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New home prices up in many cities in January
By Cao Qian |
February 18, 2011, Friday
|
Online Edition
Online Edition
JANUARY saw new home prices rising year-on-year in 68 out of the 70 major cities monitored across the country, with 10 of them reporting a hike of more than 10 percent, the National Bureau of Statistics said yesterday after adopting a new statistical method.
The new homes exclude those built for the affordable housing program of the government.
And 60 cities reported an average price increase of more than 3 percent from December. Three cities, including Chongqing which introduced a trial property tax before the Spring Festival, suffered drops, while the rest remained flat.
"With the new statistical method, the figures may, to some extent, better reflect the real situation, compared with the old method," said Sky Xue, an analyst with China Real Estate Information Corporation, a leading real estate information, consulting and online services provider in the country.
"But it is always the case that statistics are quite different from what ordinary people would perceive from their own experiences," Xue added.
For instance, Shanghai's new homes gained only 1.8 percent in prices in January from a year ago, according to the bureau.
New home prices stood at 22,992 yuan (US$3,494) per square meter in the city last month, according to an earlier report released by Shanghai Uwin Real Estate Information Services Co. That compared with 20,682 yuan per square meter in January 2010.
The new homes exclude those built for the affordable housing program of the government.
And 60 cities reported an average price increase of more than 3 percent from December. Three cities, including Chongqing which introduced a trial property tax before the Spring Festival, suffered drops, while the rest remained flat.
"With the new statistical method, the figures may, to some extent, better reflect the real situation, compared with the old method," said Sky Xue, an analyst with China Real Estate Information Corporation, a leading real estate information, consulting and online services provider in the country.
"But it is always the case that statistics are quite different from what ordinary people would perceive from their own experiences," Xue added.
For instance, Shanghai's new homes gained only 1.8 percent in prices in January from a year ago, according to the bureau.
New home prices stood at 22,992 yuan (US$3,494) per square meter in the city last month, according to an earlier report released by Shanghai Uwin Real Estate Information Services Co. That compared with 20,682 yuan per square meter in January 2010.
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