China home price drops ease as investment slumps

China home prices are expected to fall 3.4 percent this year, a slight improvement from prior forecasts. However, property investment declines are set to deepen significantly.

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FILE PHOTO: A view of unfinished residential buildings developed by China Evergrande Group in the outskirts of Shijiazhuang, Hebei province, China February 1, 2024. REUTERS/Tingshu Wang/File Photo

China home prices are projected to fall 3.4% this year, a marginal revision from the 3.5% drop forecast in May. The updated figures reflect persistent weakness across the broader property sector. The ongoing downturn continues to weigh heavily on the wider economy despite targeted intervention.

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