Gate News bot message, in May, China saw the biggest fall in new home prices in seven months, highlighting the reason for senior government officials' renewed commitment to revitalizing the real estate market.
Data released by the National Bureau of Statistics of China on Monday showed that the prices of new commercial residential properties in 70 large and medium-sized cities (excluding affordable housing) decreased by 0.22% month-on-month, and fell by 0.12% month-on-month in April. The prices of second-hand houses fell by 0.5% month-on-month, the largest fall in eight months.
Data shows that the effects of the stimulus plan from last September are fading. Demand for home purchases in China is suppressed, while policymakers are working to revive this demand.
UBS Group analyst Zhang Ning wrote in a report last week: "We expect the downturn in the Chinese real estate market to continue through 2025, but the decline in real estate activity will be smaller than in 2024."
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The speed of the fall in housing prices in China has accelerated, and officials have promised support.
Gate News bot message, in May, China saw the biggest fall in new home prices in seven months, highlighting the reason for senior government officials' renewed commitment to revitalizing the real estate market.
Data released by the National Bureau of Statistics of China on Monday showed that the prices of new commercial residential properties in 70 large and medium-sized cities (excluding affordable housing) decreased by 0.22% month-on-month, and fell by 0.12% month-on-month in April. The prices of second-hand houses fell by 0.5% month-on-month, the largest fall in eight months.
Data shows that the effects of the stimulus plan from last September are fading. Demand for home purchases in China is suppressed, while policymakers are working to revive this demand.
UBS Group analyst Zhang Ning wrote in a report last week: "We expect the downturn in the Chinese real estate market to continue through 2025, but the decline in real estate activity will be smaller than in 2024."
Source: Bloomberg