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Property Sales To Recover After Spring Festival Drop

CHINA PRESS
MNI (BEIJING)

China’s home sales are expected to gradually recover in 2024 following the Spring Festival's poor performance, according to industry insiders. A major real-estate company saw average daily sales of less than CNY300 million versus CNY400 million in 2023 during the festival, while another firm said overall performance was only 60% of last year, and believed China’s large increase in tourism this year had diverted attention away from home buying. According to the China Index Research Institute, the average daily transaction of new homes in 25 representative cities fell 27% versus last year’s festival. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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