2022年1月17日

December 2021 New home prices in 70 Cities in China: 50 cities fell month-on-month the decline slowed slightly

China News Service Beijing, January 15 (reporter Pang Wuji) New home prices in Major Chinese cities remained in declining territory in December 2021, but the number of cities experiencing declines decreased from the previous month.

资料图:房地产楼盘。<a target='_blank' href='/' rel=中新社记者 张斌 摄” src=”https://www.chinanewsweb.com/wp-content/uploads/2022/01/20220115_61e2700b2b804.jpg” style=”border:px solid #000000″ title=”资料图:房地产楼盘。中新社记者 张斌 摄” />
File photo: Real estate development. Photo: China News Service/Zhang Bin

In December 2021, new home prices rose in 15 of 70 Chinese cities, remained flat in five and fell in 50, according to data released by China’s National Bureau of Statistics on Thursday. The number of cities where prices fell was still more than 70 percent.

However, compared with the previous two months, the decline in prices showed signs of slowing. Out of 70 cities, 59 saw month-on-month declines in new home prices in November, compared with 52 in October, all higher than in December.

Yan Yuejin, research director of e-House’s think tank Center, noted that the new home price index in 70 cities fell 0.28 percent month-on-month in December, compared with 0.33 percent last month. This shows that although the new house price continues to fall, but the decline did not expand, but slightly narrower.

In December, new home prices in first -, second – and third-tier cities fell from a month earlier. According to Sheng Guoqing, chief statistician of the Urban department of the National Bureau of Statistics (NBS), the sales prices of new residential buildings in first-tier cities fell 0.1 percent in December from flat in the previous month. Second-tier cities fell 0.3 percent month-on-month, while third-tier cities fell 0.3 percent.

The number of cities with rising prices of both new and second-hand homes increased in December after bottoming out last month, but they are still at historically low levels, according to Chen Xiao, a senior analyst at Zhuge Zhaofang Housing Data Research Center. At the same time, the new house, the second-hand house price decline showed a small narrowing trend. In the second half of 2021, the property market cooled rapidly. Since the fourth quarter, positive signals have been frequently released from the policy side, and market confidence has gradually been restored.

By city, data showed that In December, Hangzhou led 70 cities in the rise of new house prices, with a month-on-month increase of 0.5%, followed by Shanghai, Ganzhou and Guilin, with a month-on-month increase of 0.4%. Nanjing, Changsha, Chongqing and Wenzhou all rose 0.3 percent month-on-month. Chen Xiao believes that at the end of last year, in the lower market, Hangzhou, Shanghai housing prices remain “firm”, new homes, second-hand housing growth are in the forefront. This is because with the favorable planning of the Yangtze River Delta economic circle, these cities gather high-tech industries and have a large influx of population.

Chen predicted that the real estate market will continue to improve this year. However, the two-way regulation of the property market will continue, and further regulation will not be ruled out for cities that are heating up too fast. (after)

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