China's New Home Prices Fall for Fifth Month Despite Stimulus Measures

Beijing and Shanghai introduce measures to stimulate housing market, but property sales, investment, and home prices continue to decline.

China's new home prices fell for the fifth consecutive month in November, with 59 out of 70 cities posting declines.
Beijing and Shanghai have introduced measures to stimulate the housing market, including reducing down payment ratios and extending deadlines for mortgage repayments.
Despite these measures, the property market has not seen a significant rebound, with property sales, investment, and home prices continuing to decline.
Fitch Ratings predicts that home prices in China will fall by up to 7% over the next year, with the decline continuing into 2025.
China's top leaders have pledged to speed up the establishment of a new model of property development and to quicken the construction of affordable housing.