"IMF Forecasts 50% Decline in China's Future Housing Demand"

The IMF predicts a 35-55% drop in new housing demand in China over the next decade due to a decline in new urban households and a large inventory of unfinished properties, which could hinder the country's overall growth. China's real estate sector, accounting for a quarter of GDP, has been affected by a government crackdown on developer debt reliance. Despite the IMF's prediction, China's representative to the IMF believes housing demand will remain large, and policy support will gradually kick in. The IMF also expects slower GDP growth of 4.6% this year and notes that moving supply chain production could lower China's GDP growth by about 6%.