China's housing market continued to be stable in March.
Home prices in 70 major cities showed mild month-on-month increases, official data showed Friday, state media Xinhua reports.
New home prices in four first-tier cities – Beijing, Shanghai, Shenzhen and Guangzhou – grew by 0.4 percent month on month in March, compared with a 0.5-percent increase registered in February, according to data from the National Bureau of Statistics (NBS).
In 31 second-tier cities prices increased month-on-month by 0.5 percent, while 35 third-tier cities witnessed a month-on-month rise of 0.3 percent.
In the resale home market in first-tier cities prices increased by 1 percent month on month in March, edging down 0.1 percentage points from February.
Prices of resale homes in second-tier cities edged up by 0.4-percent month-on-month, while those in third-tier cities inched up by 0.3 percent.
On a year-on-year basis, home prices increased due to the low base effects, according to the NBS.
New home prices in first-tier cities grew by 5.2 percent in March, up from 4.8-percent in February, while those in second-tier cities increased by 4.8 percent, up from a 4.5-percent in the previous month.
The resale home prices in first-tier cities grew by 11.4 percent from a year earlier, rising by 0.6 percentage points from February.-Photo: China Daily
Potential homebuyers check out a housing project at a real estate agency in Shanghai in April.
