China's Property Market: Signs of Stabilization Amid Challenges

China's property market is showing signs of stabilization, with initial signs of home price stabilization reported by the National Statistics Bureau. Supporting policies are positively impacting the market, yet a year-on-year decrease in new home prices indicates ongoing struggles. Optimism remains for future trends.

China's property market is exhibiting signs of stabilization, according to a spokesperson for the National Statistics Bureau. The improvements in cash flows for developers highlight the effectiveness of the supportive policies in place.

However, recent official data revealed a concerning decline in China's new home prices for October, marking the most significant year-on-year drop since 2015. This underscores the ongoing challenges faced by the crisis-stricken sector.

Despite this setback, the National Statistics Bureau remains optimistic, forecasting a more stable trend in the property market's future trajectory.

(With inputs from agencies.)