Home prices con­tinue their de­cline in cities

China Daily (Canada) - - NEWSCAPSULE -

China’s home prices con­tin­ued a down­ward trend in more cities in June.

New home prices in 55 of a sam­ple of 70 ma­jor cities showed month-on-month drops in June, com­pared with 35 in May, the Na­tional Bureau of Sta­tis­tics (NBS) said in a state­ment.

Only eight cities, in­clud­ing Bei­jing, saw month-on-month gains, down from 15 in May.

How­ever, on a year-on-year ba­sis, new home prices in most cities are still higher than a year ago.

e slow­down in the prop­erty mar­ket came amid sub­dued strength in the broader econ­omy, bring­ing chal­lenges to pol­i­cy­mak­ers as the hous­ing mar­ket has been an im­por­tant growth en­gine for China. (Photo 2)

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