China prices fell in the new home for the twenty -first month in February, when a recovery continued to overcome the main economic sector, stressing the need for further bold measures to achieve stability in the market.
Through 70 cities from the mainland, the prices of new homes fell in February 0.1 percent a month, the same decrease in January, according to data issued by the National Bureau of Statistics (NBS) on Monday. The prices of new homes decreased by 5.2 percent on an annual basis, which is slightly less than 5.4 percent less on year in January.
The prices of used homes decreased by 0.3 percent a month in February through 70 cities, the same decrease as in January. On an annual basis, it decreased by 7.5 percent, as well as a loss of 7.8 percent in January.
“Since February is a traditionally slow season for the market, this decrease is normal,” said Yan Yijin, Vice President of the Institute for Real Estate Research in China in Shanghai. “In the first half of the year, the housing price index will witness a constant restriction of the decreases, as some cities lead the price increase.”
Through the four Upper Cities of China, Biekeen, Shanghai, Guangzhou and Shanshen-the prices of new homes increased by 0.1 percent a month in February, the same increase in January. The prices of used houses in those cities lost 0.1 percent last month, after an increase of 0.1 percent in January.
New-HOMES prices have not changed in second-class cities, including Tianjin, Wuhan and Chengdu, compared to 0.1 percent in January. The prices of used houses in those cities decreased by 0.4 percent, increasing 0.1 percent in January.
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