More Chinese cities see home prices decline
Updated: 2014-02-24 10:24
(Xinhua)
|
|||||||||||
|
A potential homebuyer takes a photo of a property display model in Beijing. [File photo / China Daily] |
BEIJING - Home prices dropped month-on-month in more Chinese cities in January, adding to signs pointing to a gradually cooling property sector, official data showed on Monday.
Of a statistical pool of 70 major Chinese cities, 62 saw a month-on-month rise in new home prices, while prices in six cities declined, the National Bureau of Statistics said in a statement.
Only two cities saw month-on-month drops in new home prices in December, according to previous data.
The average month-on-month price increase for new homes slowed slightly to 0.49 percent last month from 0.51 percent in December, with the average in four first-tier cities -- Beijing, Shanghai, Guangzhou and Shenzhen -- slowing 0.1 percentage point from December, the statement said.
Prices of existing homes also showed a trend of moderation, with 13 cities experiencing month-on-month declines, up from only five in December.
Senior NBS statistician Liu Jianwei attributed the moderation partly to a raft of government measures to stabilize market expectations, including more control measures and increasing supplies of affordable housing.
Tightened credit was another reason behind the narrowing price gains, Liu said.
Since the beginning of this year, some commercial banks in China have tightened lending to the property sector after they were hit by bouts of severe liquidity crunch last year.
Industrial Bank has ordered its local branches to suspend loans to some sectors till the end of March, including some property development projects, as well as steel, cement, construction and other property-related sectors, the Shanghai Securities News reported Monday.
Chinese property shares tumbled about 4 percent at around 11 a.m. Monday.
China Vanke, the country's largest property developer by market value, dived 6.15 percent, while Poly Real Estate plummeted 8.11 percent.
Don't miss:
|
|
China's top 10 richest cities |
Related Stories
3.6 mln Xinjiang rural residents move in government-subsidized houses 2014-02-21 16:34
Housing prices to diverge 2014-02-07 14:02
New housing policies welcome, but more needed 2014-02-07 17:15
Homing in on affordable housing units 2014-01-25 08:06
Official who owned 20-plus houses dismissed 2014-01-16 20:01
Today's Top News
Ukraine sets back on European course
Chinese pandas arrive in Belgium
Brit master teaches Chinese Tai chi
Think tank examines South China Sea
Europeans nervous over China deals
Beijing upgrades haze alert
China urges US to correct mistakes on Tibet
9 punished for spreading flu rumor
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Death of panda spurs concerns |
Life after glory of victory |
Games bid to boost winter sports |
Sochi Olympics |
Bittersweet Spring Festival |
Find provides grave paws for thought |