February's housing prices in 70 of China's large and medium-sized cities were 10.9 percent higher than the same period last year. In addition, the housing prices in 13 cities, including Chongqing, Changsha, Chengdu and Hangzhou fell from January, according to the data released by the National Development and Reform Commission (NDRC) and China's National Bureau of Statistics.
In February, the selling price of newly built residences in 70 large- and medium-sized cities was up by 11.8 percent over the same period last year, and 0.4 percentage points lower than in January. The selling price of second hand housing was up by 11.5 percent over the same period last year, and 0.4 percentage points lower than in January.
The selling price of economy residential housing was up by 4.8 percent over the same period last year. The selling price of general commodity housing and luxury housing were 12.8 percent and 12.0 percent higher, respectively, than the same period last year.
Housing prices in cities including Shenzhen, Guangzhou, Xiamen and Hangzhou showed a small decline from January. Prices in Zunyi fell 2.2 percent, in Chongqing fell 1.7 percent, and both in Changsha and Chengdu fell 0.4 percent.
By People's Daily Online