www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

Economy

Markets

Industries

Insights

Reports

Events

China's realty prices dip further in December

By Wang Lan (China Daily)
Updated: 2009-01-10 07:49

The nation's urban house prices fell by an average 0.4 percent in December compared with the same period last year, representing the only year-on-year decline since the data was first published in July 2005 and a reminder of China's uncertain economic outlook.

Compared to November's level, the urban house prices in December fell 0.5 percent, according to a survey conducted by the National Development and Reform Commission (NDRC).

Special Coverage: Housing in China Related readings:  Shanghai property boom fading away  REIT plan gets set for finishing touches  Poly real estate 2008 property sales hit 20.5b yuan  Vanke sales up 3.4% year-on-year, but down from October

Industry analysts said the government's latest measures to boost the property market will have a limited impact in the early months of 2009 and the domestic property sector would face its most difficult period in the months following the Spring Festival.

"The price drop indicates the property market is still going downhill," said Shuai Hu, a real estate analyst at Haitong Securities in Shanghai. "It will take some more time for potential home buyers to return to the market, although recent transactions in some second-tier cities showed signs of picking up," he added.

The prices of some categories of property moved against the overall trend, the NDRC survey shows. Prices of low-cost housing rose 0.6 percent in December compared to a year earlier period.

The average price of high-end residential apartments dropped 1.1 percent year-on-year, while the price of average residential houses fell 0.9 percent.

Prices of newly completed apartments in some second- tier cities, including Yinchuan, Urumqi, Xining and Guiyang, in provinces of the western area have increased, while property in the major cities, such as Shenzhen, Guangzhou, Nanjing and Chongqing, have fallen. Shenzhen, for instance, reported its sharpest year-on-year decline in prices. Prices fell by 18.1 percent followed by Guangzhou where property prices fell by 9.4 percent.