News Snapshot:
The secondary housing market in Beijing picked up in March on favourable government policies, but slumped in top-tier cities like Shanghai and Shenzhen because of lockdowns to contain Covid-19 outbreaks. Transactions of lived-in homes in China’s capital rose to 15,771 last month, nearly double that in February. It was also the highest since last September when the nation’s US$1.7 trillion housing market started to unravel following a string of defaults by major developers. “Big cities like Beijing have a constant inflow of people and the demand is always strong,” said Yan Yuejin, director of Shanghai-based E-house China Research and Development...
