China's property sector faced a challenging year in 2023, marked by a 26% year-on-year decline in home sales during the New Year holiday in 40 major cities. This downturn persisted despite policy easing and a series of measures introduced by authorities to revive the market, including efforts to boost funding for developers. The year also saw an increase in bond defaults within the sector. Despite these interventions, major cities continued to experience sluggish home transactions over the holiday period. Furthermore, sales for the top 100 Chinese property developers slid over 17% in 2023, with nearly 70% of developers reporting declines.
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Top 100 Chinese #property developers' sales slid over 17% in 2023, nearly 70% recorded declines https://t.co/8AH3ZY32SP
#China's major cities saw #home transactions remain sluggish in New Year holiday despite continue policy easing https://t.co/nEZOqtq44j
Year in Review: 2023 is a year China’s property sector would rather forget as home sales slumped and bond defaults increased. As hopes of a recovery faded, authorities launched a series of measures to encourage buyers and boost funding for developers. https://t.co/nE16yPn6du
#Home sales in #China's 40 major cities during New Year holiday fell 26% y/y https://t.co/haGgRmRP6L https://t.co/YGGjJ1oOUp
China's home sales during New Year holiday fall 26% compared with 2023 https://t.co/WUKzno5RQJ https://t.co/4ckNJo6swi