THE value and volume of new home sales in China continued to rise slowly in the first seven months of this year, according to data released yesterday by the National Bureau of Statistics, which added that the housing market “is generally stable.”
New houses worth 4.93 trillion yuan (US$741 billion), excluding government-subsidized affordable housing, were sold during the seven months through July, a year-on-year jump of 41.2 percent. It was slower than the 44.4-percent growth in the first half and a 53.4-percent rise in the first five months.
During the period, 671.5 million square meters of new homes were sold between January and July, up 26.7 percent from the same period a year earlier. The volume eased from a 28.6-percent rise in the first half year and a 34.2-percent jump in the first five months, according to the data.
“Despite the retreat, the country’s housing market generally remained stable,” said Shen Laiyun, a bureau spokesman. He added that the country is unlikely “to see a nationwide property boom.”
In July, new home buying in China totaled 747.1 billion yuan, or 100.6 million square meters, to notch the worst monthly figure since March, Shanghai Centaline Property Consultants Co wrote in a report.
