Most China watchers are focusing on the stock market and the currency these days.
Is the stock market’s rally going to last? Will the International Monetary Fund accept China in its reserve currency basket? In the meantime they are missing a revival in the Chinese real estate sector.
In the last week of October, new home transactions soared 7.55 percent compared to the same period last year (measured in square meters), according to research firm JL Warren Capital.
And previously owned home transactions even went through the roof: They are up 51.2 percent over the year.
“In Q3, the mainland residential market picked up gradually amid a series of favourable policies. Luxury home prices gained further in Beijing, Shanghai, and Guangzhou, where the markets continued to clear inventories,” Knight Frank, a real estate research firm wrote in a report.
Policies have indeed been favorable after the real estate bubble started bursting in 2014.
