Data from the Chinese government also showed that property prices in urban regions have also once again begun to rise; a development which could attract foreign buyers back to the market.
Despite the green shoots, one expert has warned foreign investors that the increase may only be temporary.
Axia Fx reported that Xing Ziqiang, an economist at Beijing’s China International Capital, said: ‘Property sales are in an early recovery in major Chinese cities as prices drop to an acceptable range for some buyers.
‘However, property prices may need to drop another five to ten per cent to ensure a sustainable recovery in both sales and property investment.’
Alongside India and Brazil, China is anticipating healthy economic growth despite the global recession. According to the latest International Monetary Fund statistics, gross domestic product will rise by eight per cent next year.