Beijing, Dec. 28 (Reuters) – Prices of new homes in China rose at a slightly faster pace in December, a private survey showed on Wednesday, as the crisis-hit property sector struggles to find a bottom on the heels of a slew of supportive government policies.
The average price of new homes across 100 cities edged up 0.37% from a month earlier, compared with the 0.36% rise in November, according to data from property researcher China Index Academy. On a year-on-year basis, the average price rose 2.68% in December, versus 2.40% growth in the previous month.
China’s policymakers in recent months have doubled down on their efforts to revive the sector, which crashed in 2021 after a government-led campaign to rein in indebted developers left them severely cash-strapped. Since September, measures aimed at encouraging homebuying have included cutting mortgage rates and minimum down-payments, as well as tax incentives.
Official data for home prices will be released by China’s statistics bureau on Jan. 17.
