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Anonymous

Hey I am on Medial • 6m

China's new home prices have experienced a significant decline, with June 2024 marking the steepest drop in nine years—a 4.5% year-on-year fall, the largest since June 2015. Despite multiple government interventions, the property market remains under pressure, with prices continuing to fall for several months in a row, signaling an extended downturn. The Chinese government has introduced several strategies to stabilize the market, including: 👉 Urging local governments to purchase unsold homes and convert them into affordable housing. 👉 Providing loans through the People's Bank of China (PBOC) to support these purchases, with 300 billion yuan ($41.5 billion) allocated for this purpose. 👉 Adjusting mortgage rates, lowering down-payment requirements, and easing other purchasing rules to boost demand.

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Replies (2)

Anonymous 1

Hey I am on Medial • 6m

China's property market tanking is not a surprise, honestly. They’ve been riding that real estate bubble for too long. The government trying to save it with $41 billion is like slapping a Band-Aid on a gaping wound

0 replies

Nawal

Hope , I can Help yo... • 6m

Yup, It's real estate bubble building from past 5 - 9 years

0 replies

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