Home prices in China declined by 2.3% year-on-year in 2022, a report shows, Invest-Gate reports.
Month-on-month, prices edged lower by 0.25%, marking the 16th monthly decline in a row.
The latest decline comes after weeks of announcing a plan by policymakers to revive the market.
Prices of existing housing units slipped 0.48% YoY in December, which is higher than a 0.44% YoY decline recorded in November.
Home prices are expected to continue declining in 2023 in 100 Chinese cities, according to a survey by China Index Holdings conducted on potential buyers.