China House Prices Fall Further On Subdued Demand

RTTNews | Pred 959 dňami
China House Prices Fall Further On Subdued Demand

(RTTNews) - China's average new home prices declined further at the end of the year amid lower demand as well as tight financial conditions at developers' side amid ongoing pandemic woes, reports said Monday, citing data from the National Bureau of Statistics.

New house prices in 70 large and medium sized cities fell 1.5 percent year-over-year in December, following a 1.6 percent decrease in the prior month. 

Nonetheless, as a result of the country's easing anti-COVID measures, the rate of decline improved slightly.

Despite the signs of recovery, the property market remains uneven and more supportive policies are needed to restore sentiment, analysts said.

On a monthly basis, house prices dropped at a steady rate of 0.2 percent in December.

New home prices declined in 55 out of 70 cities in December, four more than in November, the NBS said in a statement.

Last year, some buyers boycotted mortgages due to as debt-ridden developers failed to complete stalled projects.

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