China needs to trim housing glut as priority to repair confidence, analysts say

Quick Summary:

Analysts see destocking as a priority for Chinese authorities to stem another year of decline in home prices.

The city last week said it bought more homes than its target of 10,000 unsold units in 2024, injecting the much needed cash to struggling developers.

It will take slightly more than 21 months to clear the glut, and more than 30 months in some representative tier-3 and tier-4 cities, it added.

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Article Details

Author / Journalist: Yulu Ao

Category: Business

Markets: Hong KongChina

Topics: Housing Analysts Unsold Year Cities Months Market 2024 Supply Mainland China’s

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-13 @ 09:30:16 (7 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 275 words

Reading Time: 2 minutes read

Sentences: 10 lines

Sentence Length: 28 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 25094220

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