A real estate complex under construction in Huai 'an city, Jiangsu Province, China, June 20, 2023.
New home prices in China rose slightly for a ninth month in May, a private survey showed, driven higher by a slew of supportive steps to prop up the nation's crisis-hit property sector.
The average new home price across 100 cities rose 0.25% on month in May, following a 0.27% gain in April, the data from real estate researcher China Index Academy showed on Saturday.
China's property sector, a pillar of the economy, has lurched from one crisis to another since 2021 after a regulatory crackdown on high leverage among developers triggered a liquidity crisis.
The government is struggling to boost home sales or increase liquidity by taking a series of stimulus and easing measures.
Persons:
Huai
Organizations:
China Index, China
Locations:
Jiangsu Province, China