Part 6/11:
China has historically relied on its real estate sector as a linchpin for economic growth. However, a policy crackdown from 2020 onward has seen property developers curtail operations, resulting in significant downturns in property values across Tier 2 and Tier 3 cities. The repercussions are dire, with a staggering amount of family wealth lost to plummeting home prices. The pre-sales model, designed to invigorate the market, has devolved into a chaotic scenario where numerous buyers remain trapped in contracts for unfinished homes.