English
French
German
Italian
Russian
Spanish
China new home prices tick up in Sept, ending four-month decline – survey
China new home prices tick up in Sept, ending four-month decline – survey By Reuters
Breaking News
‘;
Published Oct 01, 2023 12:43AM ET
Updated Oct 01, 2023 12:50AM ET
(C) Reuters. Apartment blocks are pictured in Beijing, China December 16, 2017. Picture taken December 16, 2017. REUTERS/Jason Lee/File Photo
SHANGHAI (Reuters) – 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 purchasing curbs in some cities.
These 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.
China Evergrande (HK:3333) Group, the world’s most indebted property developer, with more than $300 billion in liabilities, said on Thursday its founder was being investigated over suspected crimes.
China new home prices tick up in Sept, ending four-month decline – survey
Terms And Conditions
Privacy Policy
Risk Warning
Do not sell my personal information
(C) 2007-2023 Fusion Media Limited. All Rights Reserved.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
