Business
12:50, 15-Aug-2018
China’s home prices remain stable in July
Updated
12:26, 18-Aug-2018
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Due to China’s tightening measures on the real estate sector, 70 major cities saw a slowing home prices growth in July, especially the first and second-tier cities, according to data released by National Bureau of Statistics (NBS) on Wednesday.
Average new home prices in China’s 70 major cities rose 1.1 percent in July from a month earlier, higher than the previous month’s reading of 1 percent, and the year-on-year price growth in July was 5.8 percent in July, also higher than the 5-percent increase in June, according to Reuters calculations based on the official survey on Tuesday.
Prices of new homes in the four first-tier cities, which including Beijing, Shanghai, Guangzhou and Shenzhen, rose 0.2 percent month-on-month, 0.4 percentage points lower than growth recorded in June.