BUSINESS China's home prices slightly up in June

BUSINESS

China's home prices slightly up in June

Xinhua

20:48, July 05, 2020

Potential homebuyers look at a property model in Huai'an, Jiangsu province. (Photo: China Daily)

BEIJING - Home prices in 100 Chinese cities saw a slight increase in June, an industrial report showed.

Among the 100 surveyed cities, average new home prices edged up 0.53 percent to 15,461 yuan ($2,189) per square meter in June from May, according to the China Index Academy, a property research institution.

Year-on-year, average new home prices increased 3.16 percent.

A total of 77 cities saw a month-on-month increase in home prices in June, while 23 cities saw home prices decrease.

The China Index Academy's report forecast that the real estate market will continue to recover in the near future, but the impact of the COVID-19 epidemic will pose uncertainties to the market.

China has reiterated the principle that "houses are for living in, not speculation." While curbing housing price speculation, the country will also implement city-specific policies in the sector, according to this year's government work report.

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