Reported 25 days ago
In August, China's new home prices fell by 5.3% year-on-year, marking the steepest decline since May 2015, as the property sector continues to struggle with high developer debt and low buyer confidence. Monthly, prices have decreased for the fourteenth consecutive month, prompting economists to forecast further declines in property prices through 2025. Despite government efforts to rejuvenate the market, including mortgage rate reductions, challenges persist in balancing demand and supply, particularly in smaller cities.
Source: YAHOO