Chinese real estate market seems to be modestly stabilising
New home prices in 100 cities of China fell 0.02% in December from a month earlier, narrowing from the 0.04% drop in November.
China's December new home prices declined at a slower pace compared with a month earlier, a private-sector survey showed on January 1, offering a tentative sign of stabilising demand after authorities took steps to avert a hard landing for the market.
New home prices in 100 cities fell 0.02% in December from a month earlier, narrowing from the 0.04% drop in November, according to data from China Index Academy, one of the country's largest independent real estate research firms.
In December, several cities also implemented measures to boost home sales and mitigate local property distress, including the providing of subsidies or deed tax cuts for home buyers.
China's top real estate regulator recently said it would keep its real estate policies consistent and stable, while strengthening coordination in areas including finance, and land and market supervision.