April new home prices down y-o-y for 8th straight month
But there is little change from March, adding to hopes that a property downturn is bottoming out
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Hong Kong
CHINA'S new home prices fell for the eighth consecutive month in April from a year earlier but were flat from March, adding to hopes that a property downturn which is weighing heavily on the economy is beginning to bottom out.
But analysts warned that any recovery in the market will take some time given a huge inventory of unsold homes, and said that the property sector remains the biggest risk to the world's second-largest economy, which looks set for its worst year in 25 years.
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