Real Estate
China Home Prices Drop Accelerates as Stimulus Effects Fade
- Beijing is struggling to contain a property downturn
- Homebuyers in China are anticipating more price declines
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China’s home prices fell at a slightly faster pace in August, underscoring the waning effect of the latest housing rescue plan.
New-home prices in 70 cities, excluding state-subsidized housing, dropped 0.73% from July, following a 0.65% decline a month earlier, National Bureau of Statistics figures showed Saturday. Values of used homes fell 0.95%, compared with a 0.8% decline a month earlier.