BEIJING : China’s new home sales are likely to accelerate in June, according to a leading transaction data provider, signalling improving sentiment in the property market following a slew of stimulus measures this year and slightly easier COVID-19 curbs.
New home sales by floor area in 100 cities are expected to jump 21 per cent month-on-month to 25.06 million square meters, widening from a 14 per cent rise in May, E-house China Research and Development Institution forecast in a report published late on Tuesday.Authorities are scrambling to boost weak demand after a fall in sales in recent months, depressed by tight COVID-19 curbs and a slowdown in the world’s second-biggest economy.
