Small cities seeing big realty moves

Sales trends give residential sector significance in China's growth story

The crucial property industry, one of the drivers of China's economic boom of the last three decades, will continue to stabilize and grow this year, if expectations of deputies attending the ongoing annual session of the National People's Congress are any indication.

Their expectation is in line with a consultancy's forecast. After a long time, changing consumer preference, brought about by market dynamics and tighter regulations, will prompt China's property industry to focus on smaller cities rather than metros this year.