SHANGHAI: The Spring Festival holiday, normally a slow season for home sales in China, has seen transactions pick up for pre-owned homes in some major Chinese cities, which experts say signals a potential rebound in the sector. Among them, transactions in four major cities situated in the Beijing-Tianjin-Hebei region – Beijing, Langfang, Tianjin and Shijiazhuang – continued their recovery after December, with total sales already surpassing December’s total, it added. Similar recovery signals appeared in terms of visits made by potential homebuyers to check apartments. After a two-month decline, the pre-owned housing market staged a positive growth month-on-month for home prices in January. Amid the rising activity in the pre-owned housing market, the new home sector has yet to show signs of a nascent recovery.

Source: The Star January 31, 2023 23:43 UTC