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Xinhua Silk Road
Economy

China's housing market continues to ease in August

September 15, 2021


Abstract : China continued to see its housing market ease in August under strengthened market regulations, according to the National Bureau of Statistics (NBS) Wednesday.

Aerial photo taken on March 18, 2021 shows the construction site of residential buildings in Rongdong area of Xiongan New Area, north China's Hebei Province. (Xinhua/Mu Yu)

BEIJING, Sept. 15 (Xinhua) -- China continued to see its housing market ease in August under strengthened market regulations, according to the National Bureau of Statistics (NBS) Wednesday.

New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen and Guangzhou -- rose 0.3 percent month on month in August, representing a slower growth pace from the 0.4 percent seen in July, according to the NBS data.

Prices of second-hand homes in the four cities gained 0.2 percent month on month, down 0.2 percentage points from the growth in July.

A total of 31 second-tier cities witnessed a month-on-month increase of 0.2 percent in new home prices, while 35 third-tier cities saw month-on-month growth in new home prices remain unchanged.

The NBS data also showed that in August, second-hand home prices in second-tier cities stayed the same, while those in third-tier cities edged down 0.1 percent month on month.

On a year-on-year basis, new home prices in first-tier cities rose 5.7 percent in August, down from the 6-percent growth in July, while those in second-tier and third-tier cities went up 4.4 percent and 2.8 percent, respectively.

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Keyword: housing market

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