The real estate industry indicated an uptrend first while downtrend later in the first half of the current year, as announced by CIA, the largest independent property research organization in China.
For instance, driven by the concentrated release of pent-up demand and the emergence of stimulus policy effects, transaction activities increased in the February-March period. However, in the April-June period this year, buyers’ sentiments worsened amid the stimulus policies being not as good as market players had expected. CIA forecasted that the sales area in the year of 2023 may likely remain stable compared to 2022 amid the expected improvement in real estate market in the second half of the current year, which will result in the slight rise in sales area in H2.