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.
