BEIJING – China’s new home prices fell at the fastest pace in more than nine years in August, official data showed on Saturday, as supportive measures failed to spur a meaningful recovery in the property sector.
New home prices were down 5.3% from a year earlier, the fastest pace since May 2015, compared with a 4.9% slide in July, according to Reuters calculations based on National Bureau of Statistics (NBS) data.
In monthly terms, new home prices fell for the fourteenth straight month, down 0.7%, matching a dip in July.
anantsharma2626 on
So the real estate industry is starting to crumble in China, I am going to go on a limb here and say that this gives China more of an incentive to soft invade Taiwan and capitalize on the semi-conductor industry
-kay-o- on
Isnt this a good thing. Houses should not be an investment.
Aleyla on
Home prices falling down almost as fast as their very empty high rise condos.
findingmike on
I wonder if Chinese people will need to sell assets around the world to cover costs. We could see real estate prices fall in Canada and the US.
Suitable-Ratio on
Honestly I cannot believe it took this long. Feels like there will be five dead cat bounces on the way to the bottom.
6 Comments
BEIJING – China’s new home prices fell at the fastest pace in more than nine years in August, official data showed on Saturday, as supportive measures failed to spur a meaningful recovery in the property sector.
New home prices were down 5.3% from a year earlier, the fastest pace since May 2015, compared with a 4.9% slide in July, according to Reuters calculations based on National Bureau of Statistics (NBS) data.
In monthly terms, new home prices fell for the fourteenth straight month, down 0.7%, matching a dip in July.
So the real estate industry is starting to crumble in China, I am going to go on a limb here and say that this gives China more of an incentive to soft invade Taiwan and capitalize on the semi-conductor industry
Isnt this a good thing. Houses should not be an investment.
Home prices falling down almost as fast as their very empty high rise condos.
I wonder if Chinese people will need to sell assets around the world to cover costs. We could see real estate prices fall in Canada and the US.
Honestly I cannot believe it took this long. Feels like there will be five dead cat bounces on the way to the bottom.