Property recovery seems to be underway

Property investment and sales data from the National Bureau of Statistics indicate that a real estate recovery is taking shape, boding well for further market stabilization and providing a confidence boost in the coming months, experts said.

"The greatest change for real estate in the first two months was the positive growth in floor space of completed construction, ending 11 consecutive months of declines, which reflects the efforts in ensuring real estate property deliveries for over a year have made promising progress," said Li Yujia, chief researcher at the Guangdong Planning Institute's residential policy research center.

The amount of real estate space completing construction reached 131.78 million square meters, up 8 percent year-on-year, among which 97.82 million sq m of residential space was finished during the January-February period, up 9.7 percent from a year ago, NBS data published on Wednesday showed.