The latest official data from China shows that new home prices in China fell month-on-month in May, while the year-on-year decline continues to narrow.
According to data released by China's National Bureau of Statistics on its official website on Monday (June 16), the sale prices of newly built commercial residences in first-tier cities in China fell by 0.2% month-on-month, turning from flat in the previous month. In second-tier cities, the sale prices of newly built commercial residences fell by 0.2% month-on-month, also turning from flat in the previous month. In third-tier cities, the sale prices of newly built commercial residences decreased by 0.3% month-on-month, with the decline expanding by 0.1 percentage points from the previous month.
The data also shows that in May, the sale prices of newly built commercial residences in first-tier cities fell by 1.7% year-on-year, with the decline narrowing by 0.4 percentage points from the previous month. In second and third-tier cities, the sale prices fell by 3.5% and 4.9% year-on-year, with the declines narrowing by 0.4 and 0.5 percentage points, respectively.
According to the Hundred Cities Price Index Report released by China Index Academy on June 1, the new home prices in 100 cities in China rose by 0.3% month-on-month in May and increased by 2.56% year-on-year. Industry insiders interviewed pointed out that the current round of new home price increases is driven by a few premium properties and is not universal, with most new developments still struggling.
According to data released by China's National Bureau of Statistics on its official website on Monday (June 16), the sale prices of newly built commercial residences in first-tier cities in China fell by 0.2% month-on-month, turning from flat in the previous month. In second-tier cities, the sale prices of newly built commercial residences fell by 0.2% month-on-month, also turning from flat in the previous month. In third-tier cities, the sale prices of newly built commercial residences decreased by 0.3% month-on-month, with the decline expanding by 0.1 percentage points from the previous month.
The data also shows that in May, the sale prices of newly built commercial residences in first-tier cities fell by 1.7% year-on-year, with the decline narrowing by 0.4 percentage points from the previous month. In second and third-tier cities, the sale prices fell by 3.5% and 4.9% year-on-year, with the declines narrowing by 0.4 and 0.5 percentage points, respectively.
According to the Hundred Cities Price Index Report released by China Index Academy on June 1, the new home prices in 100 cities in China rose by 0.3% month-on-month in May and increased by 2.56% year-on-year. Industry insiders interviewed pointed out that the current round of new home price increases is driven by a few premium properties and is not universal, with most new developments still struggling.