Related News
Home 禄 Business 禄 Real Estate
Major Chinese cities see property price declines
Online Edition
China's property sector continued its weakness in November but price declines have narrowed after government eased buying restrictions and cut interest rates to boost demand, official data showed today.
New home prices dropped in a total of 67 cities out of the 70 major cities tracked by the government, the National Bureau of Statistics said in a statement today. In Shanghai, new home price dropped 0.3 percent month-on-month, narrowing from the 0.7 percent drop in a month earlier.
"The shift of mortgage policies by local governments as well as the central bank's cut on interest rate have brought positive effect on new home sales across the country," said Liu Jianwei, the bureau’s senior statistician. Prices in the cities of Hefei, Nanjing and Shenzhen remained flat.
A total of 58 cities out of the 70 major cities saw prices of existing homes drop last month, compared with 64 in October.
Pre-owned home prices in four first-tier cities all posted monthly increases in November.
On the year-on-year basis, new home prices in 68 of the 70 cities declined, one more than in October.
"Housing price decline will continue going into next year, but the pace of adjustment will moderate and we expect the government will continue to ease housing policies with likely options including lower mortgage rates, tax incentives and easing down-payment requirement for second mortgage," said Zhu Haibin, China chief economist at JP Morgan China.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
