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Moody’s Predicts China Home Sales to Dip in Second Half of 2018

In 18 of 70 major Chinese cities, including Beijing (pictured), new home prices edged down in September from the previous month as government controls continued to put pressure on prices. Photo: Visual China
In 18 of 70 major Chinese cities, including Beijing (pictured), new home prices edged down in September from the previous month as government controls continued to put pressure on prices. Photo: Visual China

(Beijing) — Residential property sales will dip in the second half of next year due to prolonged government property restrictions, further straining Chinese property developers, credit ratings firm Moody’s predicted in a report.

“National contracted sales — measured on a 12-month average basis — will likely fall by up to 5% for the second half of 2018, following an estimated growth of 7% to 10% for the full year 2017,” said Kaven Tsang, a Moody’s vice president and senior credit officer.

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