(Yicai Global) May 16 -- The sales prices of commercial housing in China's first-tier cities witnessed a further annual decline last month, and price rises in second- and third-tier cities slowed, Liu Jianwei, a senior statistician with China's statistics bureau said, as the agency yesterday released relevant statistical data on changes in 70 large and medium cities in April.
As local governments continued to stiffen their controls to maintain the continuity and stability of policies the decline in the prices of new commercial residential houses and second-hand homes in first-tier cities intensified by 0.4 percent and 0.6 percent, respectively, last month from the one before.
The annual increase in prices of new commercial housing in second-tier cities remained unchanged over the previous month. The annual rise for second-hand homes slowed by 0.1 percentage points from March, while the annual increase in for new commercial units and second-hand homes in third-tier cities both dropped by 0.3 percentage points from the previous month.
Among the 70 large and medium-sized cities, the sales prices of new commercial housing in 15 cities stayed stable. Prices of new commercial housing in seven cities dropped calculated monthly, while other cities rose slightly. Prices of new commercial housing in 10 cities dropped on an annualized basis, while other cities edged up slightly.
Editor: Ben Armour