China’s Developers See Little Change in Fortune Over New Year Holiday

What’s new: China’s real estate market remained sluggish during the weeklong Lunar New Year holiday as developers and homebuyers responded without much enthusiasm to the recent easing of financing policies, property analysts said.

By floor space, new home sales in 40 surveyed cities fell 40% during the seven days through Sunday, compared with the holiday period in 2021, according to a Tuesday report by property think tank China Real Estate Information Corp. (CRIC).