China New Home Prices Fall Further in January as Property Demand Weakens
China’s new home prices continued to decline in January, according to official data released on Friday. The figures highlight ongoing weakness in the country’s property market and add further pressure on cash-strapped real estate developers.
Data from the National Bureau of Statistics showed that new home prices fell 0.4% month-on-month, matching the pace of decline recorded in December.
On a yearly basis, the slowdown intensified. New home prices dropped 3.1% compared with a year earlier, accelerating from a 2.7% annual fall in the previous month. This marks the steepest year-on-year decline in seven months.
The latest figures underscore persistent softness in housing demand, raising concerns about the stability of China’s real estate sector and its broader impact on economic growth.
