Chinese property bust worsens

Monday 16 February 2026

Goldman believes that after accounting for seasonal fluctuations, the weighted average property price in the Chinese primary market decreased by 5.3% on an annualized basis in January, according to NBS 70-city data.

Prices varied widely among city tiers. NBS and third-party platforms’ secondary market data indicate price decreases of 10% to 25% throughout the previous 12 months.

It is wall-to-wall.

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:

$24.99 / month

$249 / year

Cancel at any time through our billing provider, Stripe

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.