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Property Market Chartbook, May 2022

Conditions in China’s property market remain dire, with sales severely limited by lockdowns and other COVID-related restrictions. Sales are still falling by 52% y/y in May according to the 30-city data. Policy overall is becoming more supportive toward the sector, led by multiple local governments and boosted by the recent 15 bps cut to the 5-year loan prime rate (LPR). Critical areas to watch include whether or not financial institutions remain cautious in lending to developers, as well as how fast sales improve after COVID restrictions are eased.

Posted May 31, 2022
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