China's housing price in October will have the largest decline in eight years in October, indicating the foreshadDespite the government's implementation measures to boost real estate demand, the Chinese property market continues to be sluggish.
The data released by the National Bureau of Statistics of China on Thursday (November 16) shows that in October, 70 large and medium cities (excluding affordable housing) new commercial housing prices decreased by 0.38%month -on -month;0.30%.China's housing prices in October were the largest since February 2015.
According to Bloomberg, the decline further shows that the Chinese real estate market continues to slump.Previously, official data this week showed that the degree of atrophy of sales and real estate investment has increased.Since August, the new booster measures launched in major cities have had little effect, which has affected the recovery of China's economy.
Chen Wenjing, director of market research director of the middle finger research institute, said that earlier this year, the Chinese real estate market reappeared after the epidemic.Buyers are discouraged.
According to data from the National Bureau of Statistics of China, the price of second -hand housing fell 0.58%, the largest decline since October 2014.
Bloomberg reported this week that the Chinese government is reported to launch the specific implementation plan of the "three major projects" as soon as this month. To this endIn the same way, about S $ 191.5 billion), it is expected to help stable real estate markets.
Although the details of the new plan are still unclear, some economists say that its effect may not be as good as previous efforts.The new plan will be mainly concentrated in some largest metropolitan areas, rather than the most severe low -line cities.
