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Beijing housing prices to remain flat in 2017

Xinhua, January 20, 2017 Adjust font size:

Beijing housing prices have shown signs of stabilizing and are expected to remain flat in 2017, according to data released by the municipal statistics bureau Friday.

The cost of new residential apartments on the market dipped 0.1 percent month on month in December 2016. It was the first drop since March 2015. The growth of second-hand apartment prices in December remained flat at 0.2 percent month on month, compared to that in November. It was 5.5 percentage points lower than that in September, statistics show.

Beijing's red-hot property market cooled in the fourth quarter of 2016 after the authorities announced purchase and lending restrictions to curb housing bubbles. Analysts say the restrictions are making both buyers and sellers adopt a wait-and-see attitude, causing the stabilizing effect to the market. Endi