Property prices in top 100 Chinese cities on the rise

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A property construction site in Changzhou in East China’s Jiangsu province on January 1. IMAGINECHINA/CHINA DAILY

HOUSE prices in 100 major Chinese cities rose 5.09 per cent last year, down 2.06 per cent from 2017, according to data from China Index Academy, a Beijing-based realty information service provider.

In December alone, the average price of new homes in these 100 cities monitored by the academy rose 0.25 per cent month-on-month to 14,678 yuan ($2,136) per sqm.

On a monthly basis, home prices climbed in 60 places, six less than last month – 36 out of 100 cities reported month-on-month price drops, five more than the previous month, and four cities remained price flat.

Last year, a total of 97 cities registered price increases, among which 14 cities’ price growth rate exceeded more than 15 per cent, 20 less than in 2017.

In December, the average price of new homes in 10 big cities, including Beijing and Shanghai, rose 0.25 per cent month-on-month to 26,732 yuan per sqm, up 0.07 per cent from November. Home prices in these 10 cities increased 2.37 percent last year, down 1.54 per cent from 2017.

Last month, the average price of a second-hand house in main urban districts of the 10 major cities fell 0.82 per cent month-on-month to 38,691 yuan per sqm, up 0.44 per cent from the previous month. Last year, second-hand house prices fell 0.11 per cent, compared with a 8.03 per cent increase in 2017.

This year, the country will give priority to keep land and house prices stable, according to a recently-held national housing and urban-rural development work conference. Some cities such as Beijing, Qingdao, Hefei, Sanya and Wuhan have rolled out measures to further reinforce property regulation.

A China Index Academy official predicted that in the future, property control policies will focus on stability, differentiation and structure optimisation. House prices are expected to continue to be stable.

Some hotspot cities will continue consideration stance, while price rising in third- and fourth-tier cities will experience slowdown. CHINA DAILY/ANN