Ningbo ranked No. 3 in the year-on-year decline of prices for new houses

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Category: Ningbo Business

Published: Tuesday, 21 February 2012 10:07

National Bureau of Statistics of China released the housing price index of January for 70 large and medium-sized cities on February 18. The statistics show that in January, the prices for newly-built commercial housing in all the 70 cities declined or remained the same compared with the previous month. The price for newly-built commercial housing in Ningbo declined by 0.2% compared with the previous month, but by 1.6% over the same period last year, second only to Wenzhou and Nanjing among the 70 large and medium-sized cities.

Over the last five months, 11 out of the 70 cities, including Ningbo and Hangzhou, witnessed the continuous drop of housing prices. Ningbo stood out among others in terms of the year-on-year decline in prices for newly-built large-area commercial housing.

According to the report from the Bureau, among all the newly-built commercial housing in Ningbo, the price for houses with an area of 90 square meters and below dropped by 0.1% over the previous month and by 0.5% over the same period last year; the price for houses with an area of 90 to 144 square meters dropped by 0.3% over the previous month and by 1.3% over the same period last year; while that for houses with an area of over 144 square meters declined by 0.1% over the previous month and by 2.2% over the same period last year.