BEIJING, Jan 16 (Reuters) – China’s new house costs fell for the fifth month in December, official information confirmed on Monday, as COVID outbreaks damage demand, however the dismantling of strict pandemic curbs and hope for extra help measures have brightened the outlook.
New house costs in December declined 0.2% month-on-month，unchanged from the tempo in November, based on Reuters calculations primarily based on Nationwide Bureau of Statistics (NBS) information launched on Monday.
Costs dropped 1.5% year-on-year, falling for the eighth straight month. Costs slumped 1.6% year-on-year in November.
A flurry of property help measures for house patrons and property builders in current weeks, coupled with Beijing’s abrupt reopening final month cheered the market, however continued sluggish demand nonetheless constrains the restoration. (Reporting by Liangping Gao, Ella Cao and Ryan Woo; Modifying by Jacqueline Wong)