Caixin
Oct 12, 2022 04:56 AM
ECONOMY

No Relief for China’s Ailing Housing Market

China’s housing market has been contracting since last year amid a cash crunch facing developers and slumping sales attributed to continuing Covid lockdowns
China’s housing market has been contracting since last year amid a cash crunch facing developers and slumping sales attributed to continuing Covid lockdowns

What’s new: China’s property market showed little sign of revival as housing prices in most cities continued sliding, according to data from Shanghai E-House Real Estate Research Institute.

Among 50 cities tracked by Shanghai E-House, housing prices in only four returned to growth — including Chengdu, Beijing, Shanghai and Hefei — following declines lasting two to 12 months, according to a Monday report. Housing prices in the 46 other cities remained on a downward slope as 36 of the municipalities recorded more than a year of decreases, according to the report.

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