Free Trial

CHINA STOCKS: China Property Sales Surge, Property Indices Higher

CHINA STOCKS
  • Sales of existing homes have surged in China's major cities, driven by supportive policies that have improved market sentiment. Beijing saw a 21% m/m increase in signed property deals, with 12,979 units sold by October 26. Shenzhen recorded over 4,800 deals, the highest ever, while Shanghai's transactions rose 50% m/m, totaling 14,385 units in the first 20 days of October. Across 16 major cities, home sales reached 54,000 units, up 11% from the previous month. Property-boosting measures implemented since late September are expected to continue driving sales, particularly in first-tier cities.
  • BBG China Property Developers Index is 2.70% higher today with CIFI rising 8.7%, China Fortune +8.40%, Greentown China up 6.5%, and China Vanke gaining 3.3%.
115 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Sales of existing homes have surged in China's major cities, driven by supportive policies that have improved market sentiment. Beijing saw a 21% m/m increase in signed property deals, with 12,979 units sold by October 26. Shenzhen recorded over 4,800 deals, the highest ever, while Shanghai's transactions rose 50% m/m, totaling 14,385 units in the first 20 days of October. Across 16 major cities, home sales reached 54,000 units, up 11% from the previous month. Property-boosting measures implemented since late September are expected to continue driving sales, particularly in first-tier cities.
  • BBG China Property Developers Index is 2.70% higher today with CIFI rising 8.7%, China Fortune +8.40%, Greentown China up 6.5%, and China Vanke gaining 3.3%.