Caixin
Jan 04, 2019 08:36 PM
ECONOMY

Growth in New Home Prices Continues to Cool

A residential building is seen next to the Dayun River in Huaian, Jiangsu province, on Jan. 1 2019. Photo: VCG
A residential building is seen next to the Dayun River in Huaian, Jiangsu province, on Jan. 1 2019. Photo: VCG

New home prices in 100 Chinese cities rose 5.09% year-on-year in December, down 0.13 percentage points from November, according to a report Thursday by private research agency China Index Academy.

The average price of new home in the 100 cities rose to 14,678 yuan ($2138) per square meter last month.

“In the future, we expect that stabilizing home prices continues to be the key of property policies in different local markets,” the December report said. “Home prices in some major cities will continue to adjust, there will be less upward forces to push home prices in third- or fourth-tier cities, and home prices in more cities will cool down.”

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