Money

China’s property market woes set to worsen this year

Published

4 years ago

May 24, 2022

China’s property market woes are set to worsen this year with prices remaining flat

Since the beginning of the year, over 100 cities have taken steps to boost demand by cutting mortgage rates and subsidies.

Sales and investment are also falling further, while tighter COVID-19 measures are hitting the supply chain.

Average home prices are also expected to fall by 1.3 per cent in the first half but forecasts are bleak for the remainder of this year.

It comes as authorities recently cut mortgage loan interest rates for some home buyers, in a push to prop up its property market.

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Costa Haritos

Costa is a news producer at ticker NEWS. He has previously worked as a regional journalist at the Southern Highlands Express newspaper. He also has several years' experience in the fire and emergency services sector, where he has worked with researchers, policymakers and local communities. He has also worked at the Seven Network during their Olympic Games coverage and in the ABC Melbourne newsroom. He also holds a Bachelor of Arts (Professional), with expertise in journalism, politics and international relations. His other interests include colonial legacies in the Pacific, counter-terrorism, aviation and travel.