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Home prices climb 0.33% in July
By Cherry Cao |
August 2, 2012, Thursday
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Print Edition
Print Edition
HOME prices in China rose on a monthly basis for the second month in July amid continuously improving sentiment across all property segments.
Average prices climbed 0.33 percent from June to 8,717 yuan (US$1,377) per square meter in 100 major cities across the country, according to China Index Academy's research released yesterday. That compared with a gain of 0.05 percent in June, which was the first month-on-month growth since September 2011.
Nationwide, prices advanced in 70 cities, compared with 55 in June, with 22 seeing gains of more than 1 percent. Losses were posted in the other 30 cities, with seven seeing falls of more than 1 percent.
Year on year, home prices in the 100 cities fell 1.77 percent on average, narrowing from a 1.9 percent decrease in June, the academy said.
"Notably recovering sales registered in residential projects around the country from mass market developments to luxury ones have been boosting real estate developers' confidence," the academy said. "Many of them have lost their zeal for discount promotions while robust transactions of upscale properties further helped raise average home prices."
The average cost of homes in the 10 largest cities, including Shanghai, Beijing and Guangzhou, rose 0.27 percent from June to 15,470 yuan per square meter, with Chongqing recording the biggest increase of 1.57 percent.
In Shanghai, the average value of new homes hit a record high in July despite a retreat in sales. New homes, excluding government-funded affordable housing, were selling at an average of 24,609 yuan per square meter across the city last month, up 2.2 percent from June and the highest registered so far, Shanghai Deovolente Realty Co said yesterday.
By volume, meanwhile, new residential properties totaling 859,000 square meters were sold during the period, down 15.9 percent from June, which saw the highest in 17 months. Among the city's 10 best-selling residential projects last month, four cost more than 30,000 yuan a square meter, Deovolente data showed.
A development in Changning District became the city's best-seller in July, with 356 apartments fetching an average 34,466 yuan per square meter, Deovolente added.
Average prices climbed 0.33 percent from June to 8,717 yuan (US$1,377) per square meter in 100 major cities across the country, according to China Index Academy's research released yesterday. That compared with a gain of 0.05 percent in June, which was the first month-on-month growth since September 2011.
Nationwide, prices advanced in 70 cities, compared with 55 in June, with 22 seeing gains of more than 1 percent. Losses were posted in the other 30 cities, with seven seeing falls of more than 1 percent.
Year on year, home prices in the 100 cities fell 1.77 percent on average, narrowing from a 1.9 percent decrease in June, the academy said.
"Notably recovering sales registered in residential projects around the country from mass market developments to luxury ones have been boosting real estate developers' confidence," the academy said. "Many of them have lost their zeal for discount promotions while robust transactions of upscale properties further helped raise average home prices."
The average cost of homes in the 10 largest cities, including Shanghai, Beijing and Guangzhou, rose 0.27 percent from June to 15,470 yuan per square meter, with Chongqing recording the biggest increase of 1.57 percent.
In Shanghai, the average value of new homes hit a record high in July despite a retreat in sales. New homes, excluding government-funded affordable housing, were selling at an average of 24,609 yuan per square meter across the city last month, up 2.2 percent from June and the highest registered so far, Shanghai Deovolente Realty Co said yesterday.
By volume, meanwhile, new residential properties totaling 859,000 square meters were sold during the period, down 15.9 percent from June, which saw the highest in 17 months. Among the city's 10 best-selling residential projects last month, four cost more than 30,000 yuan a square meter, Deovolente data showed.
A development in Changning District became the city's best-seller in July, with 356 apartments fetching an average 34,466 yuan per square meter, Deovolente added.
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