Date
18 October 2017

Beijing existing-home prices down in January, paper says

Second-hand house prices in Beijing fell 0.1 percent in January from the previous month, the first decline in 19 months since June 2012, China Business News reported Tuesday, citing data from the National Bureau of Statistics. New-home prices inched up 0.5 percent in January, the lowest growth in 15 months, the report said. Despite the weak growth, property developers appear enthusiastic to secure more land reserves in the city. Land sales in Beijing are likely to exceed 80 billion yuan (US$13 billion) in the first two months of this year, a sign of strong market confidence in first-tier cities, analysts were quoted as saying.

– Contact HKEJ at [email protected]

KZ/AC/CG

 

 

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