Overview

• New-home prices in 70 Chinese cities dropped 0.12% in April, accelerating from a 0.08% decline in March, while used-home prices fell 0.41%, up from a 0.23% decline the previous month.
• First- and second-tier cities in China saw stable new-home prices in April, while third-tier cities experienced a 0.2% decrease, highlighting regional disparities.
• China's central bank reduced mortgage rates on housing provident funds to a record low of 2.6% for first-time buyers, and commercial banks approved 6.7 trillion yuan in loans for whitelisted housing projects.
• Hong Kong's property market showed signs of recovery, with Sun Hung Kai Properties selling 376 flats on May 18 after receiving 34,000 bids, supported by the one-month Hibor dropping below 1.3%.
• Economists warn that uncertainty from the US-China trade war could further weaken housing demand in mainland China, despite recent policy interventions.