China home sales see first monthly rise in 2024 on stimulus blitz

Quick Summary:

Value of new home sales rose 7.1 per cent from a year earlier in October.

In late September, the trading hub of Guangzhou became the first tier-1 city to remove all restrictions buying residential property.

This uneven recovery underscores how transactions are skewed toward secondhand homes and those developed by state-owned companies due to the lack of fiscal support, Bloomberg Intelligence analyst Kristy Hung said in a note on Nov 1.

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Article Details

Category: EconomyBusiness

Markets: SingaporeChina

Topics: China’s First Months Sales Cent Property Year Rose China September Month

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-01 @ 12:01:00 (3 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 561 words

Reading Time: 4 minutes read

Sentences: 27 lines

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News ID: 23360213

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