China's June home sales up 33% on price cuts
[SHANGHAI] China's home sales rose 33 per cent in June from the previous month as price cuts by developers lured buyers.
The value of homes sold climbed to 591.2 billion yuan (S$118.3 billion) last month from 446.1 billion yuan in May, according to the difference between the National Statistics Bureau's data for the first half of the year and the first five months. That was the biggest monthly gain this year. The value of sales in the first six months fell 9.2 per cent to 2.56 trillion yuan from a year earlier, the data showed.
"We are seeing signs the market is stabilising," said Johnson Hu, a Hong Kong-based property analyst at CIMB Securities Research yesterday.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
US renters seeing chance of owning a home at record low: NY Fed survey
Shenzhen eases home buying to revive sales in China tech hub
Far East Orchard looks to sell Rendezvous Hotel Perth Central for A$18.5 million
Lendlease Global Reit’s committed portfolio occupancy rises to 88.8% in Q3
No bids for Pine Grove’s mega en bloc sale at S$1.95 billion price
China home sales slump 47% over May Day holiday vs 2023