China’s Home Sales Jump During Holiday as Cities Offer Perks
- Hurdles remain for sustained housing rebound, analysts say
- Property shares in Shanghai pare gains after economic briefing
Beijing city saw expressions of intent to buy new homes double in the first three days of October.
Photographer: Andrea Verdelli/BloombergThis article is for subscribers only.
China’s latest steps to revive the housing market have had an immediate impact, judging from reports of brisk sales and buyer interest during the nation’s week-long holiday. Whether the rebound will be sustained is another matter.
Average daily sales by area in 25 cities rose 23% compared with last year’s National Day celebrations, after accounting for seasonal differences, China Index Academy figures showed Tuesday. The numbers probably understate actual transactions because online deals have yet to be tallied, the analysts said.