Caixin
Jun 29, 2022 08:19 PM
BUSINESS

China’s Property Market Has Bottomed Out, Top Developer Says

Vanke Chairman Yu Liang said that pre-owned home sales are rebounding as a result of cities relaxing their property policies. Photo VCG
Vanke Chairman Yu Liang said that pre-owned home sales are rebounding as a result of cities relaxing their property policies. Photo VCG

China’s real estate market has bottomed out and will recover slowly due to supportive measures from local governments, chairman of the country’s second-largest developer by sales said Tuesday.

Pre-owned home sales are rebounding as a result of cities relaxing their property policies, Yu Liang of China Vanke Co. Ltd. (000002.SZ) told a shareholders’ conference (link in Chinese) in the company’s hometown Shenzhen. “Some demand delayed by the recent Covid-19 outbreaks has been unleashed this month.”

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