China's home price outlook for 2024, 2025 worsens: Reuters poll
BEIJING - China's home prices will fall at a faster pace that previously forecast this year and next, a Reuters poll showed, as support policies from Beijing struggle to help the property sector find a bottom.
"My house price forecasts have been revised down from May, as cash flow pressures on some big real estate companies will continue to mount, widening risk exposure and putting pressure on confidence in the property market," said Ma. The poll of 10 analysts from Aug. 26-29 showed property sales likely shrank 16.0% in 2024, steeper than the 10.0% slump forecast in the previous poll, while investment was expected to fall 10.3% from the 10.0% decline forecast in May.
Beijing's plan to resolve its property mess is off to a slow start. Only 4% of a 300 billion yuan relending scheme to help mop up residential inventory has been drawn by local governments and state firms, central bank data shows.
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