China’s home prices fell at a faster pace in December, according to a private survey on Sunday, reflecting persistently weak demand amid rising COVID-19 cases despite a slew of support measures, reports the South China Morning Post.
China’s property market crisis worsened this summer, with official data showing home prices, sales and investment all falling in recent months, adding pressure on the faltering economy.
Home prices in 100 cities fell for the sixth month in a row in December, declining 0.08% from a month earlier after falling 0.06% in November, according to the survey by China Index Academy (CIA), one of the country’s largest independent real estate research firms.