PROPERTY EXPECTED TO SEE SOLID SPRING RECOVERY, EXPERTS SAY

Market buoyed by central authorities' policies, initiatives taken at local level

A property market recovery is likely to emerge in many cities in early spring, thanks to the central government's resolve to keep the market healthy and stable, coupled with heightened expectations of more supportive measures from local governments, industry experts said.

With the property market entering its traditional sales season in March and April, hopes for a boost in spring sales have been raised by multiple factors including positive signals from the two sessions, the effects of supportive measures announced by major cities, and the gradual recovery of market expectations and confidence.

The Government Work Report, delivered in March at the second session of the 14th National People's Congress, the nation's top legislature, outlined key tasks for the property sector. These tasks include defusing risks in the property market, accelerating efforts to foster a new development model for real estate, and increasing the construction and supply of government-subsidized housing.