China's new home prices fell for a fourth month in November in monthly terms, weighed by a sluggish economy and a still-ailing property sector, official data showed on Thursday, but recent favourable policies and a relaxation in COVID curbs have burnished the outlook.
New home prices in November fell 0.2% month-on-month after a 0.3% slide in October, according to Reuters calculations based on National Bureau of Statistics data.
China has rolled out a flurry of measures to support its embattled property sector, which has been squeezed by a liquidity crunch. The steps included lifting a year-long ban on fundraising via equity offerings for listed property companies. Beijing's recent easing of COVID-related curbs is widely expected to benefit the property sector, as the country gradually pivots away from a zero-COVID policy that demanded economically disruptive lockdowns and mandatory quarantine in government facilities.
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