By Lusha Zhang and Ryan Woo
BEIJING, Sept 29 (Reuters) – China’s home prices are expected to rise slightly more this year than expected, though at a slower pace than last year, as Beijing shifts to de-leverage the sector amid an economic recovery, a Reuters poll showed.
The pick-up could offer much-needed support to the country as it emerges from a coronavirus-induced economic slump. But policymakers are conscious of a property bubble risk, with new restrictions rolled out recently to prevent sharp price rises and control financing activity by developers.
Average residential property prices are estimated to rise 4.8% in 2020, according to 13 analysts and economists surveyed from Sept. 21-29.
The forecast was firmer than a 3.75% gain found in a June survey, but down from 6.6% growth in 2019. Home prices are seen slowing to 3% in the first half of 2021.
Daniel Yao, head of research