A man walks past a real estate advertisement in Nanjing, Jiangsu province. [Photo: China Daily]
The State Council released an eight-term tightening regulation to cool the nation's housing market on January 26, followed by major cities including Beijing, Shanghai and Chongqing which have taken corresponding measures. Despite a series of measures, home prices in most major cities continued to rise in February. Do you think this phenomenon will continue in next few months?
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Home prices in China continues to rise in February
Home prices in most major Chinese cities continued to rise month on month in February despite government efforts to cool the property market, according to the National Bureau of Statistics (NBS) Friday.
Month-on-month price declines of new commercial homes were reported only in eight cities out of the NBS' statistical pool of 70 major Chinese cities, prices stood unchanged in six cities, while 56 other cities posted monthly price gains.
c, including raising the down payment of second home buyers to 60 percent of the full property price from a previously required 50 percent.
The Shanghai municipal government also announced a long-awaited property tax on Jan 27, the same day when Chongqing released its own version of a property tax to cool housing prices. The property tax showed the central government's resolve to rein in real estate speculation, analysts say.
Home prices in 70 major cities in December rose by 6.4 percent compared with a year earlier, figures from the National Bureau of Statistics showed. Residential property prices increased across 70 cities, among which newly built residential prices edged up 0.3 percent month-on-month, and second-hand residential apartments' prices increased 0.5 percent compared with that of November.
