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Home Prices Rise in Major Chinese Cities

By Niu Mujiangqu and Zhao Runhua / May 17, 2019 05:04 PM / Economy

Photo: VCG

Photo: VCG

With summer approaching, China’s housing markets are getting warmer too, according to April data released by the National Bureau of Statistics (NBS) Thursday.

Prices of new homes in Beijing, Shanghai, Guangzhou, and Shenzhen rose 0.5%, 0.3%, 1.1%, and 0.4% from the previous month respectively. Meanwhile, the average price of new homes increased by 0.8% in the 31 second-tier cities surveyed by the NBS and 0.5% in 35 third-tier cities.

The Bureau also reported price increases in existing homes in many of the 70 cities it surveyed, some of which were hit by a slew of tightening measures targeting the industry.

Liu Jianwei, a senior statistician at NBS, said the price increases were within a “stable” range.

While loosened monetary policies were a major factor, local policies including housing discounts for qualified “talent” may also have contributed to heating up urban markets, chief analyst Zhang Dawei from real estate broker Centaline Property told Caixin.

Related: Jump in One Lower-Tier City's Land Prices Hints at Sharp Real Estate Recovery

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