China’s major developers saw property sales grow 5.6% on month in May, second-hand home sales in 50 major cities rose 14%

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China’s housing market is showing some signs of improvement in May from the previous month as the impacts of the Covid-19 outbreaks eased and the authority relaxed property policies, although property sales remained significantly lower than the level seen a year earlier.

The top 100 property developers' sales grew 5.6% in May from the previous month to 454.7 billion yuan, according to data from the China Real Estate Information Corp (CRIC), improving significantly from a 16% drop in April.

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