Newly released data has shown that new home prices in China have slightly increased in September, ending a four-month consecutive decline, as developers has benefited from a series of recent support measures, Invest-Gate reports.

A survey conducted by China Index Academy, a real estate research firm, revealed that prices rose by 0.05% on average compared to the previous month, following a decrease since May. Only 30 of the 100 surveyed cities experienced a drop in new home prices.

The company’s report stated that this is the largest monthly increase since October 2021, primarily due to developers launching new distinctive residential projects.

Moreover, confidence in the real estate sector, which accounts for a quarter of China’s economic activity, has been affected since 2021, when Beijing implemented strict measures to tackle the accumulation of corporate debt in the real estate industry.

Furthermore, this has fueled a debt crisis, and the escalating problems in the sector this year have impacted the world’s second-largest economy and shaken global financial markets.

Notably, In recent weeks, China has announced a series of measures to boost home purchases, including easing some lending rules and relaxing restrictions on home buying in certain cities.