CHINA Chinese cities see slower home price growth in 2018

CHINA

Chinese cities see slower home price growth in 2018

Xinhua

08:04, January 06, 2019

Chinese CITIES.PNG

(Photo: Xinhua)

Home prices in Chinese cities increased at a slower pace in 2018 and are expected to remain stable, according to the China Index Academy, a property research institution.

The average price of new homes in 100 cities rose 5.09 percent last year, a milder growth than 7.15 percent in 2017, according to a statement from the institution.

Meanwhile, second-hand homes in the country's 10 major cities saw their average price drop 0.11 percent, compared with an increase of 8.03 percent in 2017.

In December alone, the average new home price for 100 cities edged up 0.25 percent month on month to 14,678 yuan (about 2,139 U.S. dollars) per square meter. The growth was down 0.02 percentage points from that in November.

The statement said regulators are expected to remain focused on market stability in the future, predicting home prices to continue to stabilize.

The annual Central Economic Work Conference held last month called for a long-term mechanism to maintain the sound development of the real estate market and adhering to the principle that "housing is for living in, not speculation."

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