Q1 data herald realty market turnaround

Recovery of industry appears possible as demand solidifies, policies succeed

Overall property sales gained traction in the first quarter, with the residential segment ending a yearlong contraction, data from the National Bureau of Statistics showed.

This, experts said on Wednesday, shows China's real estate industry, for long troubled by heavy debt, may be on course to stabilization and a broad recovery appears possible in the following months.

As demand, including that from first-time home buyers and families seeking better homes, continues to solidify, property sales data are indicating positive changes in the first quarter. And data on investment in the industry, although still reflecting a downtrend, also suggest the overall situation will likely stabilize going forward, said Fu Linghui, spokesman of the NBS, on Tuesday.