China Property News Turns Positive

As China's stimulation measures take effect, data suggest the price reductions, mortgage policies, and interest rates cuts are luring homebuyers back

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.

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