Overview

• New-home prices in 70 cities fell 0.22 percent month-on-month in May and used homes dropped 0.5 percent, marking the steepest decline in eight months.
• Property investment decreased 10.7 percent year-on-year in the January-May period while sales by floor area slid 2.9 percent, official data shows.
• At a June 13 State Council meeting Premier Li Qiang vowed to halt the downturn and directed coordination of existing and new support across ministries.
• UBS analysts say the effects of last September’s stimulus blitz are wearing off and a Reuters poll forecasts nearly a 5 percent price fall this year followed by stagnation in 2026.
• Several cities have eased restrictions on housing provident fund loans after a central bank rate cut in early May, but buyer sentiment remains muted.