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China's Housing Market Seen To Rebound In Q2 2023 - Yicai

CHINA PRESS
MNI (Singapore)

China’s housing market could bottom out by the second quarter next year as potential homebuyers may enter the market as confidence is restored following recent support for the sector, Yicai.com reported citing a report by China Real Estate Information Corporation. Recent measures to restore developers’ financing ability will ease their default risks and offset the downbeat expectations of the industry. The market may rebound in Q2 if the policy intensity can be maintained or strengthened into next year, but there is still uncertainty how long the market would consolidate near the bottom after the low appears, the newspaper said citing EH Consulting. In November, property sales by floor area in the key 30 cities decreased by 14% m/m, hitting a new low in a single month over the past six months, and the year-on-year decline further increased to 30%.

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China’s housing market could bottom out by the second quarter next year as potential homebuyers may enter the market as confidence is restored following recent support for the sector, Yicai.com reported citing a report by China Real Estate Information Corporation. Recent measures to restore developers’ financing ability will ease their default risks and offset the downbeat expectations of the industry. The market may rebound in Q2 if the policy intensity can be maintained or strengthened into next year, but there is still uncertainty how long the market would consolidate near the bottom after the low appears, the newspaper said citing EH Consulting. In November, property sales by floor area in the key 30 cities decreased by 14% m/m, hitting a new low in a single month over the past six months, and the year-on-year decline further increased to 30%.