Property prices fall in Chinese cities in July
August 18th, 2011 - 3:01 pm ICT by IANSBeijing, Aug 18 (IANS) More cities reported lower or unchanged property prices in July as compared to June, amid renewed government efforts to cool the market, authorities said.
In July, some 31 cities out of the statistical pool of 70 major cities saw new home prices decline or remain unchanged from a month earlier, compared with 26 cities in June, according to the National Bureau of Statistics (NBS).
Fourteen cities saw month-on-month declines in new home prices in July, up from 12 in June. Meanwhile, prices in 17 cities, including Beijing and Hangzhou, remained unchanged, according to the NBS, reported Xinhua.
As for resold housing units, 22 cities reported second-hand home prices decline month-on-month in July. Second-hand home prices stayed unchanged in 12 major cities in July from June, according to the NBS.
In the latest effort to curb property prices, the government has started to prepare home purchase restrictions in the country’s second and third-tier cities to prevent prices from further increases.
The Ministry of Housing and Urban-Rural Development Wednesday provided five standards that will decide whether to impose restrictions on smaller cities, including rapid growth in price or transaction volume in the first half.
The government has previously restricted residents in major cities from buying second or third homes. Home buyers were also required higher down payments for mortgages, and property taxes have been levied in the cities of Chongqing and Shanghai.
- Chinese cities see property prices fall - Jul 18, 2011
- Property prices drop in Chinese cities in December - Jan 18, 2012
- China's property prices remain depressed - Feb 18, 2012
- China likely to relax property policies in 2012 - Nov 20, 2011
- Home prices down in China - Apr 18, 2012
- Chinese cities see housing price decline in November - Dec 18, 2011
- China's Producer Price Index falls - May 11, 2012
- China's inflation, food prices record steep rise - Sep 11, 2010
- China's inflation eases to 6.1 percent in September - Oct 14, 2011
- China's inflation hits three-year high in June - Jul 09, 2011
- China to publish quarterly GDP growth reports - Apr 08, 2011
- China's Producer Price Index rises in December - Jan 12, 2012
- Spanish home sales up 30 percent in August - Oct 14, 2010
- China's GDP falls to two-year low - Oct 19, 2011
- Housing turns into costly affair in China - Feb 20, 2011
Tags: beijing, bureau of statistics, chinese cities, chongqing, declines, government efforts, hangzhou, home buyers, housing units, major cities, market authorities, ministry of housing, national bureau of statistics, nbs, property taxes, rapid growth, rural development, shanghai, transaction volume, xinhua