Urban used home holiday sales rise

Experts: Supportive policies, stronger sentiment to help realty get back on steady track in Q4

A number of Chinese cities saw pre-owned home transactions recover during the weeklong National Day holiday, while urban new-home sales remained tepid. But experts said that with policies gradually taking effect and home buying sentiment turning stronger, the sector is likely to stabilize in the fourth quarter.

During the holiday, the 50 key cities surveyed by Beike Research Institute reported a growth of about 54 percent year-on-year in daily preowned home transactions.

Beike said 90 percent of the 50 surveyed cities saw positive growth in existing home sales from a year ago. Dongguan and Foshan in Guangdong province; Chengdu, Sichuan province; Xiamen, Fujian province and Suzhou, Jiangsu province reported that housing unit transactions in the secondary market more than doubled.