China home prices fall at slower pace after policy support
The Straits Times|November 16, 2024
China's home price declines abated for a second month in October, aided by the country's recent policy support.

New-home prices in 70 cities, excluding state-subsidised housing, dropped 0.51 per cent from September, the slowest pace since March, National Bureau of Statistics figures showed on Nov 15. Values of used homes fell 0.48 per cent, the least in more than a year.

China in the past two months unleashed its strongest package of policies to boost the property market, including cutting borrowing costs on existing mortgages, relaxing buying curbs in big cities and lowering taxes on home purchases.

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