China’s real estate market is paralyzed

China’s housing prices have fallen by about 90% compared to the same period in 2019. This worrying indicator is likely to reach the danger line, as many cities in the country are now completely closed.

This unprecedented deflation is naturally due to coronavirus. This evil has actually stopped the whole economic movement in China – the most powerful country in the world. Currently, only online businesses are actively developing in the country. Many companies offer apps that allow to buy almost everything, including real estate. However, if you can buy a microwave oven online from Amazon, buying real estate, as the current experience shows, is not realistic.

Regardless, analysts believe that when the virus is overcome, the real estate market will completely recover.