China’s property market woes expected to prolong

The property market, a pillar of the world’s second-largest economy, was weakened by a government clampdown on excessive borrowing from developers last year.

BEIJING: China’s property market woes are likely to worsen this year, with prices remaining flat and sales and investment falling further, while tighter and widespread Covid-19 curbs weigh on still fragile demand despite more policy easing.

The property market, a pillar of the world’s second-largest economy, was weakened by a government clampdown on excessive borrowing from developers last year.