China’s home price declines eased for a second month last month, offering a rare glimmer of hope to the embattled property sector.
New home prices in 70 cities, excluding state-subsidized housing, fell 0.04 percent last month from December, when they dropped 0.28 percent, Chinese National Bureau of Statistics figures showed yesterday.
Prices in large cities rose.
Sentiment in China’s home market has been dented by a worsening liquidity crisis among real-estate developers following a regulatory clampdown on excessive leverage.
Shares of Chinese developers slumped yesterday after Zhenro Properties Group Ltd (正榮地產) said that it might not meet its obligations, another negative surprise