HomeReal EstateChinese Home Prices Break Four-Month Decline

Chinese Home Prices Break Four-Month Decline

The price of new homes in China rose by 0.05% on average in September, bringing an end to a four-month decline streak and marking the largest rise since October 2021. Data released by the China Index Academy on Sunday showed that just 30 of the 100 cities surveyed experienced pricing declines on average.

According to the real estate research firm, this rise in prices was driven by developers undertaking new, high-quality housing projects across the country. This provides a significant boost to the world’s second-largest economy given that the real estate sector makes up one-fourth of China’s total economic activity.

While a crackdown on debt accumulation by developers sparked the decline of the property sector in 2021, China has announced several measures in recent weeks to boost home sales, including the easing of borrowing rules and home purchasing regulations.

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