New home prices in China's 70 large and medium-sized saw a slight drop in February, Xinhua News Agency reported Monday, citing the National Bureau of Statistics.
The decline was attributable to the impact of the Spring Festival sales off-season and other factors, Xinhua said.
New home prices in China's first-tier cities such as Beijing and Shanghai rose 0.1% month on month in February, while they remained flat in second-tier cities, the report said.
The resale market saw a decline of 0.4%, Xinhua said.
New commercial housing sales slipped 7.8 percentage points in terms of floor area and fell 14.5 percentage points value-wise compared with a full-year decline in 2024, Xinhua said, citing NBS spokesperson Fu Linghui.
Meanwhile, property development investment also declined 9.8% year over year in January and February, narrower by 0.8 percentage points compared with the fall in full-year 2024, the report said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.