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.
