CHINA China's housing market heats up in April: report

CHINA

China's housing market heats up in April: report

Xinhua

21:18, May 05, 2020

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File photo: CGTN

BEIJING, May 5 (Xinhua) -- China's housing market is showing signs of heating up amid the country's efforts in resuming normal economic activities, an industrial report said.

The search for housing increased 10.9 percent month on month in April, while the number of new houses for sale surged 56.2 percent from one month earlier, according to a report by online marketplace 58.com and housing information platform anjuke.com.

Home seekers seemed to regain confidence, as the confidence index stood at 102.7, up 1.8 percent month on month, the report showed.

Nearly half of the surveyed home buyers showed that 2020 is a good time for purchasing houses thanks to the quickened pace of work resumption and various incentives, it said.

The upturn mainly resulted from the intensive unleashing of pent-up demand, said Zhang Bo, a researcher with 58.com, noting that despite the growing appetite, the market is supposed to maintain moderate growth under the country's principle of "housing is for living in, not for speculation." 

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