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Despite incentives, Chinese demand for homes not recovering

Condo sales slow to rebound amid resurgence of COVID-19

A showroom for a condo development in Ordos, Inner Mongolia. Demand for new homes remains sluggish in China, especially outside of its largest cities. (Photo by Iori Kawate)

BEIJING -- Prices of newly built homes in China's biggest cities fell for the sixth straight month in February as the country's real estate market struggles to rebound despite efforts by regional governments to lift sales.

Many consumers are reluctant to take out mortgages now that the economy is hampered by another surge in coronavirus infections and lockdowns, making the employment situation uncertain. Some observers warn that a recovery in the housing market will require some time.

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