Beijing, Shanghai second-hand home sales crawl up
October saw green shoots of recovery in the second-hand home markets of the mainland's two most important cities as prices in Beijing rose for the second consecutive month while they edged up in Shanghai for the first time since June.
October saw green shoots of recovery in the second-hand home markets of the mainland's two most important cities as prices in Beijing rose for the second consecutive month while they edged up in Shanghai for the first time since June, according to the SCMP-CTC index.
The average price for used homes in the mainland capital rose 1.1 per cent from September to 41,008 yuan (HK$51,890) per square metre, according to the index, which is a product of collaboration between the South China Morning Post and consultancy Century 21 China Real Estate (CTC).
In the country's financial hub, prices inched up to 34,071 yuan per square metre from 34,062 yuan.
As a result, the secondary home price index for Beijing edged up to 156 points from 155 in September, while that for Shanghai remained unchanged at 141.
Year on year, prices in Beijing fell for a second month, by 2.2 per cent, while they rose 3.1 per cent in Shanghai.