Tuesday, March 3, 2015   

China home price increases slow in April: survey
(04-30 18:55)

Price rises for new homes in China slowed in April for the fourth straight month, an independent survey showed Wednesday, even as costs in some of the country's largest cities maintained double-digit gains.
The average price of a new home in 100 major cities rose 9.06 percent year-on-year in April to 11,013 yuan per square metre, according to the China Index Academy which compiled the survey, AFP reports.
The increase compared with a rise of 10.04 percent in March, according to the academy, the research unit of real estate website operator Soufun.
China's government has sought for more than three years to contain rising property values, while also promising to increase the supply of affordable housing as price increases stoke discontent among ordinary citizens unable to afford new homes.
But at the same time local authorities in the country make much of their income from land sales to developers. Market control measures have included restrictions on purchases of second and third homes, higher minimum down-payments and taxes in some cities on multiple and non-locally owned homes.
Prices in April rose 0.10 percent from the previous month, the data showed, slowing from March's gain of 0.38 percent but still marking the 23rd straight month-on-month increase.
Beijing again led the rise in new home prices among the 10 biggest Chinese cities. The average cost in China's capital jumped 23.94 percent year-on-year to 33,241 yuan per square metre.
Nevertheless, that marked a slowdown from the 27.13 percent increase seen in March and February's 29.55 percent rise, the data showed.
Price rises also slowed in the southern cities of Guangzhou, where costs gained 18.06 percent year-on-year, and Shenzhen, where they climbed 16.56 percent.
China's commercial capital Shanghai saw the average cost of a new home increase to 32,527 yuan per square metre for a gain of 15.34 percent from the same month a year ago, accelerating from March's increase of 14.89 percent.   
Other Business breaking news:
Asian equities retreat despite Wall Street highs (27 mins ago)
European benchmarks touch record highs (30 mins ago)
Yahoo is 20 years young (33 mins ago)
Dating app Tinder moves in on the younger crowd (37 mins ago)
HP acquires Aruba in US$2.7b deal (46 mins ago)
Bill Gates atop wealth list with US$79b assets (48 mins ago)
(Mobile World Congress) Google floats drones plan to connect masses (56 mins ago)
US banks clean house ahead of tighter rules (1 hr 2 mins ago)
Nasdaq breaches 5,000 (1 hr 13 mins ago)
Sharp shares tumble on plans to seek capital (1 hr 15 mins ago)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.