In June, official data revealed a welcome trend in the Chinese mainland's housing market. Across 70 large and medium-sized cities, the drop in new home prices continued to ease on a year-on-year basis, sparking optimism among market watchers.
In the four first-tier cities – Beijing, Shanghai, Guangzhou, and Shenzhen – new home prices fell by 1.4% compared to last year. Notably, the pace of decline narrowed by 0.3 percentage points from May, a change that hints at the positive impact of recent supportive measures.
Yu Xiaofen, dean of the China Housing and Real Estate Research Institute at Zhejiang University of Technology, remarked, "The continuous rollout of a comprehensive package of policies has significantly improved the confidence of all parties in the market." This boost in confidence is seen as a game changer as young professionals and market enthusiasts keep a close eye on these evolving trends. 😊
The steady easing in the housing price decline highlights how proactive policy support can stabilize markets and inspire renewed confidence, offering fresh insights for entrepreneurs, students, and cultural explorers alike. Stay tuned for more updates as this trend continues to unfold!
Reference(s):
China's home price decline continues to ease amid policy support
cgtn.com
