BEIJING :China's new home prices fell again in December as COVID-19 outbreaks hurt demand, with Beijing expected to roll out more measures to help sustain the recovery after the dismantling of pandemic curbs last month brightened the outlook.New home prices dropped both in monthly and annual terms, with conti
BEIJING :China's new home prices fell again in December as COVID-19 outbreaks hurt demand, with Beijing expected to roll out more measures to help sustain the recovery after the dismantling of pandemic curbs last month brightened the outlook.
The sector will remain sluggish in the short term, and likely to stabilise after the second quarter of the year, said Zhang Dawei, chief analyst at property agency Centaline.Prices in December declined 0.2 per cent month-on-month, the fifth straight month of decline and the same pace as in November, according to Reuters calculations based on National Bureau of Statistics data released on Monday.
Prices in Beijing and Shanghai rose at a slightly faster pace from a month earlier while prices in Shenzhen and Guangzhou fell at a slower pace, official data showed. A flurry of property support measures for home buyers and developers in recent weeks, coupled with Beijing's abrupt removal of its zero-COVID policy last month cheered the market.
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