China's new home prices fell for the fifth straight month in December as COVID-19 outbreaks hurt demand, but the dismantling of strict pandemic curbs and hope for more support measures have brightened the outlook.
New home prices in December declined 0.2% month-on-month, the same pace as in November, according to Reuters calculations based on National Bureau of Statistics data released on Monday.
In December, 55 out of 70 cities saw a month-on-month decline in new home prices, four more than in November, the NBS said in an accompanying statement. The reopening of the economy has led to a wave of COVID infections, which are likely to hamper economic activity and strain households for at least several months.
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