China's latest home prices data suggests a 0.1% decrease in February, signaling continued low demand in the troubled real estate sector, despite the government's pledge for additional stimulus measures. This decline comes after two months of relatively stable prices, as per Reuters' calculations relying on the National Bureau of Statistics data. Year-on-year, new home prices witnessed a 4.8% decrease, a slight improvement from the 5.0% drop recorded the previous month.

In its recent annual work report, the government highlighted the importance of halting the prolonged downturn in China's property market as one of its key objectives for the year. Policymakers have indicated plans to implement tailored policies at the city level to amend restrictions on home purchases while exploring the potential demand for primary residences and improved housing options.