Home » Business » Real Estate
Robust sentiment as home prices continue to increase across China
Print Edition
THE cost of a new home rose again across China in February, the China Index Academy said in a report yesterday.
The average price of a new home rose 0.6 percent to 11,092 yuan (US$1,694) per square meter from a month earlier, after a 0.42 percent gain in January, said the academy, which tracked market activity in 100 cities across the country.
Nationwide, prices climbed in 61 cities, but fell in 38 cities and was unchanged in one. Among the gainers, 22 cities registered a month-on-month growth of more than 1 percent, an increase of five from January.
Zhongshan in Guangdong Province recorded the biggest monthly rise of 5.63 percent, followed by Suzhou and Shenzhen, which saw home prices rise 5.56 percent and 5.41 percent, respectively, from a month earlier, the academy said.
In the country’s 10 largest cities, the average cost of a new home increased 0.51 percent to 20,842 yuan per square meter, compared with a 0.54 percent rise in January.
“For the seventh consecutive month, home prices in China rose simultaneously on both a monthly and yearly basis,” the academy said.
“As the market is approaching its traditional high season, we expect to see robust sentiment among both real estate developers and home buyers, with boosting measures by the government such as the cut in down payment and a reduction in deed and business taxes continuing to take effect.”
On an annual basis, the average price of a new home jumped 5.25 percent in February, accelerating further from a 4.37 percent rise in January.
In Shanghai, the area of new homes sold, excluding government-subsidized affordable housing, dropped 46.7 percent from January to 713,000 square meters last month, mainly because of a seasonal retreat, Shanghai Centaline Property Consultants said in a report yesterday. On a year-on-year basis, however, that represented a surge of 68.6 percent, Centaline data showed.
Fueled by strong performance in the high-end segment, the mean cost of new houses rose 1.4 percent to 36,374 yuan per square meter in February, a record in the city.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
