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CHINA: October Property Sales Rise.

CHINA
Bullet
  • China’s residential property sector is showing signs that stimulus measures are having an impact, according to data from China Real Estate Information Corp.
  • The value of new-home sales rose +7.1% YoY, a significant turnaround from the prior month’s decline.
  • The rise for October is the first YoY increase for 2024 indicating that the government stimulus measures are having an impact.
  • Having cut borrowing costs on existing mortgages, reduced deposit requirements and removed buying curbs in major cities, buyers have emerged as signs of confidence returning to the beleaguered sector. 
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  • China’s residential property sector is showing signs that stimulus measures are having an impact, according to data from China Real Estate Information Corp.
  • The value of new-home sales rose +7.1% YoY, a significant turnaround from the prior month’s decline.
  • The rise for October is the first YoY increase for 2024 indicating that the government stimulus measures are having an impact.
  • Having cut borrowing costs on existing mortgages, reduced deposit requirements and removed buying curbs in major cities, buyers have emerged as signs of confidence returning to the beleaguered sector.