(MENAFN) According to a governmental report, Beijing's property market was held steady last month with second-hand home prices edging for seven months in a row.
According to the research arm of Lianjia, the country's biggest real estate chain, second-hand home prices have dropped from a peak of 67,801 yuan per square meter in March to 59,597 yuan per square meter in November.
Home prices dropped by 0.9% last month in comparison with October, as in May, Beijing has increased the down payment for second homes and suspended housing loans with a maturity of 25 years or more.
Authorities in China have repeatedly said that "houses are built for living in, not speculation," vowing to step up housing system reform and adopt a long-term market mechanism.
MENAFN2412201700450000ID1096267901
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.