Jan 1 2025: New home prices in China rose at a marginally quicker pace in December, according to a private survey released on Wednesday, as the struggling property sector seeks stability amid a wave of government support measures.
The China Index Academy reported that the average price of new homes across 100 cities increased by 0.37% month-on-month in December, slightly higher than the 0.36% growth seen in November. On an annual basis, prices climbed by 2.68%, up from 2.40% in the previous month.
The official home price data is scheduled for release by China’s statistics bureau on January 17.
In response to the property sector’s collapse in 2021—triggered by a government crackdown on heavily indebted developers—China’s policymakers have intensified their efforts to revive the market. Since September, measures to stimulate homebuying have included reductions in mortgage rates and minimum down payments, along with tax incentives.
