Real Estate
China’s December Home Sales Stay Flat in Sign of Stabilization
- Value of new-home sales from biggest developers is unchanged
- Government stimulus included lower borrowing costs, taxes
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China’s residential property sales in December were flat on-year, avoiding a downturn seen much of 2024 and reflecting signs of market stabilization after the government’s stimulus blitz.
The value of new-home sales from the 100 biggest real estate companies for the month remained unchanged from a year earlier at 451.4 billion yuan ($61.8 billion), compared to a 6.9% on-year drop in November, according to preliminary data from China Real Estate Information Corp. Sales gained 24.2% from a month earlier.