Https Www Reuters Com Markets Asia Chinas Property Investment Falls 102 Yy January July 2024 08 15

China's Property Market Slump Continues

Investment and Sales Decline Sharply

China's property market has experienced a significant downturn in recent months, with investment and sales falling sharply.

In the first seven months of 2024, property investment fell by 102% year-over-year, according to data from the National Bureau of Statistics (NBS).

This follows a 101% decline in the first half of the year and a 62% decline in January-April.

Property sales by floor area also saw a significant drop of 18.6% in January-July compared to the same period last year, after a 19% decline in January-June.

The decline in property investment and sales is a reflection of the broader slowdown in China's economy, which has been impacted by factors such as the COVID-19 pandemic and the ongoing property market crisis.

Factors Contributing to the Slump

• Economic slowdown
• COVID-19 pandemic
• Property market crisis

The property market crisis has been caused by a number of factors, including:

• Overbuilding and excess supply
• Tightened credit conditions
• Government regulations

Impact of the Slump

The slump in the property market is having a number of negative consequences for the Chinese economy:

• Reduced economic growth
• Job losses
• Increased financial risk

The government is taking steps to address the slump, including:

• Easing credit conditions
• Increasing infrastructure spending
• Providing subsidies for homebuyers

Outlook for the Future

The outlook for the Chinese property market is uncertain.

Some analysts believe that the market will continue to decline in the short term, while others believe that it will eventually rebound.

The government's policies will likely play a key role in determining the future direction of the market.

Zawya