New housing in China rises at the slowest pace for the last 8 months

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Prices for new housing in China rose by 0.77% in December, Bloomberg reports based on data from the National Bureau of Statistics of China. There has been no such growth in China since April 2018. The minimum growth rates over the past 8 months are due to government restrictions on speculation. Chinese authorities are taking steps to reduce the real estate boom, although housing prices have been rising for the 44th consecutive month. Several major cities in China have already lifted restrictions on real estate transactions. If the real estate market booms, the downside risks for China will increase. The country's economy needs support against the backdrop of a trade war with the United States. Housing prices in the megalopolises of the PRC grew by 1.25%, in cities of the second order - by 0.71%, in cities of the third order - by 0.77%. The maximum growth was recorded in Guangzhou, where housing prices rose by 3%.

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