China Home Prices Continue to Cool

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China's property sector continued to cool in November, but the declines have been narrowing on the support of government policy adjustments, official data showed on December 18th.

New home prices in 67 out of 70 major cities reported month-on-month drops last month, the National Bureau of Statistics (NBS) said, whereas prices in the cities of Hefei, Nanjing and Shenzhen remained flat.

New home prices in Beijing and Shanghai dropped by 0.3 percent and 0.5 percent, respectively, narrowing from 1.3-percent and 0.7-percent falls a month earlier.

For existing homes, only 58 cities saw prices drop last month, compared with 64 in October. Six cities, mostly first-tier cities such as Beijing and Shenzhen, saw second-hand home prices rise.


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