BEIJING, Jan. 5 (Xinhua) – New home prices in major Chinese cities have risen slightly after promotions and discounts by developers, with recent industry data suggesting that the real estate market is stabilizing after facing winds last year. is an approximate sign.
Prices in secondary cities, including some provincial capitals, rose 0.03 percent in December after falling 0.02 percent in November, according to the China Index Academy on Saturday.
In first-tier cities like Beijing, prices fell 0.07 percent, slightly slower than in November, when they fell 0.1 percent.
Buyers ’sentiment in the real estate market has been shaken since last year due to a liquidity crisis among developers, which delayed project completion and even led to the default of a number of bonds.
The government has called for a stable economy this year as the ruling Communist Party convenes a congress every five years and expects policies to support non-speculative home buyers.
In recent months, the government has eased property financing somewhat to prevent a difficult landing for the sector, although it has not lifted restrictions designed to reduce leverage and stop speculation.
Since November, measures have been introduced to increase home purchases in at least 10 cities, including reducing subsidies and taxes. Real estate firms have also offered discounts.
In the southern city of Shenzhen, some of the 290 units in the Logan Group project were sold after a Hong Kong-listed firm offered an average 8% discount on starting prices, the seller said.
New home prices in Shenzhen rose 0.05 percent a month after falling 0.15 percent in November, according to the China Index Academy. In Beijing, they fell 0.03% from a month earlier, almost unchanged from November.
The housing project, which went on sale in October in the capital’s eastern district of Tonzhou, offered buyers a 1% discount if they made an initial payment of seven days to a month, the seller said.
Homes for sale, valued at about 3 million to 8 million yuan ($ 1.26 million), are being built by borrower Yonggo Group, which in May bought a plot of land in Tonzhou in partnership with state-owned Beijing Urban Construction Group.
Half of all units were sold, the dealer said.
The official price data for the month of December falls on January 15th. ($ 1 = 6.3723 Chinese yuan renminbi) (Liangping Gao and Ryan Woo report; edited by Ana Nicolas da Costa)