As realty shares rally, housing hopes rise
Release time：2024-05-08 19:59:12 Source：International Inquest news portal
-
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）
- Previous：Rain cheque: The Singapore hotel that will pay YOU if there's a downpour
- Next：Biden revives effort to lower costs of caregiving for families
Related articles
- Wisconsin wedding barns sue over state's new liquor law requiring licensing
- Chinese auto industry hits milestones in 2023
- China moves to expand 5G coverage in outlying border regions, inhabited offshore isles
- Country presses the accelerator on rail development
- Britain's most notorious inmate Charles Bronson puts his parole bid in jeopardy after punch
- Xi Stresses Building General Offices of Party Committees, Governments into Model Organs
- Private sector to get active support for major projects
- Team China runs cold in World Cup warm
- The Eurovision Song Contest is kicking off with pop and protests as the war in Gaza casts a shadow
- Xi Focus: Xi Stresses Striving for Full Revitalization of Northeast China
- Two women embark on 500
- Parcel delivery sees booming growth
- Xi Story: Assessing Losses for Flood
- Xi Sends Congratulatory Letter to 2023 Pujiang Innovation Forum
- Disney's streaming business turns a profit in first financial report since challenge to Iger
- Boeing faces scrutiny again on quality control
- Phillies make Harden decision
- Nation's big progress in IP to help advance tech ties
- US service member shot and killed by Florida police identified by the Air Force
- Xi Urges Teachers to Contribute More to Realizing National Rejuvenation
Random recommendation
UN urges trillions in investments to salvage global goalsUN urges trillions in investments to salvage global goalsUN urges maximum restraint amid rising tensions between Iran, IsraelXinhua HeadlinesChina launches global consumption event series at heavyweight expoChina launches global consumption event series at heavyweight expoEnvoy: ChinaIndian investigating agency to question Delhi chief minister in liquor policy caseXi Meets Chinese Diplomatic EnvoysChina launches global consumption event series at heavyweight expo
- Copyright © 2024 Powered by As realty shares rally, housing hopes rise ,International Inquest news portal sitemap