There is no telling just yet! The Chinese property has been heavily inflated for a few years already, propped up with extensive government intervention and perverse incentives for local administrations to drive up land prices. There is no telling yet if this decline is
a) real (government-issued numbers are one thing, reality is another);
b) driven by the policies (or just the bubble bursting);
c) permanent. It may be a spike caused by the timing of a measure, or a financing roll-over, or whatever.
a) real (government-issued numbers are one thing, reality is another);
b) driven by the policies (or just the bubble bursting);
c) permanent. It may be a spike caused by the timing of a measure, or a financing roll-over, or whatever.