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New home prices in 100 major cities rise 0.21 pct on month in Jan., survey

2015-02-02 GMT+8:00

BEIJING, Feb. 2 (Xinhua) -- The average price of new commercial residential housing in China's 100 major cities grew 0.21 percent month on month in January, to 10,564 yuan per square meter, according to a recent survey made by China Index Academy.

Among the 100 cities, 44 saw new home price increases in the month, while the other 56 saw decreases. The number of cities witnessing new home price increases was 14 more than last December.

The new home prices in all the top ten cities increased in January. Their average price reached 18,990 yuan per square meter, up 0.59 percent month on month. In a breakdown, the new home prices in Beijing, Shanghai, Shenzhen and Guangzhou hiked 1.15 percent, 0.78 percent, 0.64 percent and 0.33 percent month on month, respectively.

The average price of residential housing in the 100 cities dropped 3.09 percent year on year in January. The decrease was 0.4 percentage points larger than in December 2014. The average home price in China's top 10 cities decreased 1.23 percent year on year, and the decrease was 0.62 percentage points larger than in the previous month. Shanghai, Shenzhen, Beijing and Hangzhou see their average home prices rise 1.92 percent, 0.98 percent and 0.87 percent and decline 10.95 percent year on year, respectively.

China Index Academy believes the housing market will continue a recovery in the future, with home prices rebounding steadily. But the home prices in third- and fourth-tier cities may still suffer decreases in the future, due to demand saturation in a short term.  (Edited by Li Xiaoyu,