The situation is getting worse in the Chinese real estate market. According to analysts and economists surveyed REUTERS in the period from May 16 to May 23, the indicator of falling prices in the first half of the year will be 1.3%. It is expected that prices will not change further until the end of 2022. At the same time, sales and investments continue to fall.
Since the beginning of this year, more than 100 cities have taken steps to increase demand and revitalize the real estate market. Mortgage rates were reduced, subsidies were offered. However, analysts' forecasts are still pessimistic.
Frequent outbreaks of COVID-19 are still factors negatively affecting the market situation. For example, Beijing has recently expanded the list of residents who are recommended to work remotely.Gyms and indoor catering facilities are closed. Shanghai, on the contrary, plans to remove a 2-month lockdown in the first half of June.
