China’s real estate market recovers in May as policy eases
(Yicai Global) May 31 — China’s property market rebounded this month on the back of looser policies.
By area, real estate transactions in 17 major cities rose 8.8% in May from a month ago, with the annual decline narrowing to 51%, The Paper reported yesterday, citing data from property market researcher China Index Academy.
In first-tier cities, transactions by area fell 31.9% from April and 79.7% from a year earlier, while those in representative second-tier cities increased by 8, 3% in April, but fell 55.7% from a year ago, The Paper said. The figure for indicative third-tier cities jumped 27.2% from last month, but fell 61% on the year.
Real estate market regulations continued to be eased this month, helping families with multiple children buy homes as well as tax subsidies for some buyers, said Wang Xiaoqiang, chief analyst at Zhuge Real Estate Data Research Center. .
As of May 26, more than 120 Chinese cities had relaxed their real estate policies more than 200 times this year, including 93 times this month, according to incomplete figures from the Zhuge Real Estate Data Research Center.
In May, the central government not only supported the release of reasonable housing demand, but also implemented favorable credit policies. The market showed steady rebounds this month, sending a positive signal and exposing the effect of easing policies. The market showed signs of stabilizing and rebounding, sending a positive signal and revealing the effect of looser policies.
The total housing stock in seven representative cities monitored by the China Index Academy remained stable in May, up 0.7 percent from the previous month. The figure for the southern city of Shenzhen jumped 7.1%.
Publisher: Futura Costaglione