21 February 2020

Major Chinese cities see home prices gain for 17th month

The average price of new homes in 100 major Chinese cities rose 1.24 percent to 10,685 yuan (US$1,753) per square meter in October from the previous month, marking the 17th consecutive monthly gain, according to data released by China Index Academy on Friday. That was up 10.69 percent on a yearly basis. Shenzhen registered a 2.83 percent month-on-month gain in price while Beijing’s growth narrowed to 2.56 percent from 3.75 percent. The average home price in the 10 top-tier cities, including Shanghai, Beijing and Guangzhou, rose 15.69 percent to 18,533 yuan per square meter from a year earlier.

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