A countrywide surge in sales since the beginning of the year has injected a sense of optimism that the worst is over for the mainland property market and a sustainable rebound is under way.
The market improvement was proven by inventory depletion as well as price stability in some cities, analysts said.
While optimists said home buyers had regained confidence after the government's stimulus package including falling mortgage loans and lower transaction tax expenses, some said the rebound was spurred by pent-up demand and bargain prices.
They were also concerned that prices were not following deal volumes higher.
'It is definitely a sustainable volume recovery,' said Lee Wee-liat, a property analyst at investment brokerage Nomura International HK.
South China Morning Post