Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Industry

Economic Watch: China's home prices generally stable in July

August 16, 2022


Abstract : China's home prices in 70 large and medium-sized cities displayed a generally stable trend in July, according to data released by the National Bureau of Statistics (NBS) on Monday.

BEIJING, Aug. 15 (Xinhua) -- China's home prices in 70 large and medium-sized cities displayed a generally stable trend in July, according to data released by the National Bureau of Statistics (NBS) on Monday.

New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen and Guangzhou -- edged up 0.3 percent month on month in July, according to the data.

New home prices in 31 second-tier cities stayed flat month on month, while 35 third-tier cities saw a month-on-month decline of 0.3 percent, the same level as that in June.

Last month, 40 out of the 70 cities saw a month-on-month drop in new home sales prices, the data showed.

Prices of resale homes in the four first-tier cities increased 0.2 percent in July, widening 0.1 percentage points from that in June.

Second-tier and third-tier cities saw their prices of resale homes inch down 0.2 percent and 0.3 percent on a monthly basis, respectively.

On a yearly basis, new home prices in the four first-tier cities rose 3.1 percent in July, while resale home prices in these cities climbed 0.9 percent.

At an important meeting in late July, Chinese leadership urged upholding the principle that "housing is for living in, not for speculation," making full and good use of the policy toolkit by adopting city-specific policies, and supporting people's essential housing needs as well as their needs for better housing.

The generally downward trend of the real estate market has eased with the introduction of a slew of stabilizing policies, NBS spokesperson Fu Linghui told a press conference on Monday.

The market is expected to maintain stable and healthy development as long-term mechanism continues to improve and city-specific policies gradually take effect, Fu added.

Scan the QR code and push it to your mobile phone

Keyword: China Home Prices

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial