New-home prices in 70 cities, excluding state-subsidised housing, dropped 0.2 per cent from October, the smallest decrease in 17 months, National Bureau of Statistics figures showed on Dec 16. Values of used homes fell 0.35 per cent, the least since May 2023.
China's housing downturn has weighed on Asia's largest economy for more than three years. The figures offer a glimmer of hope for the market after recent stimulus measures failed to sustain a rebound in sales - a prerequisite for putting a floor under prices, according to Fitch Ratings.
"The recovery is still fragile and not broad-based," said Mr Raymond Cheng, head of China property research at CGS International Securities Hong Kong. "Property markets in small cities are still very challenging with high inventory levels."
Bu hikaye The Straits Times dergisinin December 17, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Giriş Yap
Bu hikaye The Straits Times dergisinin December 17, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
Xie Shaoguang to play wealthy but lonely tycoon in first drama in 20 years
Local actor Xie Shaoguang will be back with a new drama on the small screen after 20 years.
Zakir Hussain was a peerless Indian tabla player
SAN FRANCISCO - Zakir Hussain, a peerless Indian tabla player who transcended genres and brought classical Indian music to a global audience, died on Dec 15. He was 73.
Oldest Miss France clinches crown, aged 34
PARIS - A 34-year-old flight attendant from the French Caribbean island of Martinique on Dec 14 became the oldest contestant to win the Miss France pageant.
Retired cop finds trove of unreleased songs by Michael Jackson
A retired California highway patrolman has stumbled into possession of a trove of unreleased Michael Jackson songs, which the world may never have a chance to hear.
Pianist Mao Fujita makes most of short pieces in delightful recital
The final piano recital of the calendar year, presented by Altenburg Arts, featured Berlin-based Japanese pianist Mao Fujita.
Netflix action thriller conjures airport anxieties of the holiday season
LOS ANGELES - For Welsh actor Taron Egerton, the Netflix action film Carry-On pays homage to Transportation Security Administration (TSA) workers and the on-the-job struggles they encounter, especially during the holiday season.
Lion King prequel shines new light on Scar's origins
The follow-up to 2019’s photorealistic remake deals with the sibling love between future rivals Mufasa and Scar
Spain probes 'misleading' holiday flat management firms
Spain's government has launched a probe into companies that manage short-term apartment rentals to tourists for alleged \"misleading practices\", as visitor numbers surge.
Find peace in Yogyakarta
Head to the Indonesian city for a calm experience and to explore Borobudur Temple
SET SAIL FROM DUBAI
Here are five highlights from Resorts World Cruises’ new sea voyage
