Mainland property agencies are reversing the sharp cuts they made to outlets and staff numbers last year and have begun expanding their presence to tap into the recent rebound in the property market.

Century 21 China Real Estate, which last year cut its Beijing outlets from 150 to 105 re-opened 10 offices in the first quarter of this year, noted CLSA analysts Nicole Wong and Chen Wenhan.

The move 'suggests the outlook is getting marginally better and is now comfortable enough even for very sensitive agency companies to take the risk of expansion,' they commented in their latest report on the mainland property market.

South China Morning Post