Home prices in China Shrink 2.3% YoY in 2022

Home prices in China Shrink 2.3% YoY in 2022

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.

 

 

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