Men work at the construction site of an apartment building in Beijing, China , on Jul 29, 2023. BEIJING : China 's home prices will fall at a faster pace this year with worsening slumps in property investment and sales, a Reuters poll showed, a sombre reminder to policymakers as they redouble efforts to revive the crisis-hit property sector.
The poll was conducted between May 10 and May 17, and is likely to have only partially taken into consideration Friday's government announcement of support measures to stabilise the property market. However, questions remain about the latest measures, especially over execution and how the government could help clear trillions of housing inventory.
The poll showed property sales likely shrank 10.0 per cent in 2024, steeper than the 5.0 per cent slump forecast in the previous survey, while investment was expected to fall 10.0 per cent from the 6.1 per cent decline tipped in the earlier poll.
Source: News Formal (newsformal.com)
Housing
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