KEY POINTS
  • Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country's overall growth.
  • That's according to the International Monetary Fund's latest staff report on China, completed in late December and released Friday.
  • The prediction for a roughly 50% drop in new housing "overestimates the possible market downturn," Zhengxin Zhang, China's representative to the IMF, said in a Jan. 10 statement.
Pictured here is a real estate project under construction in Huai'an, China, on Jan. 21, 2024.

BEIJING — Demand for new housing in China is set to drop by around 50% over the next decade, making it harder for Beijing to quickly bolster the country's overall growth.

That's according to the International Monetary Fund's latest staff report on China, completed in late December and released Friday.