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

China's housing prices continue to stabilize

April 18, 2018


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

5ad6e7fca3105cdce0a36838

BEIJING, Apr. 18 (Xinhua) -- Housing prices remained largely stable in major Chinese cities in March amid the government's tough purchase restrictions, official data showed Wednesday.

As the government maintained purchase restrictions aimed at containing speculative demand, new home prices softened in the country's first-tier cities, according to the National Bureau of Statistics (NBS).

New home prices in first-tier cities declined 0.6 percent year-on-year last month, while prices of existing houses in these cities went down 0.1 percent year on year.

The property market in second-tier cities is also showing signs of slower growth, with the year-on-year growth of new home prices sliding 0.2 percentage points from a month earlier.

New home prices went down on a yearly basis in nine of the 15 major cities considered the "hottest markets." On a month-on-month basis, new home prices fell in 7 of the 15 cities, while Tianjin and Hefei saw home prices flat with February.

"Housing prices were generally stable as market controls have continued to take effect," said NBS statistician Liu Jianwei.

During previous years, rocketing house prices, especially in major cities, had fueled concerns about asset bubbles. To curb speculation, local governments rolled out 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-housing

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