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New home price keeps rising in Chinese cities
By Ding Yining |
November 1, 2012, Thursday
|
Online Edition
Online Edition
CHINA'S new home price grew for the fifth straight month in October as property developers adopted flexible pricing strategies to lift sales, an industry report showed.
The average price of new residential properties across 100 mainland cities rose 0.17 percent from September to 8,768 yuan (US$1,405) per square meter, China's largest real estate website, Soufun.com, said today.
The figure is an annual drop of 1 percent from the same month of last year.
Fifty-six cities recorded monthly gains while 42 reported a price drop. Two remained unchanged.
Property prices are stabilizing and sales are picking up as more and more homebuyers are willing to sign deals in recent months.
In September, contract sales of new homes grew 19 percent from August to 540 billion yuan (US$85.7 billion) as sentiment improved in the traditional prime season for home sales, the National Bureau of Statistics said.
Wenzhou City in Zhejiang Province recorded the fastest monthly gain of 3.7 percent in October.
Prices of both new homes and existing homes in downtown areas in the 10 largest cities edged up 0.33 percent from a month earlier to 15,625 yuan per square meter.
The average price of new residential properties across 100 mainland cities rose 0.17 percent from September to 8,768 yuan (US$1,405) per square meter, China's largest real estate website, Soufun.com, said today.
The figure is an annual drop of 1 percent from the same month of last year.
Fifty-six cities recorded monthly gains while 42 reported a price drop. Two remained unchanged.
Property prices are stabilizing and sales are picking up as more and more homebuyers are willing to sign deals in recent months.
In September, contract sales of new homes grew 19 percent from August to 540 billion yuan (US$85.7 billion) as sentiment improved in the traditional prime season for home sales, the National Bureau of Statistics said.
Wenzhou City in Zhejiang Province recorded the fastest monthly gain of 3.7 percent in October.
Prices of both new homes and existing homes in downtown areas in the 10 largest cities edged up 0.33 percent from a month earlier to 15,625 yuan per square meter.
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