Prices of commodity housing in first-tier cities ticked up month on month in March, according to the data released by the National Bureau of Statistics on Thursday.
The statistics show that in March, among the 70 major and medium-sized cities, the month-on-month declines in second- and third-tier cities narrowed or remained unchanged.
The number of cities where prices of both new and second-hand commercial residential buildings went up month on month increased compared to the previous month.
In March, the month-on-month price of new commercial housing in first-tier cities shifted from remaining flat in the previous month to rising by 0.2 percent.
Specifically, Beijing remained flat while Shanghai, Guangzhou, and Shenzhen edged up by 0.3 percent, 0.3 percent, and 0.2 percent, respectively.
The month-on-month prices of new commercial housing in second- and third-tier cities dipped by 0.2 percent and 0.3 percent, respectively, with the rate of decline remaining the same as in the previous month.
Among the 70 major and medium-sized cities, 14 saw a month-on-month increase in new commercial housing prices, an increase of 4 from the previous month.
In March, the month-on-month change in resale property prices in first-tier cities shifted from a 0.1-percent decline in the previous month to a 0.4-percent increase.
Specifically, Beijing, Shanghai, Guangzhou, and Shenzhen went up by 0.6 percent, 0.4 percent, 0.2 percent, and 0.4 percent, respectively.
In second- and third-tier cities, pre-owned home prices fell by 0.2 percent and 0.4 percent month on month, respectively, with the rate of decline narrowing by 0.2 and 0.1 percentage points, respectively.
Among the 70 major and medium-sized cities, 13 saw month-on-month uptick in second-hand residential sales prices, an increase of 11 from the previous month.
In March, prices for new commercial residential properties in first-tier cities fell by 2.2 percent year on year, with the rate of decline remaining the same as the previous month.
Among them, Shanghai saw a 3.7-percent increase, while Beijing, Guangzhou, and Shenzhen recorded declines of 2.1 percent, 4.7 percent, and 5.5 percent, respectively.
Prices for new commercial residential properties in second-tier cities fell by 3.3 percent year on year, with the rate of decline widening by 0.2 percentage points.
In third-tier cities, prices for new commodity properties fell by 4 percent year on year, with the rate of decline remaining unchanged from February.
In March, prices for resale residential properties in first-tier cities fell by 7.4 percent year on year, with the rate of decline narrowing by 0.2 percentage points compared to last month.
Specifically, Beijing, Shanghai, Guangzhou, and Shenzhen saw declines of 8.3 percent, 6.2 percent, 8.1 percent, and 7 percent, respectively.
Prices for pre-owned homes in second-tier cities dropped by 6.2 percent year on year, with the rate of decline remaining unchanged from the previous month.
Prices for existing homes in third-tier cities went down by 6.4 percent year on year, with the rate of decline widening by 0.1 percentage points.
Commodity housing prices in first-tier cities rise month on month in March: data
