China Home Sales Slump Eases After New Government Support
Recently loosened mortgage policies will fuel housing demand in the short term by enhancing affordability.
Photographer: Andrea Verdelli/BloombergThis article is for subscribers only.
The downturn in China’s residential real estate market weakened in May, suggesting that the government’s recent efforts to revive the market are beginning to take hold.
The value of new-home sales from the 100 biggest real estate companies dropped about 33.6% from a year earlier to 322.4 billion yuan ($44.52 billion), compared with a 45% decline in April, according to preliminary data from China Real Estate Information Corp. Transactions gained 3.4% from April.