Home prices in major cities in mainland China stabilised, holding onto recent gains as lower borrowing costs and state-led measures to support developers helped inject confidence in the market.
Beijing and Shanghai recorded a 0.1 per cent and 0.5 per cent gain, respectively, while those in Guangzhou and Shenzhen declined 0.2 and 0.1 per cent, the report showed.
“This marks a phased victory for cities at all levels,” said Yan Yuejin, vice-president of E-House China Real Estate Research Institute in Shanghai. “Continued momentum will be needed in the second quarter” to sustain the market recovery over the past seven months, he added.
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China unveils policy package to guard against US tariffs ahead of trade talks in Switzerland
China unveils policy package to guard against US tariffs ahead of trade talks in Switzerland
