China's Property Market Shows Signs of Recovery with October Sales Surge

Government stimulus measures have led to a rebound in home sales, although challenges remain in smaller cities.

Sales by China's top 100 developers rose 7.1% year-on-year in October, marking the first annual increase in 2024.
October saw a significant 73% rise in sales compared to September, indicating a positive response to stimulus measures.
New home prices in major cities like Shanghai increased, but smaller cities continue to struggle with buyer caution.
China's government introduced policies such as lower mortgage rates and relaxed buying restrictions to boost the market.
Analysts caution that sustained recovery depends on further support and addressing unsold housing stock in lower-tier cities.