Measures effective in curbing home price rises
June 26, 2017 Category Real estate, Weekly
Fifteen Chinese cities where the strictest measures to curb speculation have been imposed registered slower year-on-year growth in new home prices for another month in May, evidence that the country’s hottest property markets continued to stabilize. The 15 cities, including Shanghai, saw year-on-year price growth decelerating 0.5- 6.4 percentage points compared with April, the National Bureau of Statistics (NBS) said. On a month-on-month basis, six cities recorded new home price gains, unchanged from April. “Around the country, first- and second-tier cities registered the most notable retreats in price growth in both new and existing markets,” said Liu Jianwei, NBS Senior Statistician. “For instance, in the four first-tier cities, year-on-year price growth of new and pre-owned houses both fell for the eighth consecutive month in May.” In second-tier cities, year-on-year price growth of new homes dropped for the sixth straight month in May and price growth of existing homes declined for the fourth consecutive month. Among the 70 cities monitored by the NBS, 29 recorded slower year-on-year new home price increases in May, compared with 30 cities in April. In the pre-owned home market, 18 cities registered slower year-on-year price rises. On a month-on-month basis, 26 cities registered slower new home price growth, an increase of three from April. In the pre-occupied housing market, 30 cities recorded slower growth, a rise of eight from a month ago. In Shanghai, new home prices remained unchanged from April and gained 12.9% from the same period of last year, the Shanghai Daily reports.
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