China's new housing sales and prices for existing residential units experienced a continued decline in January 2025, according to a report from the China Index Academy.
The average price per square meter for existing residential properties fell by over 7% compared to January of the previous year, based on data collected from the top 100 cities in China.
Property sales among the leading 100 real estate developers decreased by nearly 17% year-on-year in January. This downturn in the residential property market, which once constituted a significant portion of the country's economic output, is now viewed as a major concern for households, investors, and policymakers.
In response to the ongoing challenges in the housing sector, both central and local governments in China have intensified efforts to stimulate market sentiment and encourage new home purchases. These initiatives include offering subsidies to consumers and providing financing support to state-owned enterprises.
Analysts anticipate that while property sales and prices in China may continue to decline throughout the year, the rate of decrease is expected to slow compared to the previous year.