China Real Estate Sector to Recover Further on Favourable Policies, with Sales Reversing Negative Reading Seen throughout 2022

SHANGHAI, Mar 27 (SMM) -Data from the National Bureau of Statistics (NBS) show that the year-on-year decline in the sold area of commercial housing in China narrowed to 0.6% from January to February, and the sales volume achieved a year-on-year increase of 3.5%.

The cumulative growth rate stood at 8%, reversing the negative reading seen through 2022. Although the recovery of real estate is still relatively slow at present, the real estate development prosperity index has picked up for two consecutive months.

With the support of various favourable policies, the real estate sector will continue to recover.