Economic Daily: Property market shows signs of stabilizing and bottoming out.

The National Bureau of Statistics announced on May 18th the statistical data on the basic situation of the national real estate market from January to April and the price changes of commodity housing in 70 large and medium-sized cities in April. From the recent data and market situation, the trend of stabilization in the Chinese real estate market is strengthening. Since April, some cities have continued the trend of improvement in the real estate market from March. In terms of prices, the number of cities with stable housing prices has increased. Some real estate-related indicators still show a downward trend, and this should be objectively and rationally viewed. From January to April, national real estate development investment decreased by 13.7% year-on-year. It should be noted that the decrease in real estate development investment and the reduction of new supply are not only a positive reflection of the strict control of incremental supply in various regions but also a result of market self-adjustment. The trend of stabilization in the real estate market is hard-won. All regions should continue to consolidate the foundation of stabilization, further tap market potential, gradually digest existing stock, promote supply-demand balance, and strive to stabilize the real estate market.