China’s home prices slightly up in February

Home prices in 100 Chinese cities saw a slight increase last month, an industrial report showed.

Among the 100 surveyed cities, average new home prices edged up 0.2 percent from January to 15,884 yuan (about 2,460 U.S. dollars) per square meter in February, according to the China Index Academy, a property research institution.

Year on year, average new home prices increased 4.01 percent.

A total of 66 cities saw a month-on-month increase in home prices in February, while 27 cities saw home prices decrease.

China vowed to tackle prominent housing problems in large cities at the tone-setting Central Economic Work Conference held in December last year, listing the development of rental housing as one of its key economic tasks for 2021.