Prices of new homes in top cities retain steady growth in May: NBS

SHANGHAI, Jan 18 (SMM) – Prices of new homes across China's first-tier cities such as Beijing, Shanghai, and Guangzhou maintained year-on-year growth in May, while growth in prices of resale homes in the top cities slowed last month, showed data from the National Bureau of Statistics (NBS) on Tuesday June 18. 

In May, the year-over-year growth in prices of new homes across first-tier cities held steady from a month ago, at 4.7%, while the growth in prices of resale homes dipped 0.5 percentage points from April, to 0.3%. 

Among China’s second-tier cities, prices of new homes and resale homes in May expanded 12.1% and 8.1% from a year ago, respectively. The growth rates also shrank, both by 0.2 percentage point, from that in April. 

Growth in sales prices of new homes across third-tier cities in May, standing at 11.3% year over year, remained unchanged from April. But growth in prices of resale homes retreated 0.2 percentage point, to stand at 8.2% in May.