China’s housing market cooled further in May, new home prices grew at slower pace, 2nd-hand home prices declined across the board
DATA
China’s housing market cooled further in May, new home prices grew at slower pace, 2nd-hand home prices declined across the board
DATA

China’s housing market cooled further in May, new home prices grew at slower pace, 2nd-hand home prices declined across the board

 

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China’s housing market cooled further in May, with fewer cities reporting home price growth. Among the country’s 70 major cities, 46 cities saw new home prices rise in May from the previous month, compared to 62 in April, said the National Bureau of Statistics. 

Zhanjiang city in South China’s Guangdong province led the gains, with new home prices growing 0.8% in May from the month before, it said.

New home prices in the four tier-one cities rose by 0.1% in May from the prior month, slowing by 0.3 percentage point from April, according to the data.

In breakdown, new home prices in Beijing, Shanghai and Guangzhou grew by 0.2%, 0.3% and 0.1%, respectively, while that in Shenzhen declined by 0.2%, it said.

New home price in tier-two cities rose by 0.2% in May from the prior month, slowing by 0.2 percentage points, while new home price in tier-three cities remained unchanged in May, compared to 0.2 growth in April, showed the data.

Second-hand home prices in tier-one cities fell 0.4% in May from the previous month, compared to 0.2% gain in April, showed the data. 

In breakdown, second-hand home prices in Beijing, Shanghai, Guangzhou and Shenzhen fell by 0.6%, 0.8%, 0.2% and 0.1%, respectively, showed the data.

Second-hand home prices in tier-two and tier-three cities fell 0.3% and 0.2%, respectively, in May from the previous month, compared to no change in April, showed the data.