Reported 12 months ago
Chinese developers are facing challenges in selling new homes despite a rebound in second-hand transactions in major cities like Shenzhen and Beijing. The sales of new properties in these cities have underperformed compared to existing ones, with buyers showing a preference for cheaper, used dwellings in urban areas. This discrepancy in sales is impacting China's economic recovery, with economists expecting the government to introduce new measures to support the real estate market. While new home sales struggle, the recovery in second-hand home sales is providing some relief for owners looking to sell.
Source: YAHOO