China Housing March 2021

China

China: Housing market gains further steam in March

April 16, 2021

House prices in 70 large- and medium-sized cities increased 0.5% in March in month-on-month terms according to a weighted average index calculated by Refinitiv from data issued by the National Bureau of Statistics (NBS). The print was above February’s 0.4% reading.

House prices increased 4.6% annually in March, up from February’s 4.3% rise. Annual average growth in house prices fell from 4.6% in February to 4.5% in March.

Looking ahead, the housing market—particularly in smaller, less desirable cities—is likely to lose some momentum later this year due to the impact of recent government measures to limit financial risks, including limits on property loans. However, the stronger domestic economy should provide some support.


Author:, Economist

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China House Prices March 2021

Note: Month-on-month changes of the price index of newly constructed residential buildings in 70 large and medium cities and year-on-year variation in %. The index is calculated as a weighted average based on the population of the 70 cities.
Source: National Bureau of Statistics of China (NBS) and Refinitiv.


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