Real Estate
Housing prices rise accelerates in major cities
Last Updated:2013-02-22 10:14 | Xinhua
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Home prices kept rising at a quicker pace in major Chinese cities last month, underscoring the necessity of government measures to coo l the property market, data showed on Friday.

Of a statistical pool of 70 major Chinese cities monito red by the National Bureau of Statistics , 53 cities saw home prices increase within 2.2 percent in January from a month earlier. In December, 54 cities recorded increases with a growth margin of no more than 1.2 percent.

New home prices in first-tier cities including Beijing, Shanghai , Guangzhou and Shenzhen respectively rose 2.1 percent, 1.3 percent, 2.0 percent and 2.2 percent on a month-on-month basis, marking a quicker pace of growth than in December.

On a year-on-year basis, 53 cities registered rising prices with the growth rate drastically up to 4.7 percent, compared with the 2.4 percent rise recorded in December, the NBS said in a statement on its website.

New home price in Guangzhou recorded the largest year-on-year growth of 4.7 percent, followed by Urumqi and Beijing. The eastern city of Wenzhou saw its housing price plunge 10.1 percent from a year ago, according to the NBS.

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