Housing stabilizes as steps curb speculation
The overheated residential property markets in 15 key cities in China “obviously cooled down” in November, said a research report from the National Bureau of Statistics on Monday, based on housing price data from 70 monitored cities.
Prices of newly-built properties went down in four cities, and prices of pre-owned properties declined in seven, showing that measures by various cities to use steps appropriate to local conditions to curb too fast growing housing prices have been effective, and housing prices are stabilizing, said Liu Jianwei, senior statistician with NBS.
In key cities, housing prices remain basically the same as last year, said Liu.
The average price of newlybuilt residential properties went up 0.1 percent month-on-month in first-tier cities, while the price of pre-owned properties remained the same.