China new home prices fall 0.2% m/m in September
2022.10.23 22:47
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© Reuters. FILE PHOTO: Residential buildings are pictured near a construction site in Beijing, China April 14, 2022. Picture taken April 14, 2022. REUTERS/Tingshu Wang
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BEIJING (Reuters) – China’s new home prices fell in September as its property sector is grappled with a mortgage boycott, a heightened debt crisis and COVID restrictions that dimmed the economic outlook.
New home prices in September fell 0.2% month-on-month from a 0.3% drop in August, according to Reuters calculations based on National Bureau of Statistics (NBS) data released on Monday.
New home prices in September declined 1.5% year-on-year, compared with a 1.3% decline in August.
China has rolled out a flurry of policies to revive the embattled sector, including relaxing on mortgage rates and refunding individual income tax for some home buyers.
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