The support of economy will be the key factor for the comeback of housing prices

By Melissa Lucas

Real estate, which once contributed to at least a quarter of China’s economy, remains a drag, despite a growing number of cities easing purchase restrictions.

Par for the course, the embattled real estate industry has become the painpoint of China economy. The government is struggling to boost home sales or increase liquidity by taking a series of stimulus and easing measures.

China announced “historic” steps in mid-May to stabilize the sector, with the central bank easing mortgage rules and facilitating 1 trillion yuan ($140 billion) in extra funding, and local governments committing to buying apartments.

It is too early to say the measures will work eventually. Because it is hard for housing prices to come back without the support of economy. Economic recovery and strong spending will only be the key catalysts for the comeback of real estate industry.

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