Real Estate
China’s Home Prices Drop at Faster Pace in Blow to Sentiment
- Housing slump persists despite recent policy stimulus measures
- Property giant Country Garden has signaled likely default
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China home prices fell at the fastest pace in almost a year in September, adding to doubts over whether Beijing’s steps to prop up the property market are enough to revive the sector.
New-home prices in 70 cities, excluding state-subsidized housing, declined 0.3% last month from August, when they slipped 0.29%, National Bureau of Statistics figures showed Thursday. That was the steepest month-on-month decline since October 2022.