BEIJING, March 16 (Reuters) - China's February new home
prices rose at the fastest pace since July 2021, official data
showed on Thursday, as Beijing's move to reopen the economy and
supportive property sector policies boosted demand.
New home prices in February edged up 0.3% month-on-month
from a 0.1% gain in January, according to Reuters calculations
based on National Bureau of Statistics (NBS) data released on
Thursday.
In annual terms, prices fell 1.2% for the 10th straight
month. Prices shrank 1.5% in January on an annual basis, with
the rate of decline unchanged from December.
Beijing's doubling down on policy support for the ailing
property sector since November last year has revived market
sentiment. Analysts say a pick-up in home sales, notably in
first-tier cities, is a positive sign but believe more
stimulative policies are needed for a broader-based recovery.
(Reporting by Qiaoyi Li, Liangping Gao and Ryan Woo; Editing by
Jacqueline Wong)
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