China’s Housing Slump Is Much Worse Than Official Data Shows
- Property values show variance between agents, official data
- Uncertainty over data could have implications for policy
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Judging by China’s official statistics, the nation’s housing market has been remarkably resilient in the face of tepid economic growth and record defaults by developers.
New-home prices have slipped just 2.4% from a high in August 2021, government figures show, while those for existing homes have dropped 6%.