Mild real estate recovery seen turning substantial

The real estate recovery, though still mild, is likely to become substantial on the back of policy incentives and higher sales later this year, officials and experts said on Tuesday after digesting the latest industry data released by the National Bureau of Statistics.

NBS data showed property sales and investment continued to decline year-on-year between January and April, with property sales recovering faster.

Property investment in the first four months fell 6.2 percent year-on-year, widening from a 5.8 percent year-on-year decline in the first quarter. Sales of commercial properties by floor area slid 0.4 percent over the same period, compared to a 1.8 percent fall in the first quarter.