China’s five-year long property market woes have transformed the sector, but there are signs the government is determined to arrest the slide this year.
People buy new houses at a sales office in Anyang City, China. Credit: Costfoto/NurPhoto via Getty Images
China’s declining real estate market has been a defining feature of its economy during the last five years. Over that time, the sector has been transformed, with a total reshuffle of the country’s top property developers, collapsed sales and investments, and a glut of unsold property.
This week, the Wire takes a look at the transformation that has taken place, and whether there are any signs a turnaround is imminent.
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