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China’s housing prices remain stable in November

Abstract : China's housing market remained stable in November, with slower month-on-month growth in home prices in major cities, official data showed Monday.

BEIJING, Dec. 14 (Xinhua) — China’s housing market remained stable in November, with slower month-on-month growth in home prices in major cities, official data showed Monday.

New home prices in four first-tier cities — Beijing, Shanghai, Guangzhou and Shenzhen — rose 0.2 percent month on month in November, 0.1 percentage points slower from the previous month, according to data from the National Bureau of Statistics (NBS).

On a month-on-month basis, new home prices in 31 second-tier cities and 35 third-tier ones both edged up 0.1 percent.

Prices of resold homes in first-tier cities edged up 0.5 percent month on month in November, with the rise unchanged from the previous month. Prices in the resold home market in second-tier cities went up 0.1 percent and third-tier cities saw a month-on-month growth of 0.2 percent.

On a year-on-year basis, home prices in first-tier cities went up 3.9 percent last month, retreating from a 4.1-percent expansion seen a month earlier, while those in second-tier cities rose 4.2 percent.

In November, local governments continued to implement the long-term mechanism in the housing market and adopted measures to promote the steady and sound development of the sector, said Sheng Guoqing, a senior NBS statistician. Enditem

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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 housing prices remain stable in November

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