Home prices on the rise again
July 9, 2012 Category Real estate, Weekly
Home prices in China rose for the first time in 10 months in June amid steadily recovering sales in major cities. Prices edged up 0.05% from May to CNY8,688 per square meter in 100 major cities across the country, ending a losing streak since September 2011, according to the China Index Academy. Prices dropped in 45 cities, compared with 73 in May, with 12 seeing falls of more than 1%, 5% fewer. Gains were posted in the other 55 cities, with 11 recording increases of more than 1%, up 3% from May. Year on year, however, home prices in the 100 cities have fallen 1.9% on average. Sixty-seven cities saw a loss in value, compared with 60 cities in May, the Academy said. “New home purchases continued to rebound in major cities since March and a recently fine-tuned monetary policy further helped trigger buyers’ sentiment,” the Academy said in a statement. “Some real estate developers recently stopped offering discounts or even raised their prices amid robust sales, leading to the slight price increase in June.” The average cost of homes in the 10 largest cities, including Shanghai, Beijing, Guangzhou and Chongqing, climbed 0.75% from May to CNY15,429 per sq m, with Beijing registering the biggest increase of 2.3%. Tianjin and Hangzhou were the only two cities among the 10 that reported monthly drops, shedding 0.6% and 0.1%, respectively. New home sales fell 13.5% year on year to 255.52 million sq m across the country between January and May, recovering from a 14.9% annual drop recorded during the first four months of this year, the National Bureau of Statistics (NBS) said last month. In Shanghai, new home purchases soared to their highest level in 17 months in June, according to the latest market research.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world