China’s home prices continued to rise in December

(From Xinhua/China Daily)

China’s real estate sector warmed up further in December, with more major cities reporting month-on-month rises in new home prices.

Beijing apartment and office blocks

Beijing apartment and office blocks

Of the 70 large and medium-sized cities surveyed in December, new home prices climbed month on month in 39, up from 33 in the previous month, the National Bureau of Statistics (NBS) said Monday.

Meanwhile, 27 reported month-on-month price declines, level with that in November, according to NBS data.

On a yearly basis, 21 cities posted new home price increases and 49 reported falls, the same with that in November.

New home prices soared 47.5 percent year on year in southern Chinese city of Shenzhen, the sharpest increase last month among the country’s major cities, while the steepest decline was registered by the northeastern city of Dandong, where prices dropped 5.3 percent.

Prices for existing homes remained weak in December, with 37 cities reporting higher month-on-month prices and 24 cities reported lower prices, compared with 40 and 16 in November respectively. Read more

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