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Home prices continue to rise
By Cao Qian |
July 24, 2010, Saturday
|
Print Edition
Print Edition
HOUSING prices in major Chinese cities remained stable last month as rein-in policies introduced by the central government are taking effect, the country's top planner said.
The average sales price for new residential properties in 36 large and medium-sized cities climbed 0.63 percent from May to 8,065 yuan (US$1,190) per square meter, according to a statement on the National Development and Reform Commission's website.
Sector by sector, budget homes and normal apartments dropped 1.36 percent and 0.27 percent, respectively, while high-end houses rose 5.11 percent from a month earlier.
New properties, including residential, commercial and industrial, sold at an average 8,542 yuan per square meter in June in the 36 cities. It represented a month-on-month increase of 0.74 percent and compared with a 0.81 percent gain in May and a 3.46 percent jump in April.
Home price rises, particularly in first-tier cities, have slowed since the government launched a series of tightening measures aimed at curbing housing speculation. With transactions slowing and price growth decelerating, housing prices will either remain stable or fall gradually, the commission said.
The National Bureau of Statistics said earlier this month that real estate prices in 70 major cities on the Chinese mainland rose at a slower 11.4 percent in June from a year earlier. On a month-on-month basis, they dipped 0.1 percent from May, the first drop in 16 months.
Nationwide, sales by area rose 15.4 percent to 394 million square meters between January and June, 7.1 percentage points lower from the first five months, the bureau said.
China raised the down-payment requirement on second-home mortgages to at least 50 percent from 40 percent in mid-April. The State Council issued a notice later saying that banks can suspend housing credit to third or more home buyers. In the latest effort, the country's housing and banking regulators and the central bank said banks should consider both the mortgage and home purchase records of people applying for second mortgages.
The average sales price for new residential properties in 36 large and medium-sized cities climbed 0.63 percent from May to 8,065 yuan (US$1,190) per square meter, according to a statement on the National Development and Reform Commission's website.
Sector by sector, budget homes and normal apartments dropped 1.36 percent and 0.27 percent, respectively, while high-end houses rose 5.11 percent from a month earlier.
New properties, including residential, commercial and industrial, sold at an average 8,542 yuan per square meter in June in the 36 cities. It represented a month-on-month increase of 0.74 percent and compared with a 0.81 percent gain in May and a 3.46 percent jump in April.
Home price rises, particularly in first-tier cities, have slowed since the government launched a series of tightening measures aimed at curbing housing speculation. With transactions slowing and price growth decelerating, housing prices will either remain stable or fall gradually, the commission said.
The National Bureau of Statistics said earlier this month that real estate prices in 70 major cities on the Chinese mainland rose at a slower 11.4 percent in June from a year earlier. On a month-on-month basis, they dipped 0.1 percent from May, the first drop in 16 months.
Nationwide, sales by area rose 15.4 percent to 394 million square meters between January and June, 7.1 percentage points lower from the first five months, the bureau said.
China raised the down-payment requirement on second-home mortgages to at least 50 percent from 40 percent in mid-April. The State Council issued a notice later saying that banks can suspend housing credit to third or more home buyers. In the latest effort, the country's housing and banking regulators and the central bank said banks should consider both the mortgage and home purchase records of people applying for second mortgages.
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