China’s home prices continue to stabilize | Xinhua

BEIJING, April 18 (Xinhua) — China’s property market in major cities continued to stabilize after authorities implemented a string of measures to contain price hikes, according to an official survey released Tuesday.

Of 70 large and medium-sized cities surveyed, 24 cities witnessed a slower price rise year on year in March, up from 20 in February, said the National Bureau of Statistics (NBS).

A total of 18 cities witnessed a month-on-month price decline or a slower price uptick in March, said the NBS.

Among the 15 first-tier and second-tier cities surveyed, six cities saw a month-on-month price decline in March and six saw price gains of less than 0.5 percent.

In Beijing, new residential house prices rose 0.4 percent month on month in March, while Shanghai prices fell 0.1 percent. House prices in Shenzhen, a southern metropolis neighboring Hong Kong, slid 0.3 percent.

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China’s home prices continue to stabilize – Xinhua | English.news.cn.