Chinese real estate market to develop with strong growth potential: official

The real estate market is still undergoing adjustments and there is significant room for growth in the sector, particularly for high-quality housing, an official from the National Bureau of Statistics (NBS) said on Wednesday.

Commercial home prices in March rose in more Chinese cities from a month ago as transactions became more vibrant in the real estate market, data from the NBS showed on Wednesday.

An NBS survey covering 70 major cities said the prices of new houses were higher in 24 cities last month, up from 18 in February, while resold homes in 10 cities logged price increases, up by seven.

"Whether in first-tier cities or second- and third-tier cities, and regardless of new or second-hand homes, housing prices are showing signs of improvement. In first-tier cities, prices have increased month-on-month, while in second-tier cities, they have remained stable. In third-tier cities, the decline in prices has lessened. This suggests that some of the real estate regulation policies are starting to show effects," said Sheng Laiyun, deputy director of the NBS.

"Overall, the real estate market is still undergoing adjustments, and there is a need to further release housing demand. In terms of growth potential, China's consumption structure is still upgrading, and urbanization is not yet complete. This means there is significant room for growth in the real estate market, particularly for high-quality housing, which continues to see strong demand," said Sheng.

Last month, Minister of Housing and Urban-Rural Development Ni Hong said that China will resolutely restore stability in the real estate market, with efforts to provide strong financing support for eligible housing projects and ensure timely delivery of homes to buyers.

While the government has rolled out a mix of policies to prop up the sector, more work will be done this year to consolidate the effects of related measures, including interest rate cuts, lending support and tax reductions, said the minister.

The ministry will expand a "white list" mechanism to ensure loans for property projects, and accelerate the renovation of urban villages and dilapidated housing. Reforms of fundamental mechanisms in real estate development, financing and sales will also be pushed forward to build a new development model for the sector.

Sheng said that more efforts will be made to ensure the sustained and healthy development of real estate market.

"Going forward, we need to effectively implement the central government's policies aimed at stabilizing and promoting the recovery of the real estate market. We will continue to boost the construction of high-quality housing, actively explore new models for real estate development, and ensure the sector's sustained and healthy growth," said Sheng.

Chinese real estate market to develop with strong growth potential: official

Amid the rubble and relentless hardship of the Gaza Strip, a young displaced musician refuses to let war silence his strings, playing every day to bring fleeting moments of joy to those around him.

Samih Al-Madhoon, a resilient young performer who is still only 18-years-old, has been left displaced at the Al-Shati Camp in Gaza, but his love for music burns strongly and gives him a sense of hope for the future, despite whatever challenges lie ahead.

The Israel-Hamas conflict saw him lose his home and most of the things he held dear in life, including having to leave behind his beloved musical instrument.

"I tried to stay consistent with my playing and my talent, and to stay continuing in this path, but unfortunately during this period of displacement I lost my oud. I lost my instrument, and I lost many things that belong to me in music. And I lost [the ability to play] musical notes," he said. However, when he finally returned to playing, holding his cherished oud in his hands once more, he said he cried at once again being able to express himself through music.

Al-Madhoon has continued his musical career with a sense of determination, persistence, and talent that belies the chaos he has witnessed all around him.

He said he wants to use his music to comfort his peers who are currently living in harsh conditions, and he is seen regularly performing to others as he looks to ease people's pain all around him.

"Through music, I deliver my voice and the voice of the people of Gaza Strip, and the people of Palestine in general, that we are people who love life and peace. During this period, during the war, I play to comfort them, to make them a little happier, and to change their mood," he said.

The young performer still hopes that he will be able to live a peaceful life and perhaps one day get the chance to pursue his musical dreams on bigger stages, instead of amid the ruins and rubble of the destroyed streets of Gaza.

"My wish is to live in safety and peace, build new houses for us, rebuild the home, rebuild my memories with music, return to learning music, and to be on big stages. And I hope that I can leave to complete my studies outside the Gaza Strip and become a maestro in music," he said.

Gaza musician bravely keeps on playing to deliver sounds of joy amid devastation