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Ni Hong, Minister of Housing and Urban-Rural Development, takes part in an interview on the sidelines of the annual meeting of the national legislature. /CFP
China’s top housing regulator said he is "full of confidence" that there will be a property market rebound this year after seeing positive signs in market supply and demand as well as expectations, on the sidelines of the annual meeting of the national legislature.
"I am confident that the property market will stabilize and rebound this year," Ni Hong, Minister of Housing and Urban-Rural Development, said during a group interview on Tuesday.
Ni said there had been a positive impact on both the supply and demand side of the real estate market since COVID-19 prevention and control policies were optimized.
In January and February this year, the sales of commercial housing across the country ended 13 months of negative growth and housing prices in 70 large and medium-sized cities remain generally stable, according to Ni.
Many housing projects have resumed work at a much higher rate and the transactions volume has improved significantly as the number of visits by buyers to check new homes is increasing significantly, Ni added.
Besides, Ni said that the government has introduced supporting policies for first- and second-time homebuyers and these measures have shown their effects.
China will prevent and defuse "grey rhino" risks in the property sector with more targeted measures, Ni said.
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Disinformation report hotline: 010-85061466