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New home prices in 100 major Chinese cities down 0.01% MoM in Apr

May 4, 2015 (China Knowledge) - The average new residential property price in 100 major Chinese cities edged down 0.01% month on month in Apr to RMB 10,522 per square meters (sq m) with a decline narrowing 0.14% from a month earlier, according to statistics released by the China Real Estate Index System, a private data provider.

Among these, 39 out of 100 major cities experienced a growth in home price and 60 a reduction as compared to the previous month. Price in only one city remained unchanged last month.

On a yearly basis, 10 of the 100 cities experienced a rise and 90 cities reflected a drop last month.

Last month, new home prices in top ten cities including Beijing and Shanghai reached RMB 18,961 per sq m, edged up 0.12% from the previous month but declined 3.46% year on year.

Meanwhile, the average price of resale homes in top ten cities gained 1.10% over the month earlier but sank 2.13% compared with a year earlier to RMB 26,629 per sq m. 

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