#Policymakers have been attempting to rein in the oversupply of housing, and support debt-laden developers since the real property market went into freefall in 2020, hit by the #pandemic and a sudden #RegulatoryCrackdown on indebted lenders.

But the #PropertyGlut is still holding down prices despite all government attempts to revive market. #PropertyMarketCrisis

#China new #HomePrices drop at fastest rate in nearly a decade
https://www.theguardian.com/business/article/2024/jun/17/china-new-home-prices-fall-property-market

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