Pre-owned Home Prices Fall in Nearly 70% of Key Chinese Cities

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A new report points to sustained declines in the pre-owned housing prices for key Chinese cities over the past several months.

The latest “Hundred City Pre-owned Home Average Price Report” (百城二手住宅均价报告) released by the Zhuge Zhaofang Data Research Center (诸葛找房数据研究中心) indicates that the average listed pre-owned home price for one hundred Chinese cities monitored was 15,136 yuan/square metre for the week of 3 – 9 December, for a decline of 0.54% compared to the preceding week.

69 cities posted declines during the period, with an average decline of 0.91%, while 31 cities saw an increase, with an average rise of 0.51%.

Cities that posted the largest declines included Huizhou (-1.45%), Beihai (-1.44%), Xuchang (-1.41%), Deyang (-1.11%), Nantong (-1.08%), Shenyang (-0.99%), Yantai (-0.99%), Guiyang (-0.95%), Tai’an (-0.93%) and Langfang (-0.91%).

Cities that saw the largest increases included Quanzhou (1.55%), Jiaxing (1.38%), Lianyungang (1.30%), Yancheng (1.28%), Shangrao (1.23%), Dongguan (1.03%), Anshan (1.00%), Kaifeng (0.93%), Dandong (0.92%) and Yinchuan (0.92%).

Data released by Zhuge Zhaofang previously indicated that as of November the average price for pre-owned homes in the hundred cities monitored had fallen for three consecutive months, according to a report from Economic View (中新经纬).

 

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