China’s real estate market remains in a slump as house prices continued their downward trajectory in August 2024. According to the latest data updated on September 14, 2024, house prices in China fell by 5.3% compared to the same period last year.This marks a further decline from the previous month, where house prices were already down by 5.0% in July 2024, indicating a worsening trend in the market. The negative figures underscore the ongoing challenges faced by China’s housing sector, which have been exacerbated by a series of economic headwinds.The year-over-year comparison highlights the severity of the situation, with the August decline being slightly steeper than the July drop-off. Analysts are keeping a close watch to see if this downward trend will persist and what measures, if any, Beijing may take to stabilize the housing market.The material has been provided by InstaForex Company – www.instaforex.com
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