Part 3/7:
The data paints a grim picture of the property market in China. A chart detailing year-on-year home sales shows a decline of 3.2% in January 2025. This follows even larger declines in prior years: 34.2% in January 2024, 32% in January 2023, and a staggering 47% in February 2022. This cumulative decrease indicates an ongoing crisis for property developers across the country.
Moreover, property prices have not fared any better, recording 12 consecutive months of declines. As of December 2024, year-on-year prices fell by 5.3%. With each passing month and year, the negative trends intensify, leading to a bleak outlook for property developers who are struggling to turn a profit.