BUSINESS China's first-tier cities see slower house price increases: Report

BUSINESS

China's first-tier cities see slower house price increases: Report

By Xu Zheqi | People's Daily app

23:30, August 28, 2019

China's first-tier cities like Beijing, Shanghai and Shenzhen are seeing slower houseing price increases, a newly released Hurun report finds.

VCG111174182940.jpg

Photo: VCG

Hurun Research Institute and Sweetome Group Wednesday released two reports in Shanghai, one featuring a global house price index, and the other charting global property return of investment (ROI) for China high net worth individuals (HNWI).

The Sweetome Hurun Global House Price Index 2019 Half-Year lists the 50 cities with the highest house price changes in the twelve months to ending June 30, 2019. The Sweetome Hurun China HNWI Global Property ROI 2019 Half-Year, lists the cities that have provided the best returns on property investments, taking into account the annual house price change, rental yields and exchange rate difference over the 12-month period ending June 30, 2019.

微信图片_20190828231341.jpg

Photo: Hurun Research Institute

The Global House Price Index list finds that Budapest saw the fastest housing price increase in the world, up 23% in the past year, and 28 Chinese cities were on the World’s Top 50 Property Price Increases list, up 17 from last year. 

Of first-tier cities in China, only Guangzhou made the Top 50, up 7% in the past year. Beijing, Shanghai and Shenzhen did not make the cut, with price increases of 2%, 0.5% and 0.2%, which shows China's tightening control of the real estate market gradually taking effect.

The US offered the highest return on overseas property investment, with 19 cities in the top 50, down 2 from last year. Germany has 6 cities, and Japan and Thailand have 3 each.

According to Hurun Research Institute, home buying and overseas investment are the top choices for investment, and the amount invested will increase in the next three years. Japan has steadily risen to become the most popular international tourism destination for Chinese. 46% of Chinese respondents want to send their children to study in the US, followed by 39% who want to send their children to study in the UK.

Related Stories

Terms of Service & Privacy Policy

We have updated our privacy policy to comply with the latest laws and regulations. The updated policy explains the mechanism of how we collect and treat your personal data. You can learn more about the rights you have by reading our terms of service. Please read them carefully. By clicking AGREE, you indicate that you have read and agreed to our privacy policies

Agree and continue