BEIJING, April 16 (Xinhua) -- Commercial home prices in March rose in more Chinese cities from a month ago as transactions became more vibrant in the real estate market, data from the National Bureau of Statistics (NBS) showed on Wednesday.

An NBS survey covering 70 major cities said the prices of new houses were higher in 24 cities last month, up from 18 in February, while resold homes in 10 cities logged price increases, up by 7.

Home prices in first-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, increased last month compared to February, while second- and third-tier cities in general registered narrowed price declines, according to the official data.

On a year-on-year basis, Chinese cities at large continued to see smaller home price drops in March, the NBS said.

Wednesday's data added to evidence that the property sector continued to stabilize last month thanks to government policies unveiled over the past few months to support developers and improve market sentiment.

Since the fourth quarter of last year, the central government has stepped up efforts to halt the downturn of the real estate market.

An integrated policy package has been rolled out to boost investment, accelerate the renovation of old urban neighborhoods, expand the supply of affordable housing, and implement a "white list" mechanism to direct financial support to qualified developers.

Analysts believe that at the heart of the efforts is a push to stimulate housing transactions.

"The policy mix -- including more flexible mortgage policies, lower interest rates on existing home loans, reduced taxes on home upgrades, and adjustments to the housing provident fund -- has eased the burden on homebuyers and further unlocked housing demand," said Hou Yongzhi with the Development Research Center of the State Council.

The property sector has begun to show signs of recovery over the past months.

"In March, we observed positive price changes in both new and second-hand housing markets across first-, second- and third-tier cities," Sheng Laiyun, deputy head of the NBS, told a press briefing on Wednesday.

Official data has revealed a notable narrowing in the year-on-year declines in both volume and value of new home sales in the first quarter, compared with full-year figures from 2024. Meanwhile, as market activity picks up, developers have reported better performance, and the contraction in both corporate and individual mortgage lending has slowed.

While the market currently remains in a period of adjustment, the long-term outlook is promising. Urbanization in China is far from complete, and demand for high-quality, green, and comfortable living spaces continues to grow.

For the first time, the phrase "quality homes" appeared in the government work report this year. The report published in March called for efforts to "improve the standards and regulations on building quality homes that are safe, comfortable, eco-friendly, and smart."

At the end of March, the Ministry of Housing and Urban-Rural Development released new national standards for residential projects, aiming to meet the people's demand for improved quality of living.

The new standards, effective May 1, include a minimum ceiling height of three meters for new residential buildings, up from 2.8 meters at present, mandatory elevators for structures with four or more floors, and enhanced sound insulation standards for walls and floors.

"Building quality homes will become a new track in the transformation of the property sector," said Chen Weiguo, chairman of China Construction Third Engineering Bureau Co., Ltd.

Authorities will continue to implement policies aimed at stabilizing the market, Sheng said. "We will intensify efforts to promote the construction of quality homes, foster a new development model for the real estate sector, and ensure its long-term healthy development," he said. Enditem

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