The downturn in China’s residential real estate sector slowed further in June, following government efforts to stabilize the housing market in major cities. Data showed that home sales among the top 100 property developers surged by 36.3% month-on-month, although they were down 16.7% year-on-year, totaling 438.9 billion yuan, according to CRIC data. This improvement comes as Chinese property developers rallied in the A-share market, with industry data indicating a narrowing year-on-year drop in sales. The latest China Beige Book release highlighted that both realtors and home builders reported month-on-month and year-on-year sales improvements, with the price index reaching its highest level since 2023. Beijing's housing rescue plan appears to be having a positive impact on the market. Despite these gains, the monthly performance scale of the real estate industry continues to maintain at a historically low level.
June's @ChinaBeigeBook release said green shoots may finally be appearing in China's housing market. Both realtors and home builders reported m/m and y/y sales improvements. The price index was highest since 2023. Beijing's housing rescue plan may at last be having an impact. https://t.co/jwtULk3JmG https://t.co/pCso3sE4fO
🇨🇳June new-home sales in #China's top 100 #property developers increased by 36.3% m/m or down 16.7% y/y, to 438.9 billion yuan, CRIC data showed. The monthly performance scale of the real estate industry continues to maintain at a historically low level. In the 30 key cities,… https://t.co/FG15iBWYZ1
#Chinese #property developers rally in A-share market after latest data showed improvement in #home sales in Jun. Industry data showed top 100 developers' sales surged 36.3% m/m in Jun, y/y drop narrowed https://t.co/haGgRmRP6L https://t.co/XepfhOSNvd
🇨🇳 #China’s Slump in Home Sales Slows After Cities Ease Policy - Bloomberg https://t.co/RaEP9AOLib https://t.co/8cYPamFGrc
“The downturn in China’s residential real estate sector slowed further in June, following the government’s efforts to put a floor under the housing market in some of its biggest cities.” https://t.co/yxx9utAwlp
The downturn in China’s residential real estate sector slowed further in June, following the government’s efforts to put a floor under the housing market in some of its biggest cities https://t.co/4D3lxeat2f