Shanghai, Beijing Home Sales Surge After Policy Easing
- The two mega cities cut downpayments, eased mortgages
- New home sales in 30 major cities rose by 6% last week: HSBC
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Two of China’s biggest cities posted a jump in home transactions, following the latest policy easing efforts to improve sector sentiment.
The transaction area of Shanghai’s second-hand homes increased by 25.7% from Dec. 15 to Dec. 18, compared with the previous week, according to an HSBC Holdings Plc report on Wednesday. The average daily sales of new home units in the city rose nearly 41%, while that of Beijing jumped 122%.