Depreciation Bites: Dollar Home Prices Falling in Most Cities

The renminbi devalued 5 percent from July 1 through today. Of the 70 cities in the NBS housing survey, only 22 have price rises that exceed the devaluation. All 22 have implemented buying restrictions.

iFeng: 中国仅22城房价涨幅超过人民币贬值速度 有你家吗?

The right column in the chart below shows the second half price rise. The left column shows the October price change.

The brakes are also being put on real estate companies. Caixin covered some of the tightenting last month: Regulators Beef Up Curbs on Property Developers' Efforts to Generate Funds
Specifically, the two government bodies will no longer approve requests from property firms to issue bonds at home or overseas, according to sources. Tapping the Hong Kong stock market for funds will also be out of the question because the CSRC will reject an IPO plan if it's filed by a real estate company, sources said.
The table below is from the iFeng article, showing a collapse in debt issuance.
Exchange-rate adjusted home prices are decelerating or falling.

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