After a seven-month decline, new home prices in 100 Chinese cities remained unchanged in February, marking a positive turn in the country’s real estate market. According to the China Index Academy (CIA), one of China’s largest independent real estate research groups, relief measures in the real estate market contributed to this positive outcome, instilling buyer confidence.
CIA data shows that after falling 0.02% in January from December, new home prices were flat in February, indicating an improvement in the real estate market among large developers grappling with debt. Chinese authorities have taken various supportive measures to stimulate the market, such as relaxing property regulations and reducing borrowing costs.
The CIA reported that 26 cities saw increases in new home prices in February, compared to just 12 cities in January, signaling a gradual recovery in the property market.