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China’s home prices see mild increases in February

Abstract : China continued to see a generally stable housing market in February, with home prices in 70 major cities showing mild month-on-month increases, official data showed Monday.

BEIJING, March 15 (Xinhua) — China continued to see a generally stable housing market in February, with home prices in 70 major cities showing mild month-on-month increases, official data showed Monday.

New home prices in four first-tier cities — Beijing, Shanghai, Shenzhen and Guangzhou — rose 0.5 percent month on month in February, compared with a 0.6-percent increase registered in January, according to data from the National Bureau of Statistics (NBS).

A total of 31 second-tier cities saw a month-on-month increase of 0.4 percent in new home prices, while 35 third-tier cities witnessed a month-on-month rise of 0.3 percent in new home prices last month.

The resale home market in first-tier cities saw prices increase 1.1 percent month on month in February, edging down 0.2 percentage points from January.

Prices of resale homes in second-tier cities saw a 0.4-percent month-on-month increase, while those in third-tier cities climbed 0.2 percent.

On a year-on-year basis, new home prices in first-tier cities rose 4.8 percent in February, up 0.6 percentage points from January, while those in second-tier cities edged up 4.5 percent, compared with the 4.1-percent increase in January.

The resale home prices in first-tier cities grew 10.8 percent from a year earlier, expanding 1.2 percentage points from the growth in January.

Based on the relatively low base of the same period in 2020, the year-on-year increase of commercial housing prices in all three-tier cities expanded, said Sheng Guoqing, a senior NBS statistician. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s home prices see mild increases in February

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