, posing a headache for homeowners. Previously, suburban Beijing housing was in high demand, serving as a landing spot for countless individuals moving to Beijing. Slogans like “The charming suburbs of Beijing, yearning for the beautiful Langfang” and “One Beijing, four Peacock Cities” deeply resonated with many aspiring Beijing residents. The “four peacock cities” refer to the development of four new urban areas around Beijing, with their planned modern infrastructure and amenities. These areas are intended to alleviate population pressure in the capital city by providing housing and employment opportunities in surrounding regions. Therefore, the real estate market in suburban Beijing gained favor among investors.
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Housing Prices in China Drop 90%, ‘Surrounding Beijing’ Homes Remain Unsold Even When Offered Free
