China’s home prices fell at a sharp pace in December, reflecting continued weak demand amid rising COVID-19 cases despite a number of support measures, according to a private survey on Sunday.
China’s property market crisis has worsened this summer, with official data showing home prices, sales and investment have been falling in recent months, adding to the pressure on the faltering economy.
Home prices in 100 cities fell for a sixth consecutive month in December, according to a survey by the China Index Academy (CIA), one of the country’s largest independent real estate agents, after falling 0.06% in November to 0.08% from a month earlier. % fell. research firm.
The survey showed that 68 out of 100 cities reported a monthly drop in prices, compared to 57 in November.
China has increased support for the industry in recent weeks to address a long-standing liquidity crunch that has hit developers and delayed completion of many housing projects, reducing buyer confidence Is. The move includes banning fundraising through equity offerings for listed property firms.
