On Saturday, a private survey showed that the price of new houses in the Communist China fell for the third consecutive month in September due to mortgage holders nationwide have resisted to pay and the economic slowdown deterred potential home buyers. The real estate market crisis in the Communist China worsened this summer. Official data showed that house prices, sales and investment were dropped in August, putting pressure on the world’s second largest economy, which barely grew in the second quarter.
House prices in 100 cities fell by 0.02% in September compared with last month in the Communist China.
According to a survey by the China Index Academy (CIA), one of the largest independent real estate research companies in the Communist China, house prices in 100 cities fell by 0.02% in September compared with last month, and fell by 0.01% in July and August respectively.
The survey shows that monthly prices fell in 56 of these 100 cities, compared with 69 in August.
The National Bureau of Statistics will release the official new house prices for September on October 19th.
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