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Economy

China's home prices see slower growth in May

June 15, 2023


Abstract : China's housing market reported narrowed growth last month, official data showed Thursday.

Vehicles run at the Central Business District (CBD) in Chaoyang District in Beijing, capital of China, June 6, 2022. (Xinhua/Ju Huanzong)

BEIJING, June 15 (Xinhua) -- China's housing market reported narrowed growth last month, official data showed Thursday.

In May, 46 out of 70 large and medium-sized cities saw month-on-month increases in new home prices, down from 62 in April, according to the National Bureau of Statistics.

New home prices in four first-tier cities -- Beijing, Shanghai, Shenzhen, and Guangzhou -- went up 0.1 percent in May, down 0.3 percentage points from that in April.

In 31 second-tier cities, prices of new homes gained 0.2 percent, shrinking from the 0.4-percent increase a month earlier. Prices of new housing in 35 third-tier cities came in flat.

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Keyword: home prices

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