Housing prices in Chinese urban centres have seen an over 13% YoY rise for the first seven months of 2019.
Data from the Shanghai E-house Real Estate Research Institute indicates that the average new build commercial residential real estate transaction price of 100 cities monitored across China was 14,174 yuan per square metre for the period from January to July, for a YoY increase of 13.7%.
The average new build commercial residential real estate transaction price for China’s four first-tier cities for the period from January to July was 43,159 yuan/ square metre, for a YoY increase of 17%, while for 32 second-tier cities monitored the average price was 14,119 yuan/ square metre, for a YoY increase of 10.7%.
Shanghai E-House’s data indicates that housing prices in 13 cities monitored are excessive, chief amongst them Shenzhen, whose average housing price stands at 56,141 yuan/ square metre.
