A salesperson (right) introduces a residential project to prospective homebuyers at a real estate agency during the National Day holiday, on Oct 5, in Beijing. (HOU YU / CHINA NEWS SERVICE)
BEIJING – China's home prices in 70 large and medium-sized cities eased in October, with more cities seeing a decline in home prices, the National Bureau of Statistics said Wednesday.
New home prices in four first-tier cities – Beijing, Shanghai, Shenzhen and Guangzhou – edged down 0.1 percent month on month in October, unchanged from the prior month, according to the data from the National Bureau of Statistics
In October, 58 out of the 70 cities saw a month-on-month drop in new home sales prices, compared with 54 in September. A total of 62 cities witnessed a decrease in resale home prices, up from 61 in the previous month.
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New home prices in four first-tier cities – Beijing, Shanghai, Shenzhen and Guangzhou – edged down 0.1 percent month on month in October, unchanged from the prior month, according to the data.
New home prices in 31 second-tier cities decreased 0.3 percent month on month, 0.1 percentage points greater than that in September, while 35 third-tier cities saw a month-on-month decline of 0.4 percent.
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Prices of resale homes in the four first-tier cities decreased 0.3 percent month on month. The prices in second-tier and third-tier cities both edged down 0.5 percent month on month in the period.