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Residential prices see slower pace of growth
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HOME prices in China climbed for the 20th straight month in January, but at a slower pace, according to a latest report released by the China Index Academy.
The average price of new homes in 100 cities nationwide gained 0.63 percent from December to 10,901 yuan (US$1,799) per square meter last month, the academy said. In December and November, the price added 0.7 percent and 0.68 percent respectively.
“Housing prices in the majority of Chinese cities continued to be rather stable for another month with a narrower growth being registered both monthly and annually,” the academy said.
“Expanded property curbs rolled out in many cities during the last quarter of 2013, coupled with a seasonal impact, jointly led to a cooler market in the first month of 2014.”
The prices in 62 cities nationwide climbed from a month ago, down from 68 in December. The prices in 20 of the cities gained above 1 percent, compared to 19 in December.
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