Since 2000, a majority of Chinese home sales occurred post-2015; 38% post-2018, with falling prices.

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  • High Volume of Recent Sales: Since 2000, a large proportion of residential property sales in China have taken place in recent years:
    • 56% of all sales occurred after 2015.
    • 38% of all sales occurred after 2018.
  • Falling Property Prices: Second-hand property prices have fallen back to their 2018 levels.
  • Potential Negative Equity: Due to the drop in property prices, nearly 40% of homeowners who bought properties after 2018 may now owe more on their mortgages than their properties are worth (referred to as being “underwater” on their mortgages).
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This situation is concerning because a significant portion of homeowners might face financial difficulties if their property values remain below the amount they owe on their mortgages.

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