The downturn in China's residential real estate sector slowed in June, following government efforts to stabilize the housing market in major cities such as Shanghai, Shenzhen, and Guangzhou. Industry data showed that home sales by the top 100 developers surged 36.3% month-on-month, although they were down 16.7% year-on-year, amounting to 438.9 billion yuan. The easing measures led to a rally in the A-share market for Chinese property developers, with Hong Kong-listed mainland developers also opening higher. Despite these improvements, the real estate industry continues to perform at historically low levels, and China is expected to miss its growth target for 2024. June's China Beige Book release indicated that the price index was the highest since 2023, suggesting that Beijing's housing rescue plan may finally be having an impact.
Chinese developers are facing headwinds offloading new home inventory, despite a rebound in second-hand transactions in mega cities https://t.co/yt5oHZp69M
Chinese developers are facing headwinds offloading new home inventory, despite a rebound in second-hand transactions in mega cities https://t.co/Bhdi7NZb85
Mainland Chinese #property developers rally in HK after top 100 developers' sales surged over 36% from previous month, y/y decline narrowed significantly https://t.co/FTMLqUQgtI https://t.co/vVBD3vjsOS https://t.co/dNtHKWy75o
Mainland Chinese #property developers rally in HK after top 100 developers' sales in Jun came in stronger than market expectations https://t.co/FTMLqUQgtI https://t.co/Jmlqows3Os https://t.co/dNtHKWy75o
🇨🇳Hong Kong-listed mainland #property developers opened higher on Tuesday after the HKSAR Establishment holiday. New home sales by #China's top 100 developers rose 36% m/m, thanks to recent supportive measures. Hang Seng China Enterprises rises 0.9%. #China #property #Realestate https://t.co/2nWlAUwPIM https://t.co/5YyoGUvb9H
🇨🇳Hong Kong-listed mainland #property developers opened higher on Tuesday after the HKSAR Establishment holiday. New home sales by #China's top 100 developers rose 36% m/m, thanks to recent supportive measures. #China #property #Realestate https://t.co/HeHSRZSAFs https://t.co/5YyoGUvb9H
China June property sales improved sequentially (more red than green shades). Shanghai existing property sales also reported to be roaring back, especially those luxury units. That’s said, price/sqm still falling, more sales were done at lower prices. https://t.co/G7eZCrgONv
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
#China’s Slump in Home Sales Slows After Cities Ease Policy Shanghai, Shenzhen and Guangzhou announced easing measures China seen on track to undershoot growth target for 2024 https://t.co/SufcfZmV6l
China's Top Builders See Sales Jump 36 percent in June https://t.co/dVB527aLx3
#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