BEIJING, March 1 (Reuters) - The prices of new homes in
100 Chinese cities held steady in February versus January having
fallen for seven consecutive months, data showed on Wednesday,
as a flurry of property market easing measures improved buyer
confidence.
The flat reading followed a 0.02% decline in January from
December, showed data from the China Index Academy (CIA), one of
the country's largest independent real estate researchers.
The reading indicates improvement in a property sector
dogged by massive debt problems at major developers, after
authorities adopted a slew of supportive measures.
In February, 26 cities reported price increases, versus 12
in January, CIA said.
As many as 14 cities, including the eastern city of Nanjing
and southern city of Sanya, reversed declines to post growth. In
January, six cities swung from contraction to expansion.
Market activity is improving in some typically high-demand
cities, but the national property market still shows no obvious
signs of rebounding from its current slump, CIA said.
"The property policy environment is likely to remain
accommodative, with increased policy support on both the supply
and demand sides after the 'two sessions'," it said, referring
to an upcoming annual parliamentary meeting, at which the
government will set economic policies and targets for the year.
(Reporting by Liangping Gao and Ryan Woo; Editing by
Christopher Cushing)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.