Chinese property brokers like Beike, which rely on income from commission fees for completing home sales, face a struggle. Photo: Weibo
Chinese property brokers like Beike, which rely on income from commission fees for completing home sales, face a struggle. Photo: Weibo

Beike Zhaofang, China’s biggest online property agency, axes staff as housing sector heads into a bleak winter

  • US-listed Beike has been laying off staff as a downturn in China’s property industry dents its income from sales commission fees
  • China’s benchmark price index for new homes fell in September for the first time in more than six years while transactions across the country are plunging

Chinese property brokers like Beike, which rely on income from commission fees for completing home sales, face a struggle. Photo: Weibo
Chinese property brokers like Beike, which rely on income from commission fees for completing home sales, face a struggle. Photo: Weibo
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