Caixin
Jan 06, 2022 09:22 PM
ECONOMY

China’s Property Market Set for Gloomy Year After 2021 Ends in a Funk

Photo: VCG
Photo: VCG

China’s property sector, traditionally a key driver of the country’s economic growth, had a rollercoaster year in 2021 as a booming performance in the first half turned into a slump triggered by the debt crisis at China Evergrande Group and regulatory curbs on borrowing. Analysts expect housing sales to continue falling this year and foresee more debt defaults by developers, which could become a drag on GDP.

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