2023 China home sales during May Day holiday dropped 47% compared to 2019 pre-pandemic levels by 30%.
China's home sales slumped 47% during the May Day holiday compared to 2023, and dropped 30% from pre-pandemic levels in 2019, according to a private survey. Home sales declined in 19 out of 22 surveyed cities, with Guangzhou and Shanghai experiencing over 60% drops. Despite authorities' efforts to support the sector, analysts argue that many policies have limited, short-term impact.
May 06, 2024
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