China’s housing market continued to show a modest slowdown in February as new data show that price growth was capped by discounts in some cities while the Lunar New Year holiday had an impact on sales overall.
Average new-home prices issued by data provider China Real Estate Index System on Friday showed prices grew 10.79% in February from a year earlier, compared with January’s 11.1%, which also slowed from December’s 11.5%.
The survey tracks new-home sales in 100 Chinese cities. The average price in February rose 0.54% compared with January, the survey said. That is down from 0.63% in January over December, which was the slowest on-month gain in more than a year.
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