New home sales in­creased in Oc­to­ber

China Daily (Canada) - - NEWSCAPSULE -

New home sales ac­cel­er­ated con­sid­er­ably in Oc­to­ber fol­low­ing the gov­ern­ment’s stim­u­lus poli­cies, but doubts re­main whether the up­swing can be main­tained un­til the end of the year.

Oc­to­ber new res­i­den­tial prop­erty sales in 30 ci­ties rose 24.3 per­cent over Septem­ber to 18.37 mil­lion square me­ters in to­tal, ac­cord­ing to E-House (China) Hold­ings Ltd, a lead­ing real es­tate ser­vices company.

Its fig­ures also showed the largest num­ber of monthly hous­ing sales so far this year, with 27 of the ci­ties mon­i­tored re­port­ing trans­ac­tions in­creased for the fourth con­sec­u­tive month.

Gov­ern­ment mea­sures aimed at ex­pand­ing the pool of po­ten­tial home­buy­ers were in­tro­duced on Sept 30 to avert a sharp slow­down in the coun­try’s prop­erty mar­ket, in­clud­ing an eas­ing in mort­gage rules and the amount buy­ers can bor­row. Mort­gages on sec­ond homes, for in­stance, are now treated as a first mort­gage if the buyer has paid off the first loan.

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