China’s home prices fall at fastest pace in nearly a decade

Transcript

00:00China's new home prices experienced the fastest decline in over nine and a half years

00:05in May, indicating ongoing struggles in the property sector despite government intervention.

00:11The prices dropped by 0.7 percent month-on-month, the steepest since October 2014, and were

00:18down 3.9 percent annually.

00:20Efforts to support debt-laden developers and address oversupply issues have limited impact,

00:26with analysts expressing concerns about the effectiveness of recent policies.

00:31The property market is facing challenges with a divergence between large cities, where sales

00:37are being driven by existing homeowners and smaller cities experiencing continued decline

00:43due to oversupply and population outflows.