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China’s Home Price Slump Reaches a Year as Crisis Drags On

  • Declines deepened in August despite measures to revive demand
  • More needs to be done to restore homebuyer confidence: analyst
Evergrande Development In Beijing As China Developer Bond Rally Is Fading on Policy Disappointment

Source: Bloomberg

Updated on

China’s home prices slid at a faster pace in August, marking a 12th month of declines, underscoring how a revival of the country’s real estate market could take much longer despite a flurry of government support policies.  

New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.29% last month from July, when they fell 0.11%, National Bureau of Statistics figures showed. From a year earlier, prices dropped 2.1%, the most in seven years.