|China home prices steadying
Price rises for new homes in China slowed in March for the third straight month, an independent survey showed.
The average price of a new home in 100 major cities increased by 10.04 percent year-on-year in March to 11,002 yuan, per square meter, according to the China Index Academy which compiled the survey, released late Monday.
The increase compared with a rise of 10.79 percent in February, according to the academy, the research unit of real estate website operator Soufun.
The number of cities where new home prices grew by more than 1 percent decreased, the academy said in its release, which “indicates real estate prices in most cities are steadying further.’’
Prices in March increased by 0.38 percent from the previous month, the data showed, slowing from February's increase of 0.54 percent, but still marking the 22nd straight month-on-month gain.
Beijing led the rise in new home prices among the 10 biggest cities in March, with the average cost increasing 27.13 percent year-on-year to 33,069 yuan per square meter, the data showed.
Prices in Guangzhou increased 20.48 percent year-on-year and those in nearby Shenzhen gained 19.02 percent.
In Shanghai, the average cost of a new home came to 32,339 yuan per square meter, up 14.89 percent from the same month a year ago.—AFP