China Home Prices Remain Weak, Weighing on Economic Growth
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20 hours ago
1 min read
CHINA: China’s housing market continued to face pressure in August, with new home prices declining 0.1% month-on-month, marking a third consecutive monthly fall. The annual decline narrowed to 3.0% from 3.2% in July, while prices in tier-one cities increased 0.1%, contrasting with declines in tier-two and tier-three markets. Despite signs of stabilisation in major cities, a broad-based recovery remains unlikely in the near term. Weak property sales, investment and construction activity continue to weigh on domestic demand and local government revenues. Recent government measures, including changes to home sales and longer mortgage terms, are expected to provide limited short-term support to housing demand.
Source: Reuters
