Transitioning toward stable growth, quality--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
Real estate revenue to rebound in H2--China Economic Net en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
After a period of adjustment, China's debt-ridden real estate sector, which is still considered a key pillar of the world's second-largest economy, is seeing signs of stabilization. Such signs are particularly visible in first- and second-tier cities. Industry experts suggested the residential market may recover in the second half of the year on the back of sustained growth.
Due to the impact of COVID-19 outbreaks, weak market expectations and tepid demand, Chinese real estate developers' sales revenues were more than halved in the first six months. However, as the contagion is gradually being contained in major Chinese cities and home sales are progressively improving, property developers are expecting a better second half.