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China new home prices tick higher in November

FXStreet (Mumbai) - As reported by Economic Information Daily via MNI, the China Index Academy (CIA) showed that New home prices in China's 100 major cities was CNY10,899 per square meter, up 0.46% in Nov from a month earlier, which is 0.16 percentage point higher than last month.

The average price of houses in the 10 major cities including Beijing and Shanghai, was CNY20,391 per square meter in November, up 0.99% m/m. It was up 7.63% on-year. The upward trend of home prices in Tier-1 cities has been suffering due to high land price, while prices in Tier-2 and Tier-3 cities are expected to stabilize with the release of inventories, CIA notes.

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