The National Bureau of Statistics reported that 49 cities faced month-over-month price drops, mirroring the tally from the previous month. On an annual basis, the decline slowed to 3.0% in September from 3.3% in August, while the number of cities reporting year-on-year decreases fell from 65 to 64. These figures signal a potential bottoming out in price volatility, even if the underlying market remains fragile.
In section Market Quotes
China's Property Market Shows Signs of Cooling Price Declines
A marginal improvement in housing costs across 70 major Chinese cities suggests that state-led interventions are beginning to gain traction. Prices dipped 0.14% in September, a slight recovery from the 0.17% slide recorded in August, as Beijing intensifies efforts to stabilize a sector long plagued by stagnation and buyer hesitation.
Despite the stabilization in pricing, broader indicators highlight deep-seated structural challenges. Property investment fell 20.6% during the first nine months of the year, a steeper decline than the 19.9% drop observed through August. Simultaneously, home sales slipped 13.7% over the same nine-month period, and new construction starts contracted by 24.9%. These metrics underscore the widening gap between state efforts to hold price floors and the persistent contraction in developer activity and consumer demand.
Comments (0)
No comments yet. Be the first!