NBS data shows Chinese housing prices remain buoyant

The rising prices of new residential housing in 70 major Chinese cities, on a yearly basis, in December 2018 showed the country's real estate market is still strong, according to statistics from the National Bureau of Statistics (NBS) on Wednesday.

The top cities such as Beijing, Shanghai, Guangzhou and Shenzhen witnessed housing price rises at the end of 2018 of 1 percent, 0.6 percent, 3 percent and 0.4 percent, respectively, compared with the previous month, NBS said.

According to Liu Jianwei, NBS senior statistician, December's prices of new residential housing increased in the first-tier cities compared with November 2018, but the prices of second-hand houses decreased. Housing prices for second-tier cities were stable.

Liu noted the average price growth of new residential housing and second-hand housing in first- and second-tier cities that were surveyed declined on a year-on-year basis.

The most outstanding price performer in December 2018 was Guangzhou, with a 3 percent housing price surge, month-on-month, NBS data showed.

NBS also noted that three out of 15 popular cities decreased their housing prices of new commercial homes with the largest decline at 0.4 percent.

(GLOBAL TIMES)