Key Points
- S&P Global Ratings said China’s primary real estate sales will likely drop by between 10% to 14% this year, worse than the 5% to 8% decline for 2026 sales the firm predicted back in October.
- “This is a downturn so entrenched that only the government has capacity to absorb the excess inventory,” the analysts said in a note.
- S&P said it was particularly concerned that the price decline in China’s biggest cities worsened in the fourth quarter of last year.
