(YicaiGlobal) Dec. 19 — Latest data from China’s National Bureau of Statistics (NBS) shows that the real estate markets of 15 first- and second-tier cities rapidly chilled in the second half of November, to show a stabilizing tendency in housing prices.
The NBS released information today on changes in the residential property sales prices of 70 large and medium cities in November, and of the first-tier cities and hot second-tier cities in the second half of the month. Compared with November’s first half, nine first-tier cities and hot second-tier cities saw a monthly decline in new commercial housing prices in the second half, with a drop of between 0.1 to 0.9 percentage points. Two cities flatlined, with the remaining four logging a growth rate of new commercial housing prices that fell to less than one percent per month.
The number of cities with a monthly increase in new commercial housing prices and second-hand housing prices fell in November in 70 big and mid-sized cities. Among these, the number with a monthly increase in new commercial housing prices decreased by seven, while those with a per-month increase in second-hand housing prices dropped by eight. More cities experienced a monthly decline. Contrasting with the previous month, the number of cities with a monthly decline in new commodity housing prices and second-hand housing prices was up by four and seven percentage points, respectively.
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