SHANGHAI (BLOOMBERG) - Residential home prices in China rose in March as pent-up demand after a period of lockdown during the height of the coronavirus supported sales.. Read more at straitstimes.com.
SHANGHAI - Residential home prices in China rose in March as pent-up demand after a period of lockdown during the height of the coronavirus supported sales.
Values for second-hand residences, which are free of government intervention, rose 0.05 per cent after a slim decline in February. The reading is the first proper insight into China's virus-hammered home market as authorities gradually lift restrictions and allow residents to get back to work. Last month, prices in about one-quarter of cities monitored by the statistics bureau were deemed unchanged due to a lack of activity.
Whether the slight home-price growth in March is a precursor to a full rebound remains to be seen. State-owned newspapers have reported that the virus won't change President Xi Jinping's stance that homes are for living in, not for speculation. There's also a chance China's provinces will shut down again should there be a second surge in virus cases.
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