In April of the current year, the average new house price in 100 cities of China amounted to RMB 15,952/square meter ($2,466/sq.m.), up 4.05 percent year on year, 0.02 percentage points slower than the year-on-year growth recorded in March this year, while up 0.23 percent month on month, 0.03 percentage points faster than the month-on-month growth recorded in March, as announced by CRIC, a real estate research institute of E-House, a Shanghai-based real estate transaction service provider.
In particular, in April, 77 cities indicated month-on-month rises, 20 cities indicated month-on-month declines, while the remaining three cities saw a stable price trend.
The average second-hand house price in 100 cities of China amounted to RMB 15,732/square meter ($2,432/sq.m.), up 3.58 percent year on year, 0.1 percentage point faster than the year-on-year growth recorded in March this year, while up 0.5 percent month on month, 0.06 percentage point faster than the month-on-month growth recorded in March.
In April, the Ministry of Housing and Urban-Rural Development of China (MOHURD) held a meeting with officials of five cities which indicated rapid growth in housing prices, namely, Guangzhou, Hefei, Ningbo, Dongguan and Nantong, urging them to assume their responsibility for ensuring stabilization of land prices, housing prices and buyers’ sentiments. Meanwhile, China’s National Development and Reform Commission (NDRC) announced that cities whose long-term residents are lower than 3.0 million will fully lift restrictions on household registrations, which will effectively ease pressure on the excessively densely-populated big cities. Furthermore, the central government has required major Chinese cities to ensure supply of quality land for bidding among real estate developers, which will increase the supply of housing and control the rapid growth of housing prices.
$1 = RMB 6.4678