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E-mail Xinhua, March 15, 2024
An aerial drone photo taken on Dec. 21, 2023 shows a city view of Changzhou, east China's Jiangsu Province. [Photo/Xinhua]
Major Chinese cities reported falling home prices in February, with narrowed month-on-month declines, official data showed on Friday.
In the four first-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, prices of new homes edged down 0.3 percent in February from a month ago, the National Bureau of Statistics said in a statement. Meanwhile, 31 second-tier cities and 35 third-tier cities registered 0.3 percent and 0.4 percent home price declines, respectively.
Prices of resold homes fell 0.8 percent, 0.8 percent, and 0.6 percent from a month ago in first, second and third-tier cities, respectively.
Compared to a year earlier, the 70 large and medium-sized cities in general saw price drops due to a high base. New home prices in first-tier cities slipped 1 percent, and that in second and third-tier cities went down 1.1 percent and 2.7 percent, respectively.
For resold homes, the price declines stood at 6.3 percent in first-tier cities and 5.1 percent for both second and third-tier cities, according to the data.
