IMF warns China’s property market woes ‘could worsen’

The International Monetary Fund (IMF) warned on Tuesday that a prolonged downturn in China’s real estate market could worsen, pointing to “persisting weakness” in a sector that was once a key driver of growth.

“Conditions for the real estate market could worsen, with further price corrections taking place amid a contraction in sales and investment,” the IMF said in its World Economic Outlook report.