Real Estate
China Home Sales Fall Again as Policy Shifts Fail to Stem Decline
- Beijing, Shanghai have relaxed rules to stimulate demand
- Full-year sales fell 16.5%, worse than earlier estimate
Residential buildings in Shanghai.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
The slide in China’s home sales accelerated in December, underscoring the challenges to arrest the country’s property slump.
The value of new home sales among the 100 biggest real estate companies fell 34.6% from a year earlier to 451.3 billion yuan ($64 billion), compared with a 29.6% decline in November, according to preliminary data from China Real Estate Information Corp. on Sunday.