China’s second-hand home prices declined at faster pace in Jun, falls seen across tier-1, tier-2 and tier-3 cities
DATA REAL ESTATE
China’s second-hand home prices declined at faster pace in Jun, falls seen across tier-1, tier-2 and tier-3 cities
DATA REAL ESTATE

China’s second-hand home prices declined at faster pace in Jun, falls seen across tier-1, tier-2 and tier-3 cities

 

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

 

 

The average second-hand home prices in China’s 70 major cities declined by 0.4% in June from the previous month, compared to the 0.2% fall in May, according to calculations by E-House China R&D Institute based on data released by the National Bureau Statistics (NBS).

Second-hand home prices returned to growth in February after sliding for 17 consecutive months before before declining again in May, according to E-House.

Among China’s 70 major cities, only 7 cities saw second-hand home prices rise in June form the previous month, compared to 15 in May, while 63 cities saw second-hand home prices decline, compared to 55 in May, according to the National Bureau of Statistics. 

Second-hand home prices declined across tier-one, tier-two and tier-three cities, according to the NBS.

Prices in the four tier-one cities slid by 0.7% in June from the previous month, expanding by 0.3 percentage points from May, and the prices in tier-two and tier-three cities both fell by 0.4%, expanding by 0.3% and 0.2 in May, showed the data. 

Among the four tier-one cities, second-hand home prices in Shanghai declined by 1.2% in June, the biggest drop among the 70 major cities; prices in Beijing and Shenzhen fell by 0.7% and the prices in Guangzhou fell by 0.3%, showed the data.