![]() Tongzhou registered the smallest decline (0.01 percent), indicating that the "double restrictions" on property purchases in the district have effectively deflated price bubbles there. The biggest falls occurred in Xicheng (8.43 percent) and Haidian (7.45 percent), due to the blow to lofty school district housing prices following a major shift in local primary school enrollment policies focusing on property occupancy and multiple-school district partition. That said, the report continued, Chongqing, Guangzhou, Qingdao, Chengdu and Jinan still witnessed relatively large increases in property prices last month.Īccording to big data housing price indices for major cities, property prices fell in all of Beijing's districts and counties last month. Housing prices in Beijing fell for the first time amid substantial declines in property prices in the neighboring cities as a result of a combination of regulation policies introduced by local governments, including stricter criteria for first-time homebuyers based on both property ownership and mortgage history and the 'multiple-school district partition' policy. ![]() Tightening government regulation saw a decline in the overall property price growth in the key cities last month, said the report prepared by CASS's China housing development report team at the National Academy of Economic Strategy and the Center for City and Competitiveness. However, the real estate market will still face upside pressure in first-tier cities. (Yicai Global) June 12 - Due to the contraction in credit supply and cross-regional real estate investment regulation measures introduced by local governments, sharp rises in property prices will come to an end in most Chinese cities, and housing prices in cities with major property bubbles such as Beijing will continue to decline in the near term, said a monthly report on housing market development released by the Chinese Academy of Social Sciences (CASS) quoted by ce.cn today.
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