NBS: MoM increase in sales prices of commercial housing in Chinese cities expanded in January

SHANGHAI, Feb 23 (SMM)—Sales prices of newly-built commercial housing in 4 first-tier cities in China increased by 0.6% month-on-month in January, according to data from National Bureau of Statistics (NBS).

Prices rose by 0.5%, 0.6%, 1% and 0.3% in Beijing, Shanghai, Guangzhou and Shenzhen respectively. Sales prices of new commercial housing and second-hand housing in 31 second-tier cities both increased by 0.4% month-on-month, while prices in 35 third-tier cities rose by 0.2% and 0.3% respectively from the previous month.