{"id":25955,"date":"2021-11-24T06:49:24","date_gmt":"2021-11-23T23:49:24","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=25955"},"modified":"2021-11-23T19:53:02","modified_gmt":"2021-11-23T12:53:02","slug":"chinas-new-home-prices-fell-by-0-2-in-october","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/chinas-new-home-prices-fell-by-0-2-in-october\/","title":{"rendered":"China’s new home prices fell by 0.2% in October"},"content":{"rendered":"

The country\u2019s property\u00a0market has deepened as new home prices saw the biggest\u00a0<\/span>fall since 2015<\/span><\/span>\u00a0<\/span><\/p>\n

\"\"
Following the Evergrande issue, China\u2019s real estate industry has come under intense scrutiny as fears continue over the future of companies.\u00a0GuoZhongHua\/Shutterstock<\/figcaption><\/figure>\n

Official data has revealed that China\u2019s property slump has\u00a0deepened, with\u00a0new\u00a0home prices seeing their biggest month-on-month decline since 2015, reported BBC<\/a>.\u00a0<\/span>\u00a0<\/span><\/p>\n

Compared to 2020, new construction starting from January to October also dropped by 7.7 percent. <\/span>\u00a0<\/span><\/p>\n

Due to the recent Evergrande crisis, along with a new wave of COVID-19 cases and major power cuts, the country\u2019s property market has been shaken up.\u00a0<\/span>\u00a0<\/span><\/p>\n

In October, new home prices fell by 0.2 percent, the biggest decline experienced in China since February 2015. It is also the first decline in new home prices since March 2015. <\/span>\u00a0<\/span><\/p>\n

Following the Evergrande issue, China\u2019s real estate industry has come under intense scrutiny as fears continue over the future of companies.<\/span>\u00a0<\/span><\/p>\n

The debt crisis could also majorly impact global financial markets,\u00a0triggering\u00a0concerns among some international investors.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: News of higher property tax in China alert multiple-home owners<\/strong><\/a><\/p>\n

However, numerous high-profile figures have moved to help calm distress in recent weeks. Haruhiko Kuroda, the governor of the Bank of Japan said that he believed that\u00a0China\u2019s\u00a0property\u00a0problems\u00a0were\u00a0unlikely\u00a0to\u00a0trigger a global shock as debt outside the country was relatively low.\u00a0<\/span>\u00a0<\/span><\/p>\n

“We don’t expect China’s property woes to have a big impact on Japan’s economy or financial institutions. We also don’t see a huge risk of the woes triggering a big, global shock,” Kuroda told business leaders in the city of Nagoya, central Japan.<\/span>\u00a0<\/span><\/p>\n

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The Property Report editors wrote this article. For more information, email:\u00a0<\/em>propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The country\u2019s property market has deepened as new home prices saw the biggest fall since 2015 <\/p>\n","protected":false},"author":12,"featured_media":25956,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[137,520,1964,512],"class_list":["post-25955","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-china","tag-home-prices","tag-market-insight","tag-residential","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"\nChina's new home prices fell by 0.2% in October | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.asiapropertyawards.com\/en\/chinas-new-home-prices-fell-by-0-2-in-october\/\" 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