Home purchases in some major mainland cities rebounded last month, but property consultants are unimpressed.
Although more buyers seemed to be willing to enter the market, driven by central government stimulus measures and continued price cuts by developers, property consultants say the rebound could be short-lived as most potential buyers were still waiting in the hope of a new round of policies to boost the industry.
In Shenzhen, 6,435 transactions for new residential properties took place last month, an increase of 90 per cent from October, according to official figures. Agents said the number of transactions in Shenzhen's secondary market rose 30 per cent to 4,500 last month.
Beijing saw new home sales jump 64 per cent month on month, while Shanghai witnessed a 36 per cent rise. Chongqing recorded a similar spurt.
South China Morning Post