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China's new home sales jump after interest rate cut boosts demand

Housing sales surge 41% to 938.4 billion yuan from November and are 4.2% higher than a year earlier

Published Tue, Jan 20, 2015 · 09:50 PM
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Beijing

CHINA'S new-home sales jumped last month after the first interest rate cut since 2012 boosted demand and developers made more apartments available to tap improving sentiment in the nation's property market.

Housing sales surged 41 per cent to 938.4 billion yuan (S$202 billion) from November and were 4.2 per cent higher than a year earlier, making December the first year-on-year increase in 12 months, according to Bloomberg News calculations based on data released by the National Bureau of Statistics on Tuesday.

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