China's Stimulus Push Sees Real Estate Revival in October
- THE CHINA NOW
- Nov 20, 2024
- 2 min read
Summary
China's property market showed signs of recovery in October, driven by government stimulus measures and improving buyer sentiment.
Prices of pre-owned apartments rose in eight major cities, marking a reversal after 13 months of declines in first-tier cities.
The volume of second-hand apartment sales in Shanghai surged by 63% compared to September.
China's property market witnessed a noticeable improvement in October, fueled by a series of government stimulus policies aimed at reversing a prolonged downturn. The National Bureau of Statistics (NBS) reported that the prices of pre-owned apartments rose in eight major cities, including Beijing, Shanghai, Guangzhou, and Shenzhen, marking a turning point after 13 months of steady declines in first-tier cities.
