Try GOLD - Free
China home sales see first year-on-year rise of 2024 on stimulus blitz
The Straits Times
|November 02, 2024
China's residential property sales rose in October, the first year-on-year increase of 2024, as the government's latest stimulus blitz brought back buyers.
-
BEIJING -
The value of new home sales from the 100 biggest real estate companies rose 7.1 per cent from a year earlier to 435.5 billion yuan (S$81 billion), reversing from a 37.7 per cent slump in September, according to preliminary data from China Real Estate Information. Sales surged 73 per cent from a month earlier.
The improvement came after China unleashed its strongest package of measures, including cutting borrowing costs on existing mortgages, relaxing buying curbs in big cities and easing down payment requirements.
That said, the recovery was lopsided, with state developers benefiting the most from the stimulus.
This story is from the November 02, 2024 edition of The Straits Times.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM The Straits Times
The Straits Times
Students lead effort to save birds from crashing into iconic NTU building
Birds would fly straight into the glass facade thinking the windows are part of landscape
4 mins
November 03, 2025
The Straits Times
'What we promise, we deliver': Sunway founder on building a legacy of trust
Tycoon seeks to make conglomerate a major gateway from S'pore to Malaysia
4 mins
November 03, 2025
The Straits Times
Why renewables are difficult to talk about at UN climate summits
When the 2035 climate targets of countries are scrutinised at the upcoming United Nations climate change conference COP30 in Brazil, the spotlight will be on whether the nations have done enough to meet a collective goal to ramp up clean energy adoption.
4 mins
November 03, 2025
The Straits Times
Benz Hui's family to donate all condolence money to charity
All the condolence money for veteran Hong Kong actor Benz Hui will be donated to the Children’s Cancer Foundation, his family said in an obituary released on Oct 31.
1 mins
November 03, 2025
The Straits Times
Dear Evan Hansen still moves with its message of feeling included
The title's second outing in Singapore features a larger cast and set, and has maintained the relatability and heart of the story
2 mins
November 03, 2025
The Straits Times
From Vanuatu to Yishun: The plant giving S’pore fall colours all year
As the weather cools in the Northern Hemisphere, fall foliage is sure to draw the eye. But even in tropical Singapore, the colours of autumn can be enjoyed year round - in Gardens by the Bay and along the country’s streetscapes, from Yishun to Bukit Panjang.
5 mins
November 03, 2025
The Straits Times
Nearly half of Cat A COEs go to EVs in first 9 months of 2025
EVs make up 43% of new car registrations, up from 33.8% in 2024 and 18.2% in 2023
2 mins
November 03, 2025
The Straits Times
Youth who faced family tragedy among 12 inaugural President's Challenge fellows
Growing up in a troubled family, Ms Shirlene Ng was 13 when she witnessed her mother take her own life. Her mental health took a hit.
3 mins
November 03, 2025
The Straits Times
An uneven muddle of themes and genres
A deeper dive into the intergenerational female trauma of Congratulations, Get Rich! would make for a — pun intended — richer story
2 mins
November 03, 2025
The Straits Times
Backyard cafes in JB village give owners hope of lease extension
Locals bank on increased economic activity boosting their case, preserving area’s heritage
5 mins
November 03, 2025
Listen
Translate
Change font size