The National Bureau of Statistics announced that housing prices in China's major cities rose in February. According to the bureau, 70 out of 55 large and medium-sized cities experienced an increase in new housing prices, while second-hand housing prices in 40 cities increased. The bureau's senior statistician, Sheng Guoqing, said on the data that the effect of government policies to stabilize the real estate market is gradually emerging and housing demand is further liberalized.
New home prices in four top-notch cities (Beijing, Shanghai Shenzhen and Guangzhou) rose 0,2 percent, at the same growth rate as in January. Housing prices, which increased by 31 percent in January in 0.1 second-tier cities, increased by 0,4 percent in February. New housing prices in 35 third-tier cities, on the other hand, rose 0,1 percent, reversing the 0,3 percent decline recorded in January.
Signs of warming were also seen in the second-hand market, as prices in first and second-tier cities increased by 0,7 percent and 0,1 percent, respectively, on a monthly basis, and ended the streak of remaining steady in third-tier cities.