BEIJING (Reuters) – China’s new home prices fell in September as its property sector is grappled with a mortgage boycott, a heightened debt crisis and COVID restrictions that dimmed the economic outlook.
New home prices in September fell 0.2% month-on-month from a 0.3% drop in August, according to Reuters calculations based on National Bureau of Statistics (NBS) data released on Monday.
New home prices in September declined 1.5% year-on-year, compared with a 1.3% decline in August.
China has rolled out a flurry of policies to revive the embattled sector, including relaxing on mortgage rates and refunding individual income tax for some home buyers.
(Reporting by Liangping Gao, Ella Cao and Ryan Woo)
