China house sales rose over the holiday period - property sector recovery? ...Middle East

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China house sales rose over the holiday period - property sector recovery?
China began its week-long National Day holiday on Tuesday October 1.In the week leading up to the holiday beginning Chinese authorities announced an array of economic stimulus measures. SOme of the measures were aimed specifically at the property sector, such as:reductions in down-payment ratiosreductions in mortgage ratesan easing in property buying restrictionsChina's state broadcaster CCTV reported a statement from the Ministry of Housing and Urban-Rural Development on Saturday saying that the measures are having success. The statement cited the number of people visiting houses and sales offices, as a reflection of buying intentions, along with increased participation in sales promotions.

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