0900 GMT - Beijing may not be in a hurry to intensify property support after signs of resilience in the sector in recent months, DBS analysts say in a research note. China's property sales performance in 30 key cities remained decent in January while home prices also showed some improvement, they say. That suggests that the upcoming policy window for more stimulus at the National People's Congress in March could be delayed to late April, they say. However, local governments continue to face obstacles in buying back excess housing inventory to convert into affordable rental housing as they would need to purchase unsold units at a more than 30% discount to the average selling price in order to break even, DBS estimates. Developers might not be willing to take such a sharp discount and the rate of success in buying up unsold housing remains low so far, they say. (sherry.qin@wsj.com)
(END) Dow Jones Newswires
February 14, 2025 04:00 ET (09:00 GMT)
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