China’s resale home prices fell at an accelerated pace in June, deepening concerns about the country’s ailing property market and underscoring the limited impact of recent government support measures, a private survey showed on Tuesday.
According to the China Index Academy, one of the country’s top real estate research firms, resale home prices declined by 0.75% in June, compared to a 0.71% drop in May. On a year-on-year basis, prices fell 7.26%, marking a slight deepening of the 7.24% annual decline recorded in the previous month.
The data reflects persistent structural weaknesses in the sector, which has remained under pressure since 2021 when regulators moved to curb excessive borrowing by property developers. The resulting liquidity crisis among major firms led to a wave of unfinished housing projects, sharp declines in sales, and a rise in defaults.
New home prices, meanwhile, increased at a slower rate in June, rising by just 0.19% after a 0.30% gain in May, the survey showed.
“The real estate market is still in the process of adjustment... a market stabilisation and recovery still require further policy efforts,” the China Index Academy said in its report.
Despite interest rate cuts and incentives for homebuyers, confidence remains weak among consumers wary of incomplete projects and volatile pricing. In addition, an oversupply of housing in certain cities has further diluted the impact of stimulus efforts.
A recent report from Goldman Sachs projected that new home demand in China may drop to fewer than 5 million units annually—down significantly from the peak of 20 million units in 2017.
In response, Chinese officials have pledged further action. At a cabinet meeting last month, senior leaders committed to optimizing policies to boost housing demand, improve supply mechanisms, and stabilize the broader real estate market.
Still, the latest figures suggest that more aggressive and targeted measures may be needed to reverse the downturn in a sector long considered a pillar of China’s economy.
Direct communication between senior U.S. and Iranian officials has broken down as tensions rise over Tehran’s crackdown on protests and fears of U.S...
Danish Foreign Minister Lars Løkke Rasmussen said on Wednesday that Denmark was unable to change the U.S. position on Greenland after talks with Amer...
Denmark says deep differences with the United States remain over Greenland’s future, despite what officials described as frank but constructive talk...
Georgia’s decision to indefinitely suspend the Anaklia deep-water port project has stripped the country of a historic chance to become a key link in...
The United Kingdom and the United States are withdrawing military personnel from bases in the Middle East as tensions with Iran rise, following Tehran...
Danish Foreign Minister Lars Løkke Rasmussen said on Wednesday that Denmark was unable to change the U.S. position on Greenland after talks with American officials in Washington.
As tensions between Iran and the U.S. persist, authorities in Tehran are facing another problem—this time at home.
The United Kingdom and the United States are withdrawing military personnel from bases in the Middle East as tensions with Iran rise, following Tehran’s warning to regional allies that it would target U.S. bases if Washington takes military action.
Germany’s finance minister has urged a new era of “European patriotism” to protect the continent’s economic interests, calling for state-backed companies to retain jobs in Europe and for public spending to prioritise European-made goods.
The Trump administration will suspend all visa processing for visitors from 75 countries beginning 21 January 2026, according to a State Department memo reported by media.
The U.S. has issued an urgent security notice calling all American citizens to leave Iran immediately, citing escalating protests, growing violence and widespread communication shutdowns across the country.
President Donald Trump said on Monday any country that does business with Iran will face a tariff rate of 25% on trade with the U.S., as Washington weighs a response to the situation in Iran which is seeing its biggest anti-government protests in years.
Apple will use Google’s Gemini artificial intelligence (AI) models for its revamped Siri voice assistant later this year, in a multi-year deal that strengthens the tech giants’ partnership and boosts Alphabet’s position in the race against OpenAI.
Israel and Arab States have urged the U.S. to delay any potential military action against Iran, warning that such a move could undermine ongoing protests inside the country, according to NBC News.
Georgia’s decision to indefinitely suspend the Anaklia deep-water port project has stripped the country of a historic chance to become a key link in global trade routes, according to the Transport Corridor Research Center (TCRC).
Saudi Arabia has informed Iran that it will not allow its territory or airspace to be used for any military action against Tehran, according to two sources close to the kingdom’s government cited by AFP.
Iran’s chief justice Gholam Hossein Mohseni Ejei has urged rapid trials for detainees accused of violent acts, warning that delays reduce the impact of judicial action.
Baku is set to host its first international conference examining India’s policies towards ethnic and religious minorities, with a particular focus on the Sikh community.
Hamas is set to cede power in Gaza, as a U.S.-backed Palestinian committee prepares to take over the administration of the territory, Palestinian sources reported.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment