Chinese housing demand to drop by 50 percent. Bloodbath continues in Chinse stocks.

Sharing is Caring!
  • Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country’s overall growth.
  • That’s according to the International Monetary Fund’s latest staff report on China, completed in late December and released Friday.
  • The prediction for a roughly 50% drop in new housing “overestimates the possible market downturn,” Zhengxin Zhang, China’s representative to the IMF, said in a Jan. 10 statement.
See also  China Surpasses India as Top Consumer of Gold Jewelry: Rising Demand Amidst Economic Uncertainties Signals Shift in Investment Preferences

BEIJING — Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country’s overall growth.

That’s according to the International Monetary Fund’s latest staff report on China, completed in late December and released Friday.

The IMF said it expects “fundamental demand for new housing” in China to fall 35% to 55% due to a decline in new urban households and a large inventory of unfinished or vacant properties.

See also  The US housing market is experiencing a significant downturn

www.cnbc.com/2024/02/02/imf-chinas-new-housing-demand-to-drop-by-50percent-in-the-next-decade.html

Views: 41

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.