Chinese property prices witness mixed growth in April

Source: Xinhua | May 18, 2011, Wednesday |

Online Edition

Property prices in major Chinese cities showed mixed growth in April, with more cities reporting month-on-month increases in new commercial housing prices from March and lower prices for resold housing units, according to the National Bureau of Statistics.

April brought reports of month-on-month price growth for new commercial homes in 56 of the 70 cities currently being surveyed by the NBS, compared to 50 cities reporting the same growth in March.

New home prices declined from a month ago in 9 cities and stood unchanged in 5 cities, while 26 cities posted smaller monthly price gains. All of the cities that witnessed home price hikes posted increases of less than 1 percent, said the bureau.

Just 41 cities reported month-on-month price increases for resold housing units in April, down from 44 in March, according to the bureau.

Sixteen cities reported month-on-month price declines for secondhand homes in April. Secondhand home prices stayed unchanged in 13 cities, up from 10 in March, the bureau said.

Real Estate

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Chinese property prices witness mixed growth in April

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