Reality check for realty sector

Property prices continue to head south as homebuyers stay on the sidelines amid increasing funding problems for real estate developers, Zheng Yangpeng reports

Housing prices slumped further in China in May with more homebuyers preferring to stay on the sidelines in anticipation of a further drop in prices.

The number of cities that experienced a month-on-month price decline surged to 35 in May, compared with only eight in April, according to data released by the National Bureau of Statistics on Wednesday. Only 15 out of the 70 cities monitored by the NBS saw a higher price over April, compared with 44 in April.