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Home prices in China’s major cities continued to climb in January, signaling a steady recovery in the country’s housing market. According to the latest data from the National Bureau of Statistics, new and second-hand residential property prices in first-tier cities like Beijing, Shanghai, Guangzhou, and Shenzhen saw a modest month-on-month increase of 0.1%.
This upward trend isn’t just limited to the top cities. For the first time since June 2023, second-tier cities also experienced a rise in new home prices, ticking up by 0.1% compared to the previous month. However, second-hand housing in these cities experienced a slight dip, falling by 0.3% month-on-month, consistent with December’s figures.
Despite the mixed signals, the overall decline in home prices across first, second, and third-tier cities has been narrowing on a yearly basis. Experts suggest that these trends indicate a stabilization of the housing market after a period of fluctuations.
The steady rise in home prices reflects growing consumer confidence and could have significant implications for economic growth. For young people considering entering the housing market, these trends point to a shifting landscape that may influence future decisions.
