70 China cities' home prices stabilized, with first-tier cities seeing a 0.5% decline and ongoing market efforts.
In September, China's commercial residential home prices showed signs of stabilization in 70 major cities, according to the National Bureau of Statistics. First-tier cities like Beijing and Shanghai experienced a 0.5% decline in new home prices, while second- and third-tier cities saw a 0.7% drop. Despite ongoing efforts to stimulate the market, such as lowering mortgage rates, home prices have continued to decline, marking the 15th consecutive monthly decrease.
October 18, 2024
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