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China’s new home prices in Oct fell by the most since February 2015 -Breaking

by Mike Robinson

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BEIJING, (Reuters) – China’s October home prices dropped 0.2% in the month of October. This is the largest drop since February 2015. The continued weakness in demand across China and authorities limiting purchases to discourage speculators has led to continued weakening.

According to Reuters calculations of the National Bureau of Statistics data, which was released Monday, the October increase in new home prices was 3.4%. This is slower than September’s 3.8% growth.

Concerns about large property developers in China being saddled with huge debts have shaken sentiments. China’s real estate market accounts for 25% of China’s gross domestic product according to some metrics.

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