China Property News Turns Positive
Industry data seem to suggest that the first round of government measures aimed at reviving China's ailing property sector, including the deep cuts in interest rates, are having an impact. The Shanghai city government has reported that the nunber of new homes sold in November was 47% higher than the number sold in September and 36% higher than in October. Sales of existing homes in Shanghai were up 68% in November compared to the previous month. In Chongqing, sales volumes reached 1.38 million square meters in October and 1.1 million sqm in November, up from less than 1 million sqm in September.
To continue reading this article you must be a Bloomberg Professional Service Subscriber.
If you believe that you may have received this message in error please let us know.
- Tesla Unveils ‘World’s Fastest Production Car’ and Electric Big Rig
- Norway Idea to Exit Oil Stocks Is ‘Shot Heard Around the World’
- Getting a Dog May Save Your Life, Especially If You’re Single
- The Questionable Math Behind Manafort’s Extravagant Home Renovations
- Musk Dusts Off the Fundraising Playbook With Semi, Roadster Orders