China’s real estate market decline may continue for another two years before it stabilizes, according to a former central bank official.
New home sales across the country are likely to shrink by another 50 million square meters this year and next, with the annual total for 2025 stabilizing at around 850 million square metres. Sheng SongchengThe former director of the Statistics and Analysis Department of the People’s Bank of China said during a forum in Shanghai on Saturday. He added that the affected industry will no longer constitute an obstacle to investment and economic growth.