China’s central bank is continuing its monetary easing policy in 2023 in a bid to stimulate consumption to boost the economy and stabilize the property market, but the real estate market is still falling in most cities. At the same time, data in January showed a continued rise in the country’s infrastructure spending plus a trend among the Chinese population to save money, which means that fewer people are willing to spend money on real estate given the current economic environment.
The mortgage rate for first-time homebuyers in China dropped again in many parts of the country at the start of 2023, and the spread between existing and new mortgage rates continues to widen.
