21-September-2021
Economy News
 
China's cooling measures curb new home price growth, property investment
15-Sep-2021

China’s new home prices rose at their slowest pace in months in August as authorities stepped up efforts to rein in a red-hot property market, and cooling measures were expected to limit home price growth going forward.Average new home prices grew at their slowest pace since December on a monthly basis, and since January on an annual basis, after authorities stepped up property curbs this year, from capping banks’ lending to the sector to restricting purchases. The property market’s sharp rebound from the COVID-19 shock last year has raised concerns about financial risks. But the array of tightening measures are weighing on China’s important property sector, just as the world’s second-largest economy is showing signs of slowing. China’s property market is also grappling with widespread problems at the country’s second-largest property developer China Evergrande Group, which is struggling to restructure a mountain of debt and avoid a possible default.

News Source:- https://www.reuters.com/article/china-economy-homeprices/update-3-chinas-cooling-measures-curb-new-home-price-growth-property-investment-idUSL1N2QH033