Related News
Home » Business » Real Estate
Smaller cities see faster growth in new home prices
Print Edition
NEW housing prices in China’s large cities remained stable as the government continued to implement new regulations, but those in smaller cities showed signs of faster growth.
On a month-on-month basis, new housing prices in 67 of the 70 major cities monitored by the government climbed in August, up from 65 in July, data from the National Bureau of Statistics showed over the weekend. Only one city, Xiamen in Fujian Province, recorded lower home prices.
Four first-tier cities, Beijing, Shanghai, Shenzhen and Guangzhou, saw new housing prices rise 0.3 percent in August, picking up from an increase of 0.2 percent in July.
The price increase in smaller cities was more robust than in large cities. New home prices in 35 third-tier cities climbed 2 percent month on month in August, accelerating from July’s rise of 1.5 percent, the bureau’s senior statistician Liu Jianwei said.
Compared with a year earlier, 68 cities registered price increases, with the cities of Haikou and Sanya in Hainan Province leading the gains, as prices there surged 21.4 percent and 21.2 percent, respectively.
Average new housing prices in the four large cities fell 0.1 percent year on year in the first eight months, compared with an increase of 14.6 percent during the same period of 2017.
This came after the central bank data showed last Wednesday that new household loans, most of which are mortgages, reached 701.2 billion yuan (US$102 billion) in August, expanding from 634.4 billion yuan in July.
During previous years, rocketing housing prices, especially in major cities, fueled concerns about asset bubbles. To curb speculation, China has rolled out a spate of control measures, including restrictions on purchases and increasing minimum down payments for mortgages.
The central authority vowed to regulate the property market order and “firmly curb the rise in housing prices” at a meeting of the Political Bureau of the Communist Party of China Central Committee in July.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
