Chinese apartment prices rise

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Sale prices for newly-built commercial apartment buildings in China´s 70 large and medium-sized cities grew 6.1 per cent in January, down 0.2 percentage points from the previous month.

A report from the National Development and Reform Commission and the National Bureau of Statistics revealed which major cities experienced housing price hikes, including Shenzhen up 10.2 per cent, Beijing up 9.9 per cent, Fuzhou up 9.4 per cent and Guangzhou up 8.9 per cent.

Hefei and Shanghai however, recorded a mild reduction in housing prices.

Prices for used apartments in these cities in January rose 5.3 per cent, up 1.1 percentage points over the previous month, and those for non-residential buildings increased 4.5 per cent, up 0.1 percentage points.

The sales prices for newly-built commercial apartments, used apartments and non-residential buildings in 70 cities in January went up 5.6 per cent, 0.2 percentage points faster than the previous month.