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New home prices fall at fastest pace in 10 years in China
short by Pragya Swastik / on Monday, 17 June, 2024
China's new home prices fell at the fastest pace in nearly 10 years in May, official data showed. Prices were down 0.7% in May from the previous month, marking the 11th straight month-on-month decline and the steepest drop since October 2014, Reuters reported. China's property sector is struggling despite government efforts to limit oversupply and support debt-laden developers.
read more at Reuters