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China housing price rises for 11th month
By Cherry Cao |
May 2, 2013, Thursday
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Online Edition
Online Edition
HOUSE prices in China rallied for another month in April though at a slightly slower pace.
The average price of new residential properties across 100 major cities rose 1 percent from a month earlier to 10,098 yuan (US$1,628) per square meter, extending strength for the 11 straight month, the China Index Academy said today. That compared to March's 1.06 percent increase.
Forty of the 76 cities that posted gains saw an increase of more than 1 percent. In March, 84 cities recorded month-on-month growth, with 51 registering a rise of more than 1 percent.
Hengshui in Hebei Province led last month's gainers with a 3.7 percent rise.
Twenty-four cities posted price drops, with five retreating more than 1 percent.
"With a notable retreat in sentiment amid an overall tightening environment across the country, purchases of both new and existing houses fell significantly from their March high in major Chinese cities," the academy said. "However, in first-tier cities and a couple of second-tier ones as well, home prices will likely go up further due to rather tight new home supply."
In the country's 10 largest cities, the average price for a new home rose 1.31 percent to 17,023 yuan per square meter last month, accelerating from a 1.25 percent growth in March. Beijing led all with a 3.11 percent monthly gain, immediately trailed by Guangzhou which saw a price rise of 2.41 percent. Shenzhen and Shanghai saw price gain 1.94 percent and 0.19 percent, respectively.
In Shanghai, a report released by Shanghai Uwin Real Estate Information Services Co found new home sales dived more than 40 percent from March as hectic selling and buying eased.
The average price of new residential properties across 100 major cities rose 1 percent from a month earlier to 10,098 yuan (US$1,628) per square meter, extending strength for the 11 straight month, the China Index Academy said today. That compared to March's 1.06 percent increase.
Forty of the 76 cities that posted gains saw an increase of more than 1 percent. In March, 84 cities recorded month-on-month growth, with 51 registering a rise of more than 1 percent.
Hengshui in Hebei Province led last month's gainers with a 3.7 percent rise.
Twenty-four cities posted price drops, with five retreating more than 1 percent.
"With a notable retreat in sentiment amid an overall tightening environment across the country, purchases of both new and existing houses fell significantly from their March high in major Chinese cities," the academy said. "However, in first-tier cities and a couple of second-tier ones as well, home prices will likely go up further due to rather tight new home supply."
In the country's 10 largest cities, the average price for a new home rose 1.31 percent to 17,023 yuan per square meter last month, accelerating from a 1.25 percent growth in March. Beijing led all with a 3.11 percent monthly gain, immediately trailed by Guangzhou which saw a price rise of 2.41 percent. Shenzhen and Shanghai saw price gain 1.94 percent and 0.19 percent, respectively.
In Shanghai, a report released by Shanghai Uwin Real Estate Information Services Co found new home sales dived more than 40 percent from March as hectic selling and buying eased.
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