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New home purchases rise in first 11 months
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NEW home purchases in China continued to rise at a slow pace in the first 11 months of this year, the National Bureau of Statistics said yesterday.
The value of new homes sold across the country between January and November rose 31.1 percent on-year to 5.87 trillion yuan (US$962 billion), slower than the 32.6-percent growth in the first 10 months and a 34.5-percent gain in the first three quarters, the bureau said.
Over the 11-month period, 988.71 million square meters of new homes were sold, up 21.3 percent from the same period a year ago.
But this was a slowdown from the annual growth of 22.3 percent in the first 10 months and the 23.9-percent jump during January-September.
In November, 131.5 million square meters of new homes were sold for 720.4 billion yuan, compared to nearly 92.9 million square meters valued at 604.8 billion yuan in October.
Home prices in China, however, continued to climb for the 18th consecutive month in November, according to a report released earlier by the China Index Academy.
The average price of new homes in 100 cities added 0.68 percent from October to 10,758 yuan per square meter last month, despite tightening measures remaining in place, and new curbs — including higher down payment for second-home buyers and increased threshold for home purchase for non-local families — being imposed in more than a dozen cities.
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