China's property investment fell 9% YoY in Jan-Feb 2024, up from 24% in Dec 2023, despite government measures.
China's property investment fell 9% year-on-year in January-February 2024, down from a 24% decline in December 2023, according to the National Bureau of Statistics. Property sales by floor area saw a 20.5% decrease in January-February compared to the previous year, down from a 23% fall in December 2023. Despite government efforts, including a "whitelist" mechanism and an increase in the benchmark mortgage rate, market participants remain uncertain, with household loans contracting and new construction starts plummeting.
March 18, 2024
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