Mainland China’s home prices extend slide, adding strain to struggling property sector

South China Morning PostCenter-RightEN 2 min read 100% complete by Cao LiJanuary 19, 2026 at 05:14 AM

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Home prices in mainland China continued their decline in December, falling 0.4% month-on-month across 70 cities, matching November's drop and marking one of the steepest declines in over a year. Year-on-year, prices slipped 3%, accelerating from November's 2.8% decrease, with only six cities showing monthly gains. Despite over 500 supportive measures introduced by local governments throughout the year, including eased buying restrictions in major cities, the housing sector continues to struggle. The ongoing decline is attributed to broader economic factors like employment and consumption impacting household affordability and willingness to pay. Policymakers have pledged to stabilize the sector, but the real estate downturn, which began in late 2020, persists.

Key Entities & Roles

Key Player Opposition Context

Tianjin 40% Central Economic Work Conference 40% Beijing 50% Shanghai 50% Li Yujia 60% Guangdong Housing Policy Research Institute 60% National Bureau of Statistics (NBS) 70% China ×390%

Keywords

home prices 100% property sector 90% economic growth 70% housing market 70% price decline 60% real estate 60% government measures 50% economic downturn 50% consumption 40% employment 40%