House prices in China fall sharply

VTV.vn - New home prices in China fell 0.4% in September, the sharpest decline in nearly a year, showing that the real estate market is still plunging despite many support measures.

Unfinished apartment projects in Nanjing city, Jiangsu province, China. Photo: Getty Images

The world's second-largest economy, China, continues to face major challenges in reviving its real estate market, as new home prices in the country continued to fall 0.4% in September - the sharpest decline in 11 months, according to data from the National Bureau of Statistics of China.

New home prices also fell 2.2% year-on-year, although the decline narrowed in August. New home prices fell in 63 of the 70 cities surveyed, while resale prices also fell, especially in second- and third-tier cities. This shows that despite easing measures in many localities, China's housing market is still weak.

Many experts say that the country's authorities need to introduce stronger support policies to help the real estate sector overcome the current frozen period.

Once a key driver of economic growth in China, the property sector has become a significant drag. Over the past two years, Chinese authorities have repeatedly pledged to stabilize the property market and rolled out a range of policies, including mortgage rate cuts and a campaign to accelerate urban redevelopment. However, the market remains weak, and analysts warn it could take a year or more for home prices and investment to recover.

The persistent weakness in the property market is affecting consumer confidence and reducing household spending, prompting policymakers to step up support to shore up growth amid global trade threats. As the property crisis has dragged on for years, many households have lost their “savings” from real estate. The tightening of spending by people has caused China’s retail sales to grow by only about 3% in September 2025 – the smallest increase since November 2024. Meanwhile, overall investment activity in the economy has suddenly fallen into a state of contraction.

Source: https://vtv.vn/gia-nha-tai-trung-quoc-giam-manh-100251021103032272.htm