One of the country’s largest property research firms, China Index Academy, reported new home prices in China climbed 0.18% month-on-month in January.
This was down slightly from December’s 0.28% rise.
The research firm noted that high-end upgraded housing projects launched in cities like Chengdu, Shanghai, and Hangzhou in January boosted month-on-month and year-on-year prices in first- and second-tier cities.
In contrast, third- and fourth-tier cities kept clearing existing inventory, with prices dropping both month-on-month and year-on-year.
Resale market prices dropped 0.85% month-on-month, a milder decline than December’s 0.97% fall.
China’s property market has faltered since 2021, when stricter regulations ignited a developer liquidity crisis, leading many to default on debts.
According to reports, developers no longer need to submit monthly data under China’s “three red lines” policy, hinting at an end to the rules that sparked the debt crisis.
Qiushi, the Communist Party’s official journal, is urging policymakers to accelerate the process, stabilise market swings, and provide comprehensive support instead of piecemeal measures.