China’s housing market continued to show signs of weakness in May, with new home prices in first-tier cities falling by 0.2% month-on-month, according to the National Bureau of Statistics (NBS).
On a year-on-year basis, new house prices in top-tier cities dropped 1.7%, though the pace of decline slowed by 0.4 percentage points compared to April.
In the broader market, second-hand home prices in second-tier cities posted a 6.1% year-on-year drop, also moderating slightly, with the decline pace 0.4 percentage points slower than in April.
Meanwhile, third-tier cities experienced the steepest decline, with second-hand home prices down 6.9% year-on-year, though this too represented a 0.5 percentage point slowdown from April's figures.
The data reflects a gradual easing in the downward pressure, but persistent declines indicate that China's property sector remains under strain, despite ongoing policy support and easing measures.
VietnamSteel by Hoa Sen Group
