The stimulus party is in full swing. Shame about reality:
In the new home market, in the week of November 22 – 28, transaction volume in the 15 major cities reached 28,481 units, jumping by 37.12% from the previous week, according to Zhuge Zhaofang. In particular, new home transactions reached 2,350 units in Beijing, rising by 28.35% from the previous week. Transactions in Nanjing jumped 190.96% and in Chongqing surged 185.42%.
Xu Xiaole, chief analyst at Beike Research Institute, said that the pick-up was partly due to seasonal factor and also attributable to improving financing environment.
