China’s Biggest Cities See Housing Market Pick Up After Easing
- Shanghai, Shenzhen buyers show interest in new and used homes
- Analysts, investors are optimistic worst of slump may be over
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Two of China’s biggest cities saw improvements in homebuyer sentiment last weekend after relaxing property restrictions, the first positive signs in months for the embattled real estate sector.
In Shanghai, about 90% of the more than 300 units offered at a new project over the weekend were sold, beating the sales-through rate for the same development in March. In Shenzhen, some developers saw buyer interest surge so much they rescinded discount offers. Existing-home sales recovered in both cities.