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New home prices in 70 major cities fell by 0.1% in September from a year ... in the housing market is hobbling China’s economic recovery. ... downgraded China’s growth forecast to 5% for 2023 ...
The five-year housing market outlook, according to industry experts. ... Housing market predictions: The forecast for the next 5 years. Dina Cheney. August 12, 2024 at 3:00 PM.
As of 2010, China's real estate market is the largest in the world. [7] [8] According to Bloomberg Economics estimates, the sector contributed to about 20% of China's GDP in 2023, [9] down from a peak of 24% in 2018. [10] As of 2023, real property accounts for 60% of Chinese household assets. [5]: 161
The International Monetary Fund (IMF) warned of a possible decline in China's property market. In a 2024 report, the IMF forecasted China's growth at 4.8 percent for the year, which is 0.2 percentage points lower than its July estimate. For 2025, growth is expected to be 4.5 percent. [115]
The housing market has been rapidly evolving. Home prices surged in 2020 as mortgage rates plummeted, and over the past couple of years, we've seen a slight cooling of the market as mortgage rates...
Construction of urban housing was a major undertaking. The country has shown a major shift in allocating funds and resources to housing their people, building over 5.5 million apartments between the years of 2003 and 2014 in China's cities. These construction projects assigned by the state influence the construction job market in China as well.
Swann, Nancy Lee (1974), Food & Money in Ancient China: The Earliest Economic History of China to A.D. 25, New York: Octagon Books, ISBN 0374962022. Tom, K. S. (1989), Echoes from Old China: Life, Legends, and Lore of the Middle Kingdom, Honolulu: The Hawaii Chinese History Center of the University of Hawaii Press, ISBN 978-0-8248-1285-0.
China's blue-chip CSI 300 index rose 2% and the yuan firmed following the report. The property sector has been in a deep slump for years hit by a debt crisis among developers.