Second-Hand Homes Led Property Price Decline in Beijing Last Month
Dou Shicong
/SOURCE : Yicai
Second-Hand Homes Led Property Price Decline in Beijing Last Month

(Yicai Global) Oct. 26 -- The Beijing housing price index experienced general decline in September, with prices of second-hand housing falling more than those of new commercial housing, state-owned Xinhua News Agency reported yesterday, citing data released by China's National Bureau of Statistics.

Prices for new houses remained largely unchanged last month compared August, with the exception of houses smaller than 90 square meters, while sales price indexes for new commercial housing of other types and all types of second-hand housing declined

New commercial housing sized 90 to 144 square meters saw prices fall 0.4 percent in the capital, while those bigger than 144 square meters fell 0.1 percent.

Among second-hand housing, properties 90 square meters and below saw prices fall 0.7 percent, with properties above that size declining 0.5 percent. 

The housing price index reflects overall changing trends in price levels for commercial housing. The base comparison period in the country is adjusted once every five years; the current base comparison period is 2015. 

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Keywords: Beijing , Housing Sales Price Index , Second-Hand Housing