Posted on 01/18/2016 10:34:12 AM PST by Citizen Zed
China's home prices continued to rise in December 2015, adding to signs of improving in the housing market, although the recovery remains uneven across the country.
Average new home prices in 70 major cities rose 7.7 percent in December from a year earlier, quickening from November's 6.5 percent rise, the National Bureau of Statistics(NBS) said on Monday.
Even a mild recovery in the housing market would ease concerns of an acute slowdown in China's economy, which is expected to show its weakest growth in 25 years in 2015.
The NBS data showed on-month price rises were seen in 39 of 70 major cities tracked by the NBS, up from 33 in November.
Big cities led the prices gains again in December, with Shenzhen being the top performer. Home prices there rose 46.8 percent from a year ago, NBS data showed.
Home prices' strong gains in big cities were in sharp contrast with performance in small cities. Average home prices in third-tier cities still fell year-on-year in December, it added.
A Reuters calculation based on NBS data showed China's new home prices rose 1.6 percent in on-year terms, marking the third month of year-on-year gains in a row.
(Excerpt) Read more at finance.yahoo.com ...
Government data attempting to support a collapsing market. Doesn’t mention the ‘ghost’ cities.
I’m always amazed to hear stories such as this from China. Home ownership in China??,, isn’t private ownership verboten under communism??? Has China abandoned all pretense of being communist?? Is Chairman Mao turning in his grave about what has happened to his beloved great leaps forward to communist paradise?????
Here’s a good solution to the muslim emigrant situation.
China is setting on several brand new completely developed cities with no one living in them.
Why not move um all to china and fill those cities with people?
They could create a big contribution to the Chinese economy.
Being communist anyway, the Chinese gummit should be glad to take in more “workers” & provide them with a good living expense & universal health care.
Homes have prices in China? Who knew?
Chinese property law
Buying land
https://en.wikipedia.org/wiki/Chinese_property_law#Buying_land
“A foreign investor is not allowed to buy land in China. The land in China belongs to the state and the collectives.”
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