China Home Prices Show Signs of Stabilization After 17-Month Decline
Friday, 15 November 2024, 03:41
China Home Prices Experience Slowdown in Decline
In October, China home prices fell for the 17th month, but the decline has slowed to a mere 0.5% from September, marking the smallest drop in seven months. This trend indicates potential stabilization in the housing market after a series of support measures.
Highlighted Trends Across Major Cities
- In tier-1 cities like Beijing, Shanghai, Guangzhou, and Shenzhen, prices fell just 0.2% month-on-month, showing improvement.
- Tier-2 cities, including Tianjin, experienced a similar trend where a 0.5% drop was noted in new home prices.
- Seven cities saw increases in new home prices, a positive shift from previous months.
Impact of Support Measures
Beijing's recent measures, including mortgage rate cuts and lowered down payments, have influenced market conditions. According to Moody’s, these actions may eventually lead to a marginal increase in home prices.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.