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
Economy

China's housing prices continue to stabilize on tough restriction policies

March 20, 2018


Abstract : Housing prices remained largely stable in major Chinese cities in February amid the government's tough purchase restrictions, official data showed Monday.

房地产

BEIJING, Mar. 20 (Xinhua) -- Housing prices remained largely stable in major Chinese cities in February amid the government's tough purchase restrictions, official data showed Monday.

As the government maintained purchase restrictions aimed at containing speculative demand, new home prices softened in the country's biggest cities and recorded slower increases in other major cities monitored by the government, according to data from the National Bureau of Statistics (NBS).

On a monthly basis, new home prices declined in 12 of the 15 first-tier cities, while those in another 55 major cities surveyed posted slower or flat growth in February.

Average prices for new homes in the cities of Beijing, Shanghai, Guangzhou and Shenzhen all fell from the previous month, down 0.3 percent, 0.2 percent, 0.4 percent and 0.6 percent, respectively, according to the NBS data.

On a yearly basis, the 15 first-tier cities saw their average new home prices edge down 0.1 percent last month, but growth of average new home prices in the other 55 cities accelerated.

Prices for existing homes in first-tier cities have declined for the 17th straight month last month.

This came after the NBS data showed last week that growth in property development investment rebounded in the first two months, rising 9.9 percent from one year earlier and accelerating from an increase of 7 percent registered in 2017.

During previous years, rocketing housing prices, especially in major cities, had fueled concerns about asset bubbles. To curb speculation, local governments passed or expanded their restrictions on house purchases and increased the minimum downpayment required for a mortgage.

This year's government work report reiterated that "houses are for living in, not for speculation."

"We will support people in buying homes for personal use, and develop the housing rental market and shared ownership housing," it said.

Scan the QR code and push it to your mobile phone

Keyword: China-real-estate China-property

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