Shanghai's real estate market is experiencing a long-awaited rebound, with home sales rising sharply following the city's rollout of a new policy package to boost buyer confidence.
The new policy, released on Feb 25 this year, aims to ease homebuying restrictions in the mega city and boost buyer confidence.
With the seven-item policy package in effect for a month, the city's home transactions have continued to climb.
According to the Shanghai Housing Administration, a total of 25,700 new and existing houses were sold in the past month, covering 2.17 million square meters, up 11 percent compared to the same period last year. At a real estate agency in Xuhui District, a branch manager said that clients are making decisions more quickly, with more buyers closing deals within seven days and a noticeable increase in first-time homebuyer activity.
"So far in March, the number of active transactions for our listings has reached about 110 units, which is an increase of around 60 percent compared to January. The number of property viewings at our branch so far this month has already exceeded 280 groups, up more than 50 percent from January," said Huang Yan, real estate agency manager.
"Since the new policy was rolled out, the ceiling on housing provident fund loans has been raised, easing much of the pressure we face when buying a home," said a homebuyer surnamed Li.
So far in the first quarter of this year, Shanghai's resale housing market has shown positive changes in transaction volume, listings, prices, and market expectations, with supply and demand becoming more balanced.
Meanwhile, cities across the affluent province of Guangdong in south China, including Shenzhen, Huizhou and Zhongshan, have also rolled out new housing provident fund policies. These measures include raising loan limits and relaxing withdrawal conditions, and bring under coverage flexible employment personnel, all aimed at creating a more supportive environment for homebuying.
Shanghai sees surge in home sales in March
A Chinese mainland spokesperson on Wednesday slammed Taiwan leader Lai Ching-te over his latest remarks on cross-Strait relations, accusing him of promoting secessionism and escalating tensions across the Taiwan Strait.
Chen Binhua, spokesperson for the Taiwan Affairs Office of the State Council, said in a press release that Lai's speech marking his second anniversary in office was "filled with lies and deception, hostility and confrontation."
Chen accused Lai of stubbornly adhering to a secessionist stance in pursuit of "Taiwan independence," while exaggerating the so-called threats from the mainland and intensifying confrontation across the Strait.
Lai played an old trick of advocating the secessionist agenda on one hand and, on the other, calling insincerely for dialogue and exchanges with the mainland, attempting to mislead people in Taiwan and deceive the international community, he said.
Chen said that these common tricks have been seen through by more and more Taiwanese people. Their deceptive and provocative actions will be met with firm opposition from compatriots on both sides and the international community, and are doomed to fail.
Reaffirming the mainland's position on the Taiwan question, Chen said Taiwan has never been a country, is not one now, and will never become one in the future.
He described the Taiwan question as a historical issue left over from a Chinese civil war in the 1940s.
No election result in Taiwan could alter the fact that Taiwan is part of China or sever the historical and legal bonds linking the two sides of the Strait, according to Chen.
The mainland would never allow any person or force to pursue secessionist activities under any pretext, he added.
Calling secessionists "the chief culprit" who undermines cross-Strait peace, Chen said the mainland would continue to uphold the one-China principle and the 1992 Consensus, unite broadly with Taiwan compatriots, combat secessionist activities, and safeguard peace and stability across the Strait.
Central government spokesperson refutes Lai Ching-te's latest remarks, warns against secessionist moves
