China’s Real Estate Crisis: Economic Alarm Bells?

China’s Ongoing Real Estate Crisis Sparks Concerns over Economy

China’s four-year real estate crisis appears to be worsening, causing distress among investors and homebuyers. The escalating problem is now raising concerns about the potential impact on the country’s economy. The property sector has long been a vital contributor to China’s annual economic growth, accounting for approximately a quarter of it. Moreover, with around 70% of household wealth tied to the real estate market, Chinese citizens have regarded it as a safe haven for their savings.