The property sector, which along with construction accounts for about a quarter of China's GDP, is a key pillar of the country's growthPummelled by a housing crisis that caused a record-breaking slump last year, some Chinese property developers are starting to see light at the end of the tunnel, but analysts warn the sector is still on course to slow down in the long term.
That was exacerbated by the near bankruptcy of the former industry leader Evergrande and has spread to other developers, who are in turn shunned by potential buyers for fear of similar setbacks. The Covid-19 pandemic was an aggravating"anxiety" factor, causing many potential buyers to postpone purchasing a property, Yao added.
Of the 70 cities that make up the official list, 64 recorded a price increase -- up from 55 in February and 36 in January.