Goldman with the note. An L-shaped recovery for Chinese property it is:
Bottom line:
The National Bureau of Statistics’ 70-city housing price data suggest the weighted average property price in the primary market stayed mostly flat sequentially in January after seasonal adjustments; house price rose in Tier-1, Tier-2 and Tier-4 cities but dropped in Tier-3 cities. The proportion of 70 cities that experienced sequentially higher property prices rose sharply in the primary market and also increased in the secondary market.
