Warning signals on behalf of real estate market of China, which is a key driver of growth in the second largest economy in the world, keep accumulating, Bloomberg reports.

China International Capital Corp. (CICC) forecasts new homes sales decline by 10%. S&P Global Ratings assumes that prices may fall by 5%. CGS-CIMB Securities Ltd. talks about price and sales decrease by 10%.

CICC calls 2019 «a year of recession» for real estate sector, since sales will fall first time in five years.

Last month data showed inflation price slowed down first time in seven months. Officials are trying to restrict price growth without hurting economy seriously.

China real estate market received the rank of the most important sector in 2011. This rank was given by UBS Group AG due to its importance for China’s growth and for global development as a whole.