”The housing market is still in a precarious position, and much depends on the government’s follow through on support. Without intervention, Goldman Sachs Research estimates that property values may be at risk of falling by another 20% or 25%, which would drop them to about half of the peak in prices. But the government moves are positive nonetheless, and our researchers now estimate that property prices may stabilize by late 2025. “Incremental government implementation of housing destocking will provide much better visibility for the housing market to stabilize in the coming years,” Wang writes. What is the outlook for China’s property market? Up to this point, government measures to heal the property market have fallen short, according to Goldman Sachs Research. It estimates that the supply of saleable housing inventory will be equal to more than two years of demand, as of the end of 2024.”
Morten W. Langer
