{"id":24624,"date":"2021-08-03T08:35:35","date_gmt":"2021-08-03T01:35:35","guid":{"rendered":"https:\/\/www.asiapropertyawards.com\/?p=24624"},"modified":"2021-08-03T08:35:35","modified_gmt":"2021-08-03T01:35:35","slug":"chinas-new-home-prices-slowdown-as-cooling-measures-take-off","status":"publish","type":"post","link":"https:\/\/www.asiapropertyawards.com\/en\/chinas-new-home-prices-slowdown-as-cooling-measures-take-off\/","title":{"rendered":"China’s new home prices slowdown as cooling measures take off"},"content":{"rendered":"

Price growth in main cities like Beijing and Shanghai, yet,\u00a0continued to accelerate at 0.54 percent compared to 0.48 percent in June\u00a0<\/span>\u00a0<\/span><\/p>\n

\"\"
New home prices in 100 cities rose 0.35 percent in July compared with the 0.36 percent growth in June. MatyasRehak\/Shutterstock<\/figcaption><\/figure>\n

According to South China Morning Post<\/a>,\u00a0cooling\u00a0measures\u00a0such as higher mortgage rates and price caps on resale homes\u00a0slow China\u2019s growth in new home prices, particularly in smaller cities.\u00a0<\/span>\u00a0<\/span><\/p>\n

Based on data from independent real estate research firm, China Index Academy, new home prices in 100 cities rose 0.35 percent in July compared with the 0.36 percent growth in June.\u00a0<\/span>\u00a0<\/span><\/p>\n

Chinese authorities implemented measures this year to control the red-hot real estate market, including caps on developers\u2019 borrowing and strict bans on illegal flows of funds into the sector. <\/span>\u00a0<\/span><\/p>\n

Cao Jingjing, the group\u2019s director, said,\u00a0<\/span>\u201cNew home growth softened in July against the backdrop of stringent measures and tighter credit.\u201d\u00a0<\/span>\u00a0<\/span><\/p>\n

Growth in home sales is anticipated to remain mild as the curbs are unlikely to be eased.\u00a0<\/span>\u00a0<\/span><\/p>\n

In July, China\u2019s housing ministry encouraged five cities to\u00a0stabilise\u00a0their property markets, while the central bank demanded lenders in Shanghai to increase interest rates on mortgage loans.\u00a0<\/span>\u00a0<\/span><\/p>\n

China\u2019s smaller tier-three and tier-four cities\u2019 prices rose 0.21 percent on-month, versus 0.29 percent in June. Tier-two cities gained 0.29 percent, slowing from June\u2019s 0.31 percent.\u00a0<\/span>\u00a0<\/span><\/p>\n

However, price growth in China\u2019s biggest cities such as Beijing and Shanghai continued to\u00a0accelerate at 0.54 percent compared to June\u2019s 0.48 percent growth. This suggests\u00a0steady\u00a0demand for properties in the country\u2019s\u00a0most\u00a0economically vigorous\u00a0cities.\u00a0<\/span>\u00a0<\/span><\/p>\n

More: Hotel transactions in China predicted to return to pre-Covid levels<\/strong><\/a><\/p>\n

On an annual basis, China\u2019s new home prices grew 3.81 percent in July, slowing from the 3.89 percent gain in June.<\/span>\u00a0<\/span><\/p>\n

July data for China\u2019s home prices will be officially released by the National Bureau of Statistics in mid-August.<\/span>\u00a0<\/span><\/p>\n

\n

The Property Report editors wrote this article. For more information, email: propertyreport@propertyguru.com<\/a>.<\/em><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Price growth in main cities like Beijing and Shanghai, yet,\u00a0continued to accelerate at 0.54 percent compared to 0.48 percent in June\u00a0\u00a0<\/p>\n","protected":false},"author":12,"featured_media":24625,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[92,1],"tags":[137,165,1058,1152],"class_list":["post-24624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-property-report","tag-china","tag-cooling-measures","tag-market-insights","tag-slow-growth","news_country-china","news_author-property-report"],"acf":[],"yoast_head":"\nChina's new home prices slowdown as cooling measures take off | Asia Property Awards<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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