Global Times recently reported that, according to the numbers that the National Bureau of Statistics released, in January, the price of new houses suffered a year-over-year decline of 5.1 percent. It was the worst decline since the Bureau started tracking this index. The statistical scope covered 70 cities. Of those, 64 saw a decline in January. In the past several months, the Chinese housing market has been consistently on the decline, including in many mid-sized cities. More and more investors are moving their money into the stock market. Real estate and its related industries hold a one-quarter share of the Chinese economy. Analysts expect a continued trend of decline in this sector, especially given the situation that the already huge real estate inventory is still seeing growth.
Source: Global Times, February 17, 2015