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.
Its figures also showed the largest number of monthly housing sales so far this year, with 27 of the cities monitored reporting transactions increased for the fourth consecutive month.