New home prices in 100 cities rose 0.35% in July from a month earlier, versus 0.36% growth in June, according to data from China Index Academy, one of the country’s largest independent real estate research firms. “New home growth softened in July against the backdrop of stringent measures and tighter credit”, said the group’s director, Cao Jingjing. Growth in home sales is expected to remain mild as the curbs are unlikely to be eased, the survey said. Price growth in China’s biggest cities such as Shanghai and Beijing, however, continued to accelerate, up 0.54% versus June’s 0.48% growth, suggesting persistent demand for properties in the country’s economically most vibrant cities. Resale homes also showed slower month-on-month price growth in July, while existing home prices in Shenzhen were down 0.43% on-month.

Source: MetroXpress August 01, 2021 04:52 UTC