Home prices increase, signaling recovery in demand
Home prices in 100 of the biggest cities in China climbed 0.6 percent month-on-month on average in January, signaling a recovery in demand, according to the findings of a survey released by the China Real Estate Index System.
The average price of a new property was recorded at 11,092 yuan ($1,690) per square meter, up 5.25 percent year-on-year, with 61 cities recording month-on-month growth in prices.
Analysts said recent government policies have helped in managing diverse risks in firsttier cities where the market tended to get overheated.
In second- and lower-tier cities, recent moves to relax mortgage down- payment requirements have helped boost sales of first and even second homes.