ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

China's regional hubs ease restrictions to revive condo sales

COVID-related uncertainty and bubble risks loom over efforts to stoke demand

The property market and adjacent businesses are estimated to be responsible for almost 30% of China's gross domestic product.   © Reuters

BEIJING -- After months of limiting condominium sales to tame China's property bubble, provincial capitals and other big regional cities have begun lifting key restrictions in order to aid the country's economic recovery from the coronavirus pandemic.

New condo sales dropped 23% in March from a year earlier in terms of floor space, according to China's National Bureau of Statistics. Sales started declining on the year in July 2021 as the national government ramped up efforts to contain the bubble, and have been slow to recover even as regional cities have started offering tax relief and other incentives to would-be homebuyers.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more