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China's home prices drop for 4th month
By Cherry Cao |
January 5, 2012, Thursday
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Print Edition
Print Edition
CHINA'S home prices fell in December for the fourth straight month, with those in the 10 biggest cities further extending losses, according to a monthly research released yesterday by the China Index Academy.
Home prices dipped an average 0.25 percent from November to 8,809 yuan (US$1,398) per square meter in 100 major cities across the country. In September, home prices shed 0.03 percent, the first monthly drop in a year. They edged down 0.23 percent in October and 0.28 percent in November.
Last month, prices fell in 60 of the 100 cities, compared with 57 in November, according to the data.
The average cost of homes in the 10 largest cities, including Shanghai, Beijing, Guangzhou, Shenzhen and Chongqing, fell 0.48 percent to 15,588 yuan per square meter in December. That compared with a monthly drop of 0.6 percent in November.
Of the 10 cities, Chengdu in Sichuan Province saw the largest fall of 1.1 percent while Shanghai's home prices dipped 0.42 percent from November, the data revealed.
Home prices dipped an average 0.25 percent from November to 8,809 yuan (US$1,398) per square meter in 100 major cities across the country. In September, home prices shed 0.03 percent, the first monthly drop in a year. They edged down 0.23 percent in October and 0.28 percent in November.
Last month, prices fell in 60 of the 100 cities, compared with 57 in November, according to the data.
The average cost of homes in the 10 largest cities, including Shanghai, Beijing, Guangzhou, Shenzhen and Chongqing, fell 0.48 percent to 15,588 yuan per square meter in December. That compared with a monthly drop of 0.6 percent in November.
Of the 10 cities, Chengdu in Sichuan Province saw the largest fall of 1.1 percent while Shanghai's home prices dipped 0.42 percent from November, the data revealed.
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