China property market to stay upbeat this year

Hot demand: A worker at a construction site of a residential development on the outskirts of Shanghai. Residential property markets in major Chinese cities have seen a quick pick-up as the spread of Covid-19 is better controlled in China. — Bloomberg

SHANGHAI: Even after the May Day holiday, China’s residential property market will remain upbeat as demand is expected to be firm during the rest of the year in spite of the tightening of home-buying rules, according to industry insiders.

This could, however, still pose risks to those who may have entered the market purely for investment or speculative purposes, they said.