Our chart shows the resilience of Chinese property in the secondary market.
As our chart shows, sales of homes in China’s secondary market shot right back up just one month after plummeting in response to the COVID-19 crisis. Not only that, but volumes have since continued to climb – along with prices! This is especially true for residences in the most urbanised and economically developed areas – so-called tier-1 cities such as Beijing, Shanghai, Guangzhou and Shenzhen.
Property analysts say Chinese investors view housing as a safer bet than stock markets or overseas assets. As the pandemic threatens a global economic downturn, can we expect demand to intensify? And how much more can prices rise before the bubble finally bursts?