China’s biggest cities saw a faster increase in prices of new residential houses and second-hand homes in December, official data showed, as analysts said demand for housing in competitive school districts was further heating up the market, reported Caixin.
In December, the prices of new homes across China’s so-called first tier cities — Beijing, Shanghai, Shenzhen and Guangzhou — grew in aggregate by 0.3% from the previous month, a slightly faster pace than the 0.2% month-on-month increase in November, according todata from the National Bureau of Statistics (NBS). Prices in Shenzhen dipped against the trend.
In midsize and smaller cities, the prices of new homes climbed at the same speed at 0.1% month-on-month growth in December as they did in the previous month, the data showed.