Chinese house prices fall in January for second consecutive month, down 5% year-on-year compared to 5.3% previously

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Chinese house prices fall in January for second consecutive month, down 5% year-on-year compared to 5.3% previously

The Corner Norbolsa | New housing prices in China stagnated in January for the second consecutive month, with an annual fall of 5% compared to 5.3% previously. The number of unsold new homes increased by 16.2%, reaching 390.88 million m², and new projects fell by 23% in 2023. In the secondary market, prices fell 30% from their peak, with annual declines of 5.6% (first-tier cities), 6.0% (second-tier) and 8.2% (third-tier), representing 59%...