Housing cycles / CHN
China
Real residential property prices, BIS index, 2005 to 2026-Q1. The index is rebased to 2010 = 100 for China alone, so its level says nothing next to another country’s. Growth and drawdown are comparable across countries; the level is not.
Real house price index, annual
Annual means of the quarterly real index. A year is plotted only if all four of its quarters are present, so a partial year is dropped rather than averaged over whatever is present.
Source: BIS residential property prices (selected series) Latest real quarter 2026-Q1 = 85.1; highest observed real quarter 2021-Q3 = 113.0. Methodology
Banking crises
The annual real index has no complete year at one or both ends of the required window for this crisis, so it cannot be measured. It is listed anyway, with the missing year named.
| Crisis | Run-up t-5 to t | Trough vs t | Years to trough |
|---|---|---|---|
| 1998 | not measurable: no complete index year at 1993 or at 2003 (the annual index runs 2006 to 2025) | ||
Source: BIS residential property prices (selected series) | Laeven and Valencia, Systemic Banking Crises Database (2025 update) 1 of the 1 crisis on record for China cannot be measured against this price index. It is listed above rather than dropped. Methodology