The writer is founder and managing partner of Plenum
China’s real estate recession is three years old, and many investors are wondering when it will bottom out. By many measures, we have witnessed one of the greatest housing market corrections in economic history.
The decline in housing sales and construction activities is sharp. On a rolling 12-month basis, China’s new home sales have fallen to 850mn square metres, or roughly 8.5mn apartment units, according to my calculations using official statistics. That is half the level of three years ago.
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