China's Housing Market Faces Significant Price Decline Despite Government Support
Monday, 17 June 2024, 05:32
China's Housing Market Update
In May, the prices of new homes in 70 major cities in China experienced a notable 0.7% month-on-month decrease, marking the steepest decline in nearly a decade. This decline is the most substantial since October 2014 when prices dropped by 0.8% according to official data.
Government Support Efforts
Despite the government's measures to support the market, the downward trend persists, reflecting a challenging situation for the housing sector.
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