Home » Housing prices in 70 cities in March were announced: Beijing’s new homes were flat month-on-month and up 0.8% year-on-year – Focus Interpretation – Beijing Leju.com

Housing prices in 70 cities in March were announced: Beijing’s new homes were flat month-on-month and up 0.8% year-on-year – Focus Interpretation – Beijing Leju.com

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Housing prices in 70 cities in March were announced: Beijing’s new homes were flat month-on-month and up 0.8% year-on-year – Focus Interpretation – Beijing Leju.com

House prices in Chinese cities showed a mixed trend in March, with Beijing’s new homes remaining flat month-on-month but increasing by 0.8% year-on-year, according to data released by Leju House Buying.

The National Bureau of Statistics revealed that the month-on-month decline in commercial residential sales prices in cities across all tiers narrowed slightly in March, while the year-on-year decline expanded.

In first-tier cities, the sales price of newly built commercial housing fell by 0.1% month-on-month, with Beijing remaining unchanged, Shanghai increasing by 0.5%, and Guangzhou and Shenzhen decreasing by 0.7% and 0.4% respectively. Second-hand housing prices in first-tier cities also saw a decline of 0.7% month-on-month.

Wang Zhonghua, a statistician at the National Bureau of Statistics, noted that the transaction volume of new commercial housing and second-hand housing in 70 large and medium-sized cities increased compared to the previous period in March. The sales price decline in commercial housing across different city tiers narrowed slightly month-on-month, but expanded year-on-year.

The year-on-year decline in commercial housing sales prices in various tier cities expanded in March, with Beijing and Shanghai showing increases of 0.8% and 4.3% respectively in new home prices. Second-hand housing prices in first-tier cities dropped by 7.3% year-on-year.

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