Home Prices Stable
The hot property market in major cities is stabilizing after authorities took measures to contain rising prices, according to an official survey on February 22.
Of the 70 large and mediumsized cities surveyed, 45 saw prices for new residential housing climb month on month in January, down from 46 in December and 55 in November 2016, according to the National Bureau of Statistics (NBS).
In Beijing, new residential house prices remained flat month on month, while Shanghai prices fell 0.1 percent. Housing prices in Shenzhen, a southern metropolis neighboring Hong Kong, slid 0.5 percent.
Year on year, housing prices in the three cities have risen 24.7 percent, 23.8 percent and 18.2 percent, respectively.
According to the NBS, new residential housing prices in second-tier cities rose 0.1 percent…