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在线翻译:
szdaily -> Business -> 
Prices for both new and resale properties fall: private survey
    2021-12-02  08:53    Shenzhen Daily

PRICES for both new and resale homes in China fell amid weaker demand in bigger cities, a private sector survey showed yesterday.

New home prices in 100 cities dipped 0.04 percent in November from a month earlier, compared with 0.09 percent growth in October, according to data from China Index Academy, one of the country’s largest independent real estate research firms.

That was the first decline in the survey since 2015, except for a drop of 0.24 percent in February 2020. Only 30 percent of 100 cities reported monthly price rises for new homes.

Prices in the resale home market fell 0.08 percent month on month, deepening from a 0.04 percent decrease in October.

Official data for October had shown a price drop for that month for new homes, the first decline since March 2015, and falling resale prices in most cities, along with a plunge in construction starts.

“The downward trend in the property market remains unchanged in the near future,” said the academy’s research director Cao Jingjing.

Contract sales by the country’s top 100 developers plunged 38 percent from a year earlier to 751 billion yuan (US$118 billion), sharper than the 32 percent drop in the previous month, according to preliminary data compiled by research firm China Real Estate Information Corp.

“National sales growth will remain weak for the next six to 12 months,” Moody’s Investors Service analysts wrote in a note yesterday. Oxford Economics expected the property downturn would continue into the first half of 2022. (SD-Agencies)

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