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Home prices in China resumed its growth after stalling in February due to the pandemic. The resurgence implies pent-up demand as the effects of the outbreak steadily eased on property markets.
China has recently lifted curfews and lockdowns as authorities slowly brought the COVID-19 pandemic under control.
Average new home prices in 70 of China’s major cities grew by 0.1% in March from the previous month with figures remaining unchanged for February. The data comes from Reuters’ calculation based on Thursday’s report by the National Bureau of Statistics (NBS).
On a year-on-year basis, home prices grew by 5.3% in March after dropping from a 5.8% uptick in February.
Leading property developers including Evergrande has launched discounts and promotions to bolster home sales. This led to property sales soaring 136.2% last month according to data from researcher CRIC based on the nation’s top 100 developers.
Developers said that sales would resume in April as the world’s second-largest economy is expect to make a major recovery in March. However, analysts cautioned consumers over lingering virus fears and possible job losses.
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Britain on Wednesday signed a supply deal for up to 60 million doses of a possible COVID-19 vaccine that is being developed by pharmaceutical companies GlaxoSmithKline (GSK) and Sanofi. The financial details of the agreement were not disclosed. However, ...
KYC Policy