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China New Home Prices Decline in February
Slight Monthly Decline Amid Market Struggles
China’s new home prices dropped by 0.1% in February, according to official data released on Monday. Despite government promises of more stimulus measures, demand in the crisis-hit property sector remains weak.
Year-on-Year Price Drop Slows Slightly
Compared to the previous year, new home prices fell 4.8%, a slight improvement from the 5.0% decline recorded in the prior month. This follows two months of relatively stable prices, as calculated from National Bureau of Statistics data.
Government Prioritizes Property Market Stability
In its annual work report earlier this month, the government identified stabilizing the property market as a key priority for the year. Officials have pledged to introduce city-specific policies to adjust homebuying restrictions and stimulate demand for first-time homebuyers and those seeking improved housing.