The average new home prices in China’s 100 major cities stood at 16,184 yuan per squarer meter in September, rising by 0.05% from the previous month, returning to growth for the first time since May, according to data compiled by the real estate research firm China Index Academy.
The price fell by 0.1% from a year earlier, narrowing from the drop in August, showed the data.
China announced a series of policy measures to support the sluggish housing market and real estate developers accelerate the launch of new projects, it said.
The average second-hand home prices in the cities reached 15,556 yuan per square meter, falling by 0.44% from the previous month, widening by 0.06 percentage point from August and falling for the 17th consecutive month. The price fell by 2.59% from a year earlier.
The average monthly residential rent in the cities reached 37 yuan per square meter, rising by 0.01% from the previous month and down 0.84% from a year earlier, showed the data.