China Tier 1 Existing Home Prices Rise 2% After 38% Slump Since 2021
Updated
Updated · The New York Times · May 21
China Tier 1 Existing Home Prices Rise 2% After 38% Slump Since 2021
1 articles · Updated · The New York Times · May 21
Existing-home prices in Beijing, Shanghai, Shenzhen and Guangzhou rose 2% from February through April, according to UBS and Centaline data, offering a fresh sign China’s housing downturn may be nearing a floor.
That uptick follows a 38% collapse since 2021, and analysts remain split on whether the recent stabilization marks a durable bottom or another brief pause before prices fall again.
Chinese households have borne much of the damage because many parked most of their savings in property, only to see apartment values sink as the broader economy weakened.
One buyer in Henan said the roughly $76,000 apartment he bought in 2021 has lost nearly a third of its value, underscoring how the housing slump has eroded middle-class wealth and confidence.
Is China's housing rebound a real recovery or another trap for anxious homeowners?
Has the property crash permanently shattered the Chinese middle-class dream of home ownership?
China's Housing Market 2026: Signs of Stabilization Amid Deep Structural Challenges
Overview
China's property market in early 2026 shows an uneven recovery, with some major urban centers like Shanghai and Beijing starting to stabilize as secondary home prices rise. Official data from April suggests the market may be reaching a trough in these prominent cities, following government efforts to prevent risks and support real estate. However, broader challenges remain, as many areas still face declining prices and economic uncertainty. This mixed landscape highlights both the positive signals in first-tier cities and the ongoing difficulties across the wider market, reflecting the complex path toward recovery.