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Value of new homes sold falls slowly
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THE value of new home sales continued to fall slowly in China in the first four months of this year, data released yesterday by the National Bureau of Statistics showed.
Nationwide, over 1.49 trillion yuan (US$240 billion) worth of new homes, excluding government-subsidized affordable housing, were sold in China between January and April, an annual drop of 2.2 percent, the bureau said in a statement on its website. The decline compared with a 9.1-percent drop in the first quarter and a 16.7-percent tumble in the first two months of this year.
By area, 232.84 million square meters of new houses were sold in the country during the four-month period, a drop of 5 percent from the same period a year ago.
The decline, again, slowed from a 9.8 percent fall between January and March and a 17.8-percent retreat in the first two months.
“The recent introduction of a series of easing policies is taking effect in boosting market demand while real estate developers are also launching more sales campaigns along with ample supply,” said Wang Baobin, a senior statistician at the bureau.
“In particular, the rebound is significant in first- and second-tier cities which are usually more sensitive about government policies,” Wang said.
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