New Home-Prices in China Gain in Major Hubs as Easing Measures Helped in Boosting Demand
In March, the home-price gains in China accelerated as the economic hubs in the country like Beijing, Shenzhen and Shanghai spiked with increased liquidity highlighting the demand.
National Bureau of Statistics said on Monday, prices of new homes barring government-subsidized homes gained in sixty two cities. In February, the numbers were only forty seven out of seventy cities that the government tracks. In February, the gains dropped in fifteen cities but in March, the numbers slipped to eight.
To boost the housing market, earlier the government had adopted a stimulus of one-size-fits-all property but in March, it shunned the approach allowing more customized approach for specific the local levels. The easing measures ignited a buying spree in the countries major hubs.
However, now since there is no stimulus from the central government for perking up smaller local markets, the sustainability of the recovery process is a big question.
A Hong Kong-based analyst at Nomura Holdings Inc, Jeffrey Gao, said that given price rise in the recent months and tightening measures, "any further increases in first-tier cities going forward should be mild, if any."
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