Bloomberg (June 17)
2024/ 06/ 18 by jd in Global News
“China’s home prices fell at a faster pace in May, as the country’s most forceful efforts to support the property market took time to revive demand.” Existing home values dropped by 1%, “the sharpest decline since at least 2011.” Oversupply is “dragging prices lower, giving people less reason to invest in property.” Meanwhile, “investors and analysts remain skeptical” that the government’s recent measures to revive the sector “will be sufficient” given the “funding revealed so far and the slow progress of existing trial programs in several cities.”
Tags: 2011, Analysts, China, Decline, Existing homes, Home prices, Investors, Lower, May, Oversupply, Prices, Property, Skeptical
