Mar 01, 2022 05:55 AM

ECONOMY

More Cities Expand Easing Measures to Bolster Housing Market

By Chen Bo and Han Wei

Sales of new homes by China’s top 100 property developers dropped 3.5% to 11.1 trillion yuan ($1.8 trillion) in 2021, the first annual decline in more than a decade

Sales of new homes by China’s top 100 property developers dropped 3.5% to 11.1 trillion yuan ($1.8 trillion) in 2021, the first annual decline in more than a decade

More Chinese cities jumped on the bandwagon to ease rules for homebuyers in hopes of bolstering the beleaguered real estate market, which is weighing on the economy.

Since mid-January, 15 Chinese provinces and cities tweaked policies to relax requirements on home purchases, including cutting down payment requirements for certain buyers, according to research by industry consultancy Centaline Property.

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