China’s Foreclosed Homes Hit 1 Million, Defaults Surge, Banks Panic, Causing Mass Collapses
China’s Foreclosed Homes Hit 1 Million, Defaults Surge, Banks Panic, Causing Mass Collapses
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According to the China Index Institute’s foreclosure database, from January to February 2025, the total number of foreclosed homes nationwide was 172,000, a 4.5% increase from the same period in 2024. The auction success rate was just 13.7%, and the average discount rate was 75%. In 2024, the total number of foreclosed homes listed for auction was 768,000, with 775,000 in 2023.
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