New Home Price Growth in Beijing, Shanghai and Guangzhou Decelerates in July

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The prices of new homes in the Chinese mega-cities of Beijing, Shanghai and Guangzhou all saw easing growth in the month of July.

China’s first-tier cities saw prices for newly built commercial homes rise 0.4% in July compared to June, for a deceleration of 0.3 percentage points compared to the previous month, according to data released by the National Bureau of Statistics (NBS) on 16 August.

Beijing, Shanghai and Guangzhou saw newly built home prices rise 0.8%, 0.4% and 0.2% respectively on-month in July, for decelerations of 0.1, 0.1 and 0.8 percentage points respectively compared to June.

Pre-owned housing sales prices in first-tier Chinese cities rose 0.4% on-month in July, for a deceleration of 0.3 percentage points compared to June.

New build home prices in fist tier cities rose 6.0% in July compared to the same period last year, while for pre-owned homes the increase was 10.0%, for decelerations of 0.1 and 0.5 percentage points respectively compared to June.

In second-tier cities new build home prices rose 4.7% in July compared to the same period last year, while pre-owned home prices rose 3.5%.



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