The real estate market in the Chinese mainland is showing promising signs of recovery as home sales surged during the National Day holiday. This uptick comes in the wake of a series of property stimulus measures implemented since late September, aimed at revitalizing the sector.
China Media Group (CMG) reported on Saturday that the week-long holiday, which began on Tuesday, saw a significant increase in house visits—a key indicator of buyer interest. This was accompanied by a rise in home sales across various regions, reflecting growing confidence among potential homeowners.
The Ministry of Housing and Urban-Rural Development highlighted that over 50 cities introduced new policies to bolster the real estate market. Additionally, nearly 2,000 developments from more than 1,000 property companies participated in promotional activities, further driving demand.
These strategic measures are designed to stabilize the housing market and support economic growth in the Chinese mainland. By encouraging property purchases and enhancing buyer engagement, the government aims to ensure a robust and sustainable real estate sector moving forward.
Reference(s):
China's home sales rise after raft of measures: China Media Group
cgtn.com
