China’s biggest housing market, Darfur, has not experienced a major economic downturn in the last decade, but it has suffered several massive natural disasters.
In the last year, the Darfur region experienced a series of earthquakes, floods, landslides and fires that destroyed many homes and businesses.
In 2016, the capital city of Darfur was hit by a major flooding that damaged or destroyed more than 50 percent of the city.
In 2017, Darfuri was hit with a deadly cyclone that killed at least 23 people.
In 2018, the region experienced its worst flooding and drought since records began in 1874.
The region also experienced widespread damage from heavy rains in 2020.
But the Darfur region is now recovering from the worst drought in its history, and the housing market there has begun to rebound.
Some analysts say the Darfrans housing market may finally be beginning to recover from the natural disasters of 2018 and 2020.
“We have been looking for housing market recovery and for a more stable environment to be able to move forward,” said John Chappell, chief market strategist at RBC Capital Markets.
“It’s going to take a while before we can see that.
The housing market could be recovering, but the housing recovery could be slower than we’ve been expecting.”
According to Chappll, the market may not reach its potential until 2019, but he said the Darfalas housing market “has been resilient for a while.”
“I think you see it in the way prices are being driven down and we see a strong rebound in the housing prices,” he said.
RBC Capital markets analysts said that the Darfais housing market has been relatively stable, with prices rising more slowly than some of the other cities in the region.
“The Darfalans housing price increase is relatively low compared to other cities and, even after the cyclone, it has stayed fairly stable,” said Chappel.
While the Darferes housing market does not appear to have experienced a dramatic downturn in recent years, Chappels analysts said the region is in danger of a similar downturn.
According to the National Association of Realtors, Darfaas average price of homes is now lower than its average price in the past decade.
In 2018, Darfalais home sales were down more than 12 percent from a year earlier.
The National Association also found that Darfaasi homes were over-valued by more than half a percent.
Darfalas real estate market is one of the most expensive in the world, with many people living in the areas most impacted by the natural disaster.
For more about housing in China, check out this article from Bloomberg.