China's new home prices rose slightly in September, breaking a four-month decline, data showed on Sunday, as developers sped up launches to take advantage of a recent slew of support measures.
Prices rose 0.05% on average from the previous month after falling since May, according to a survey by China Index Academy, a real estate research firm. Only 30 of the 100 cities surveyed reported a fall in new home prices.
The biggest month-on-month increase since October 2021 driven by developers launching new, higher quality housing projects, the firm said in a report. Confidence in the property sector, which accounts for one-fourth of economic activity, has been hit since 2021 when Beijing cracked down on debt accumulation by developers, fuelling a debt crisis. Deepening problems in the sector this year have dragged on the world's second-biggest economy and rattled global financial markets.
China has announced a raft of measures in recent weeks to boost home-buying sentiment, including easing some borrowing rules and relaxing home purchasingThese policies have given major cities like Beijing a tiny boost in new home sales, but some worry the improvement might be short-lived and could potentially dry up demand in smaller cities.
If such policies continue to be optimised, the report said, the market in first-tier cities are likely to stabilise this quarter while recovery in smaller cities might take longer.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
China new home prices tick up in Sept, ending four-month declineChina new home prices tick up in Sept, ending four-month decline - survey
Weiterlesen »
China September factory activity expands for first time in six months By ReutersChina September factory activity expands for first time in six months
Weiterlesen »
China September factory activity expands for first time in six monthsChina's factory activity expanded for the first time in six months in September, an official factory survey showed on Saturday, adding to a run of indicators suggesting the world's second-largest economy has begun to stabilise.
Weiterlesen »
China's factory activity recovery slows in September - Caixin PMI By ReutersChina's factory activity recovery slows in September - Caixin PMI
Weiterlesen »
Photos this week: September 21-28, 2023Take a look at 31 photos of the week from September 21 to September 28.
Weiterlesen »
Page R1View the Sunday Real Estate for Friday, September 29, 2023
Weiterlesen »