(Beijing, 19th) In April, the new house prices in China's first and second-tier cities remained stable month-on-month.
Data released by the National Bureau of Statistics of China on the 19th shows that in April, the sales price of newly built commercial residential properties in first-tier cities remained flat, switching from a 0.1% increase last month. The sales prices of newly built commercial residential properties in second-tier cities were flat, the same as last month. The sales prices of newly built commercial residential properties in third-tier cities dropped by 0.2%, the same rate of decline as the previous month.
Looking at the prices of second-hand houses, in April, the sales prices of second-hand residential properties in first-tier cities decreased by 0.2% from a 0.2% increase last month. The sales prices of second-hand residential properties in second and third-tier cities both decreased by 0.4%, with the rate of decline expanding by 0.2 and 0.1 percentage points, respectively, from the previous month.
Zhang Bo, dean of the 58 Anjuke Research Institute, stated that from the data perspective, in April, the prices of new and second-hand houses in large and medium-sized cities in China were in a stage of adjustment, with the core cities showing demand resilience, and the market still exhibiting strong potential. Among them, first-tier cities showed differentiation, with new house prices in Beijing and Shanghai rising month-on-month in April, while those in Guangzhou and Shenzhen fell.
In the same month, both new and second-hand house prices in Shanghai rose month-on-month, partly due to its unique urban status and market demand structure, and also related to the strengthening of new housing supply in core areas.
The overall price trend in second-tier cities is relatively stable. The downward pressure on the real estate market in third-tier cities continues, mainly due to high market inventory and insufficient demand release, which are medium to long-term factors.
Li Yu Jia, chief researcher at Guangdong Housing Policy Research Center, stated that in April, the real estate market entered a sales off-season after a minor spring recovery, with real estate sales in some cities relatively weak. However, with the comprehensive enhancement of new housing supply and particularly the implementation of the "Residential Project Specification" in May, which raises the basic standards for new housing construction, the quality of newly needed housing and the renovation of old communities will comprehensively improve residential quality. This will invigorate the scale of new house transactions and the activity of upgrading and changing residences. Moreover, the acceleration of the sales cycle of new houses driving second-hand house transactions positively impacts halting the decline in second-hand house prices.
Data released by the National Bureau of Statistics of China on the 19th shows that in April, the sales price of newly built commercial residential properties in first-tier cities remained flat, switching from a 0.1% increase last month. The sales prices of newly built commercial residential properties in second-tier cities were flat, the same as last month. The sales prices of newly built commercial residential properties in third-tier cities dropped by 0.2%, the same rate of decline as the previous month.
Looking at the prices of second-hand houses, in April, the sales prices of second-hand residential properties in first-tier cities decreased by 0.2% from a 0.2% increase last month. The sales prices of second-hand residential properties in second and third-tier cities both decreased by 0.4%, with the rate of decline expanding by 0.2 and 0.1 percentage points, respectively, from the previous month.
Zhang Bo, dean of the 58 Anjuke Research Institute, stated that from the data perspective, in April, the prices of new and second-hand houses in large and medium-sized cities in China were in a stage of adjustment, with the core cities showing demand resilience, and the market still exhibiting strong potential. Among them, first-tier cities showed differentiation, with new house prices in Beijing and Shanghai rising month-on-month in April, while those in Guangzhou and Shenzhen fell.
In the same month, both new and second-hand house prices in Shanghai rose month-on-month, partly due to its unique urban status and market demand structure, and also related to the strengthening of new housing supply in core areas.
The overall price trend in second-tier cities is relatively stable. The downward pressure on the real estate market in third-tier cities continues, mainly due to high market inventory and insufficient demand release, which are medium to long-term factors.
Li Yu Jia, chief researcher at Guangdong Housing Policy Research Center, stated that in April, the real estate market entered a sales off-season after a minor spring recovery, with real estate sales in some cities relatively weak. However, with the comprehensive enhancement of new housing supply and particularly the implementation of the "Residential Project Specification" in May, which raises the basic standards for new housing construction, the quality of newly needed housing and the renovation of old communities will comprehensively improve residential quality. This will invigorate the scale of new house transactions and the activity of upgrading and changing residences. Moreover, the acceleration of the sales cycle of new houses driving second-hand house transactions positively impacts halting the decline in second-hand house prices.