BEIJING : New home prices in more major Chinese cities extended gains in January, a private survey showed on Wednesday, offering tentative signs of improving market confidence, as a flurry of property policy easing steps take effect.New home prices rose month-on-month in 12 cities, up from 10 in December,
BEIJING : New home prices in more major Chinese cities extended gains in January, a private survey showed on Wednesday, offering tentative signs of improving market confidence, as a flurry of property policy easing steps take effect.
"The slowdown of the fall in home prices and the reduction in the number of cities with falling prices show the stimulative policies are taking effect and market confidence is showing signs of recovery," said the firm's analyst Cao Jingjing. The survey also showed six cities, notably the Chinese capital Beijing and the populous city of Chengdu in southwest China, reversed declines to post growth. In December, three cities swung from contraction to expansion.
A string of property stimulus policies and the lifting of COVID-19 containment measures since December have cheered markets and slightly boosted sentiment.
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