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?