During H2 2020, the government relaxed some preventive measures taken to combat the pandemic. Besides maintaining construction progress, developers have started using offline promotional channels. However, sales performance has remained depressed, since consumers have their own concerns, especially due to the uncertainty caused by the pandemic. Asking prices have remained flat too.
Furthermore, we have not yet seen the end of the pandemic. Again, this creates more uncertainty, although we have seen economic growth start to recover. Therefore, we predict this gloomy situation will continue into 2021.