News Analysis
Despite the ruling Chinese Communist Party’s (CCP’s) recent bailouts, the decline in China’s real estate market persists, marked by a continuous drop in home prices in first-tier cities, according to the latest data.
Home Price Slump Deepens in China’s 1st-Tier Megacities
Home prices in Beijing, Shanghai, Guangzhou, and Shenzhen plunged by double-digit percentage points year-on-year.
Buildings of China's developer Country Garden Holdings in Suqian, in China's eastern Jiangsu Province, on Oct. 18, 2023. STR/AFP via Getty Images
Shawn Lin is a Chinese expatriate living in New Zealand. He has contributed to The Epoch Times since 2009, with a focus on China-related topics.
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