0 Comment(s)
Print
E-mail Xinhua, April 16, 2024
Major Chinese cities reported falling home prices in March, official data showed on Tuesday.
The National Bureau of Statistics (NBS) said that 70 large and medium-sized cities saw narrowed month-on-month declines in home prices last month.
In the four first-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, prices of new homes edged down 0.1 percent in March from a month ago. Meanwhile, 31 second-tier cities and 35 third-tier cities registered 0.3 percent and 0.4 percent home price declines, respectively.
Prices of resold homes fell 0.7 percent, 0.5 percent and 0.5 percent from a month ago in first, second and third-tier cities, respectively, the NBS said.
Compared to a year earlier, the 70 large and medium-sized cities in general saw price drops. In March, new home prices in first-tier cities slipped 1.5 percent from a year ago, and those in second and third-tier cities went down 2 percent and 3.4 percent, respectively.
For resold homes, the price in March fell 7.3 percent, 5.9 percent and 5.7 percent year on year in first, second and third-tier cities, respectively, according to the data.
