BEIJING: China continued to see a generally stable housing market in January, with home prices in 70 major cities showing mild month-on-month rises, official data showed, CGTN reported on Wednesday. New house prices in four first-tier cities – Beijing, Shanghai, Shenzhen and Guangzhou – increased by 0.6 percent month on month in January, compared with a 0.3-percent increase registered in December 2020, according to data from the National Bureau of Statistics (NBS). A total of 31 second-tier cities saw a month-on-month increase of 0.4 percent in new home prices last month, while 35 third-tier cities witnessed a month-on-month rise of 0.2 percent. The resale home market in first-tier cities saw prices increase by 1.3 percent month on month in January, edging up 0.7 percentage points from December 2020. Prices of resold homes in second-tier cities saw a month-on-month increase of 0.4 percent, while those in third-tier cities climbed by 0.3 percent. On a year-on-year basis, new home prices in first-tier cities rose by 4.2 percent in January, up from 3.9 percent growth in December 2020, while those in second-tier cities went up by 4.1 percent, up from a 4-percent expansion in December.
The prices of resold homes in first-tier cities grew by 9.6 percent from a year earlier, expanding 1 percentage point from growth in December 2020.
–The Daily Mail-CGTN
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