The results of a study published by China Index Academy showed that in April, prices for new housing in 100 Chinese cities rose again by 0.02% m/m, helped by government support measures that stimulated demand for housing in large and medium-sized cities.
The China Index Academy said that in April, an increase in housing prices was recorded in 30 cities, while in March, 41 cities reported an increase in prices.
China's real estate sector, which accounts for a quarter of the economy, suffered heavily last year amid coronavirus restrictions that hindered construction activity and negatively affected the mood of home buyers. In recent weeks, home sales in major cities have recovered, but consumer confidence remains volatile.
China’s home sales rose for a third month in April, adding to signs of a recovery after policymakers expanded support for the beleaguered sector. The value of new home sales by the 100 biggest real estate developers climbed 31.6% from a year earlier to RMB 566.5 billion ($81.9 billion), according to preliminary data from China Real Estate Information Corp. That compares with a 29.2% increase in March.