BEIJING :China's new home prices were unchanged in June, the weakest result this year, official data showed on Saturday, as broad efforts have not revived the crisis-hit property sector with recovery waning in the world's second-biggest economy.The flat result from a month earlier was below May's 0.1 per cent
BEIJING :China's new home prices were unchanged in June, the weakest result this year, official data showed on Saturday, as broad efforts have not revived the crisis-hit property sector with recovery waning in the world's second-biggest economy.
China's property sector, accounting for one-fourth of China's economic activity, slumped sharply last year, with developers defaulting on debt and suspending construction of presold housing projects. Measures have ranged from extended financial support for developers to multi-pronged incentives for home buyers. But the uncertain economic outlook and persistent weakness in the sector have dented confidence and home demand, dampening hopes for any quick revival.There is room for"marginal optimisation" of property polices considering profound changes in supply and demand in the real estate market, Zou Lan, a senior official at China's central bank, said on Friday.
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