IMF warns on China’s property market worsening [Video]

The International Monetary Fund (IMF) warned of a possible worsening of the state of China’s property market as it trimmed its growth expectations for the world’s second-largest economy.

In a report published Tuesday, the IMF trimmed its forecast for growth in China for this year to 4.8%, 0.2 percentage points lower than in its July projection. In 2025, growth is expected to come in at 4.5%, according to the IMF.

The Washington, D.C.-based organization also highlighted that China’s property sector contracting by more than expected is one of many downside risks for the global economic outlook.

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

Historical property crises in other countries like Japan (in the 1990s) and the U.S. (in 2008) show …