Xinhua | January 17, 2024
Major Chinese cities reported falling home prices in December compared to the previous month, data from the National Bureau of Statistics showed Wednesday.
In the four first-tier cities, namely Beijing, Shanghai, Guangzhou and Shenzhen, prices of new homes edged down 0.4 percent last month, while that of resold homes dropped 1.1 percent, according to the data.
Prices of both new homes and resold homes in 31 second-tier cities and 35 third-tier cities in general also went down in December from a month earlier, the data showed.
On a year-on-year basis, new home prices witnessed mixed performances in Chinese cities in December.
For new homes, first-tier cites saw prices down 0.1 percent; second-tier cities saw marginal price increases; and smaller cities reported a 1.8 percent price decline.
For resold homes, there were declines across the board in prices in December year on year, according to the data.