China plans to intensify efforts in 2025 to stabilize its housing market, addressing challenges in the real estate sector, including the rising demand for affordable housing and urban renovations.
According to a recent work conference by China's housing regulator, the government will continue reforms to stabilize the real estate market and prevent further declines.
Key initiatives include expanding urban village renovations and strictly controlling commercial housing supply while boosting affordable housing options. These measures aim to address the needs of new citizens, young people, and migrant workers.
Policymakers have already implemented strategies since September to revive home demand, such as cutting mortgage rates, reducing down payments, and offering tax incentives.
As a result, the real estate market has shown signs of recovery, with home transactions experiencing growth in October and November. The slow pace of falling home prices marks a positive shift for the industry heading into 2025.
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Israeli military bulldozers have begun demolishing buildings in the West Bank city of Hebron on Friday, 23 October, following armed clashes with Palestinians that left two Israeli soldiers dead, according to the Israeli military.
Saudi Aramco has ordered staff to evacuate its headquarters amid escalating Houthi attacks on the kingdom. Two people were killed in an attack on Dammam airport, while Iran's IRGC Navy claimed strikes on seven vessels and warned the U.S. of a wider response.
Russian strikes on Ukraine overnight killed at least two people and injured 15 others, including two children, Ukrainian authorities said. Meanwhile, Russia said it had intercepted the vast majority of 630 Ukrainian drones launched towards Moscow.
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