BEIJING — Prices of new homes in China rose at a faster pace in October, traditionally a peak season for house hunting, a private survey showed on Friday, suggesting that recent support measures could be having some early impact in a crisis-hit market.
The average price across 100 cities edged up 0.29 percent, compared with the previous month's 0.14 percent, according to data released by property researcher China Index Academy.On a year-on-year basis, the average price rose 2.08 percent versus 1.85-percent growth in September.The property market, once accounting for roughly a quarter of economic activity, is grappling with a prolonged downturn since 2021 and remains a major drag on the world's second-largest economy.
However, the small cities continue to languish, underscoring cautious buyer sentiment that has chilled the real estate market in recent years.Average new home prices fell 0.02 percent from a month earlier in smaller cities last month, the China Index Academy data showed.New homes sold by value fell 34.7 percent year on year in January-October, though they rose 10.53 percent in October, according to a separate survey released by the academy a day earlier.
New Home Prices Grew Faster In October
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
vivo unveils X200 Series at Beijing’s Water Cube on October 14th 2024Redefining the future of mobile experience 'Far Beyond Imaging' BEIJING, CHINA – vivo launched the flagship X200 series on October 14, 2024 at the Beijing Water Cube, marking a new era of the X-series' premium mobile experience.
Read more »
Beijing on its ‘One China’ principle“This came in the mail from the Chinese embassy.” We received in our inbox a letter-statement from the Chinese embassy in Manila explaining its stand on
Read more »
China's response to Marcos: Beijing to advance SCS code of conduct with ASEANLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
Marcos on acceleration of ASEAN-China Code of Conduct talks: Onus now on BeijingLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
China backs listing of SMEs on Beijing bourseBEIJING ― China will intensify its support for the listing of high-quality innovative small and medium enterprises (SMEs) on the Beijing Stock Exchange and the 'new third board,' a financing platform designed for SMEs.
Read more »
Beijing gets new Catholic bishop, days after Vatican-China deal renewalLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »