Property sales in Guangzhou, southern China, hit a six-year high in May.
New home sales in the metropolis reached 9,313 units—the highest figure in six years. Given the time lag between exchanging contracts and payments, the numbers show positive buying sentiment during March and April.
Analysts say relaxed property curbs, which started at the end of March, helped property agents in Guangzhou to secure deals.
But there were fewer transactions of existing homes in Guanghzhou in May than in April. Analysts say the policy change in March fueled the market for existing homes, and the peak of sales came in April.