As realty shares rally, housing hopes rise
Release time:2024-05-09 02:55:06
Strong positive sentiment lifted Chinese real estate shares on Monday, prompting experts to express 。
Strong positive sentiment lifted Chinese real estate shares on Monday, prompting experts to express confidence that the recovering capital market confidence, coupled with local-level optimized property policies, will help stabilize the housing market. Property shares rose 0.67 percent on average, led by Hua Yuan Property that surged by maximum 10 percent, according to Stockstar, a provider of financial information. "The stock market's performance was in line with the central government's guidance as well as the latest policies at the local level," said Chen Jie, director of the Center for Housing and Urban-Rural Development with Shanghai Jiao Tong University. On April 30, the Political Bureau of the Communist Party of China Central Committee stressed that it is necessary to continue to take precautions and resolve risks in key areas. While implementing their respective local policy, key stakeholders in each city, including local governments, real estate enterprises and financial institutions, will take responsibility for ensuring the delivery of property projects to homebuyers and protect the latter's legitimate rights and interests. "The (April 30) meeting stressed that the delivered housing projects should be livable, equipped with all the supporting facilities, which will create related demand along the industry chain," said Li Yujia, chief researcher at the Guangdong Planning Institute's residential policy research center. On supply and demand, the meeting said Chinese people's expectations for high-quality housing, measures for the market's absorption of property inventory and optimization of new demand should be coordinated. The meeting also said close attention should be paid to building a new model for real estate development and promoting the high-quality development of the property industry. Beijing and Shanghai were among the first big cities to grasp the significance of the meeting. Several other cities are expected to further optimize their housing policies this month, said Yan Yuejin, director of the Shanghai-based E-house China Research and Development Institution. On April 30 itself, Beijing's municipal government said eligible households or single adults living in the national capital will be allowed to buy an additional apartment outside the Fifth Ring Road. On Friday, Shanghai launched a trade-in initiative for commercial real estate. For people mulling sale of their existing property to buy new homes, Shanghai proposed that potential homebuyers should first sign an expression of interest with developers of new housing projects, so that their existing homes can be given priority by real estate agencies in the secondary trading market. The transaction for a new home can be completed after the sale of the old home. More than 30 residential projects in Shanghai regions, including Jiading, Songjiang, Qingpu, Fengxian and Lin-gang Special Area, became the first batch of participants in the new initiative, according to Shanghai Observer, a Chinese-language news website.
(Editor:Wang Su)
Related articles
Stars quickly go from tight series over reigning Cup champ to big
DALLAS (AP) — The Dallas Stars got one day off between their Game 7 victory over last year’s Stanley2024-05-09Missouri House backs legal shield for weedkiller maker facing thousands of cancer
JEFFERSON CITY, Mo. (AP) — The manufacturer of a popular weedkiller won support Wednesday from the M2024-05-09Judge orders preventative detention for Iranian and 2 Peruvians in thwarted plot to kill Israelis
LIMA, Peru (AP) — A Peruvian judge has ordered 18 months of preventative detention for an Iranian an2024-05-09Southwest Airlines flight attendants ratify a contract that will raise pay about 33% over 4 years
DALLAS (AP) — Flight attendants at Southwest Airlines have ratified a contract that includes pay rai2024-05-09Taylor Swift devastates fans after missing Met Gala for eighth year in a row
Fans hoping to see Taylor Swift attend the Met Gala this year were left disappointed after the pop s2024-05-09Election 2024: Casey, McCormick to face each other in Pennsylvania Senate race
HARRISBURG, Pa. (AP) — Democratic Sen. Bob Casey and Republican challenger David McCormick will face2024-05-09
atest comment