Geng Guoqing for CHINA DAILY/Image
| The latest data from private property developers confirm that new home sales accelerated considerably in October following the government's stimulus policies, but doubts remain whether the upswing can be maintained until the end of the year. October new residential property sales in 30 cities rose 24.3 percent over September to 18.37 million square meters in total, according to E-House (China) Holdings Ltd, a leading real estate services company. A breakdown of the latest figures from E-House gives one of the most accurate pictures yet of how the measures have affected sales in cities. They show first-tier cities saw the strongest rebound, with total sales surging 40.3 percent over September. Third-tier cities saw the second strongest upsurge with combined sales up 35.8 percent, while second-tier cities such as Changchun and Nanchang, which are facing the country's largest housing inventory pressures - saw a pickup of 17.7 percent, according to the findings. Of the first-tier cities, Guangzhou saw the biggest month-on-month rise of 63.1 percent while Beijing saw the most moderate growth, of 17.4 percent. News Resource |
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