China

1st LD: China's home prices slightly increase in March

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BEIJING, April 16 (Xinhua) — China continued to see a generally stable housing market in March, with home prices in 70 major cities showing mild month-on-month increases, official data showed Friday.

New home prices in four first-tier cities — Beijing, Shanghai, Shenzhen and Guangzhou — rose 0.4 percent month on month in March, compared with a 0.5-percent increase registered in February, according to data from the National Bureau of Statistics (NBS).

A total of 31 second-tier cities saw a month-on-month increase of 0.5 percent in new home prices, while 35 third-tier cities witnessed a month-on-month rise of 0.3 percent in new home prices last month.

The resale home market in first-tier cities saw prices increase 1 percent month on month in March, edging down 0.1 percentage points from February.

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Prices of resale homes in second-tier cities saw a 0.4-percent month-on-month increase, while those in third-tier cities climbed 0.3 percent.

On a year-on-year basis, home prices registered faster expansion due to low base effects, according to the NBS.

New home prices in first-tier cities rose 5.2 percent in March, up from 4.8-percent growth in February, while those in second-tier cities went up 4.8 percent, up from a 4.5-percent expansion in the previous month.

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The resale home prices in first-tier cities grew 11.4 percent from a year earlier, expanding 0.6 percentage points from the growth in February.

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