Stay updated with breaking news from Development Institution. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The introduction of "housing vouchers" for relocation projects in more than a dozen Chinese cities may help boost home transactions in local property markets that have been facing downward pressure since the beginning of the year, industry experts said on Wednesday.
Housing prices in 70 large and medium-sized cities across China declined at a more reasonable pace in May from the previous month thanks to a series of supportive measures to stabilize the market, and the sector's stabilization is coming soon, said industry experts.
Positive changes have taken place in the property sector thanks to a series of supportive measures to stabilize the market, and real estate's gradual stabilization will also promote overall economic stability in the second half, said the National Bureau of Statistics.
The latest reduction of a key benchmark lending rate in China on Friday significantly boosted market confidence, delivering a strong signal that the nation is determined to fully leverage multiple tools to safeguard economic stability, experts said.
In the property sector, more measures to stabilize the market are likely at the local government level, industry analysts said on Thursday.