Stimulus key to realty stability

Potential homebuyers ask queries on housing projects at a real estate agency in Beijing in March. The latest optimization measures adopted by China's major cities to absorb housing inventory have borne fruit, with buoyant market activity being witnessed, based on which experts said that they expect more policy fine-tuning to be unveiled to unleash even more potential demand, stabilize market expectations and promote real estate market stabilization. New home transactions in 15 major cities reached 14,685 units during the week between May 6 and Sunday, soaring 74.24 percent week-on-week, though registering a dip of 2.51 percent from a year ago, said the Zhuge Real Estate Data Research Center. "With the wrapping up of the May Day holiday, the pre-owned housing market showed rapid resumption, and we believe the measures announced ahead of the holiday contributed to the demand recovery," said Guan. Concerning property supply and demand, the CPC Central Committee Political Bureau meeting said Chinese people's expectations for high-quality housing, measures to digest property inventory and optimization of new demand should be handled in a coordinated manner.