comments and feedback

Commercial Housing Sales Prices Deliver a Mixed Performance in Tier-1 and Tier-2 Cities

Rising Momentum in Tier-3 Cities Kept at Bay

Submit Time:15-08-2018 | Zoom In | Zoom Out

Author: | Source:National Bureau of Statistics on July 17, 2018

Abstract:

The National Bureau of Statistics released today statistics on movements in commercial housing sales prices of 70 large-to-medium-sized cities in June 2018. In this regard, Liu Jianwei, a senior statistician from the Department of Urban Surveys of the National Bureau of Statistics, gave his interpretation.  

First, commercial housing sales prices remain stable overall in tier-1 cities, go up slightly in tier-2 cities, and see the rising momentum kept at bay in tier-3 cities.  

In June 2018, different localities across the country continued to strive for the realization of macro-control targets with unremitting efforts. By strictly carrying out various control measures, they aimed to promote the real estate market towards healthy development. According to preliminary estimations, out of the surveyed 70 large-to-medium-sized cities, four tier-1 cities kept the sales prices of new commercial housing on par with the previous month, and saw the sales prices of second-hand housing ended their drop and went up by 0.1% over the last month. In the 31 surveyed tier-2 cities, the sales prices of new commercial housing and second-hand housing rose by 6.3% and 4.6% over the last month, up 0.9 and 0.2 percentage point over the previous month, respectively. In the 35 surveyed tier-3 cities, the sales prices of new commercial housing and second-hand housing rose by 6.0% and 4.3% over the last month, both remaining on par with the last month.  

From the month-on-month point of view, the sales prices of new commercial housing in tier-1 cities went up by 0.6%, up 0.3 percentage point over the last month. Of these, the prices remained on par with the previous month in Beijing and Shanghai, while the prices rose by 1.9% and 0.3% in Guangzhou and Shenzhen, respectively. The sales prices of second-hand housing in the four cities remained the same level with the prior month. In the tier-2 cities, the sales prices of new commercial housing and second-hand housing rose by 1.2% and 0.7% over the last month, respectively. In the tier-3 cities, the sales prices of new commercial housing and second-hand housing grew by 0.7% and 0.6% over the previous month, respectively.  

Second, the 15 attention-catching cities witnessed their sales prices of new commercial housing delivering a mixed performance.  

In June, among the 15 attention-catching cities, two witnessed their sales prices of new commercial housing declining on a month-on-month basis. The number of the last month was five. The drop was up to 0.2%. Three of them maintained their sales prices of such housing on par with that of the last month. The number of the prior month was one. Ten of them saw their sales prices of the housing on the rise. The number of the previous month was nine. The largest increase reached 3.6%. From the year-on-year point of view, there were seven cities whose sales prices of new commercial housing went down. The number of the last month was eight. The fall was up to 2.2%. Eight cities saw their sales prices of such housing on the rise. The number of the prior month was seven. The rise was up to 5.3%.  


Related Articles