China's Housing Market Started to Recover From Virus Last Month
Tang Shihua
DATE:  Apr 16 2020
/ SOURCE:  Yicai
China's Housing Market Started to Recover From Virus Last Month China's Housing Market Started to Recover From Virus Last Month

(Yicai Global) April 16 -- China's property market demand started to show signs of recovery from the coronavirus pandemic last month, with major cities’ housing prices rising slightly, data released by the country’s National Bureau of Statistics today show.

New home prices in 70 Chinese cities recorded larger monthly increase, while existing-home prices registered a slight per-month increase, as against February’s decline.

New Home prices in the four largest cities of Shanghai, Beijing, Shenzhen and Guangzhou, climbed by 0.2 percent from February, according to bureau data. February prices were flat with January’s.

Existing-home prices in these cities rose by 0.5 percent in a 0.3 point broader pace of growth than from January to February.

A similar trend is also evident in most other cities, though in Wuhan, the former epicenter of the Covid-19 outbreak, no transactions occurred and thus no price change was logged.

Compared with the same time last year though, the price increase rate for new homes was down, while only the big four tallied marginal increases in the rising trend of existing home prices.

Editor: Ben Armour

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Keywords:   Housing Price,Major Cities,Economic Data,NBS