Chinese Home Prices Plateau in January

Chinese new home prices rose 0.2 percent nationally in January. Existing home prices increased 0.4 percent. Government efforts to slow new home prices in the top and hot cities worked, but existing home prices kept rising in most cities. Some declines, such as the 0.1 percent in Shenzhen, were marginal. Shanghai saw the largest decline in existing home prices nationally, with a drop of 0.4 percent. Existing home prices rose in 51 cities versus the 45 cities with rising new home prices.

SCMP: China’s home prices continue to cool in January
China’s residential property market continued to lose heat in January, with 14 out of 15 cities under the government’s scrutiny reporting declining or unchanged prices, in the latest evidence that the state’s heavy-handed curbs on the property market are having an effect.

Guangzhou was the sole city among the 15 major cities to defy the government’s attempt to deflate the property bubble, with January prices rising 0.6 per cent from the previous month, marginally slower than the 0.7 per cent month-on-month gain in December, according to data released by the National Bureau of Statistics Wednesday.

Shanghai’s prices of new homes fell 0.1 per cent in January, compared with December, according to data by the National Statistics Bureau, while Beijing prices were unchanged.
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