Housing Prices Fall in China Amid Real Estate Slowdown
- brg_news_room
- 13 minutes ago
- 1 min read
China: Housing prices in China are falling, with new and previously owned homes dropping across major cities. In Beijing, Shanghai, Guangzhou, and Shenzhen, prices fell 0.8%, while 31 large second-tier cities saw a 2% decline, and 35 medium-sized cities dropped 3.4%, according to the National Bureau of Statistics. Previously owned housing prices fell 4.4% in first-tier, 5.2% in second-tier, and 5.7% in third-tier cities, although Shanghai recorded a 5.7% annual increase. The slowdown is affecting the cement and steel sectors, with the central government lowering credit interest rates and minimum down payments, while local authorities introduced measures to boost home sales, though the trend remains weak.
Source: Anadolu Ajansı
