China’s Real Estate Crisis Intensifies in 2024

Summary: China's real estate market continues to face severe challenges, with massive oversupply, falling demand, and deep-rooted financial instability among developers. Despite government intervention, including stimulus measures and policy changes in major cities like Guangzhou, Suzhou, and Shanghai, the market remains in a precarious state. Developers struggle to complete projects, many of which were pre-sold, leading to a cycle of declining prices and diminishing buyer confidence. Experts suggest that these short-term remedies may not be enough to resolve the deeper systemic issues threatening the market and the overall economy.