Financial news
Home
Knowledge Hub
China's June new home prices rise at slowest pace in five months, survey shows Reuters Economy
2024-07-01 12:25:19

BEIJING (Reuters) - Prices of new homes in China climbed at their slowest pace in five months in June, a private survey showed on Monday, with a recent major government package of support measures for the country's ailing property sector having only a limited impact so far.


The average price for new homes across 100 cities edged up 0.15% month-on-month in June, weaker than a 0.25% gain in May, according to data from property researcher China Index Academy.


The value of new home sales at China's top 100 real estate companies slid 41.6% in January-June from the same period a year ago, it also said.


In May, Chinese authorities unveiled what they called a historic support package for the property sector that has been hit hard by a liquidity crunch since 2021 with many firms defaulting on debt.


The package further cut downpayment requirements and removed the floor for mortgage rates. Local governments can also now instruct state-owned firms (SOEs) to purchase completed unsold apartments from property developers and convert them into social housing.


The China Index Academy data also showed the average price of second-hand homes across 100 cities fell 0.73% in June from a month earlier, the 26th straight month of declines.

CREATE ACCOUNT

×
1
Personal Identification
2
Address Verification
3
Employment & Financial Profile
4
Trading Experience & Risk Awareness
5
Professional Account Eligibility
6
Source of Funds & Compliance
7
Corporate Entity Information
8
Review & Submit

Personal Identification

Please enter a valid email address.
Please enter a valid phone number.
Your password must be 6-20 characters long, contain letters, numbers and special characters, and must not contain spaces or emoji.
Password not match.
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required
This field is required

Address Verification

This field is required
This field is required
This field is required

Employment & Financial Profile

This field is required
This field is required
This field is required
This field is required
(excluding property) (USD)
This field is required

Trading Experience & Risk Awareness

This field is required
This field is required
This field is required
This field is required

Professional Account Eligibility (Optional)

Source of Funds & Compliance

This field is required

Corporate Entity Information

Complete this section only if you're opening a corporate account

Review & Submit

Please review all information carefully before submitting. You can go back to any step to make changes.
This field is required
This field is required
This field is required

Registration Successful

Your account has been created successfully!