Average Price of Pre-owned Chinese Homes Drops for Fifth Consecutive Month

A new report indicates that pre-owned homes in China saw their average prices decline for the fifth consecutive month in January.

Data released by the Zhuge Zhaofang Data Research Centre (诸葛找房数据研究中心) on 1 February indicates that the average listed price for pre-owned homes in January across 100 key Chinese cities monitored was 14,902 yuan per square meter, for an on-month fall of 1.05%, and the fifth consecutive month of decline.

The January on-month fall also marks a deceleration of 0.31 percentage points compared to the pronounced drop posted in December.

Pre-owned home prices rose in 35 out of the 100 cities monitored with an average increase of 0.95%, while in 64 cities they declined with an average fall of 1.98%.

Shenzhen was host to the highest average listed price for pre-owned homes at 63,511 yuan per square metre, followed by Beijing (62,244 yuan) and Shanghai (57,720 yuan).

The average listed price for pre-owned homes in first-tier cities was 56,668 yuan per square metre, while in second-tier cities it was 18,309 yuan and in third and fourth tier cities 10,529 yuan.

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