Home prices continue dropping
November 24, 2014 Category Real estate, Weekly
Home prices in China continued to fall in October. The number of Chinese cities where prices fell month-on-month was unchanged at 69 last month while prices were flat in Zhengzhou, Henan province. New home prices in Qinhuangdao, Hebei province, fell 1.6% from September to lead the drop nationwide. Of the four first-tier cities, new housing prices in Beijing dropped 1.3% from September, followed by a 1.2% retreat in Guangzhou and a 0.7% loss in Shanghai. On an annual basis, new home prices in 67 of the 70 cities declined, nine more than in September. The value of new houses sold across the country fell 9.9% in the January-October period from a year ago to CNY4.63 trillion.
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