Home price growth edges up in Feb

First-tier cities see pickup in demand despite marginal dip in commercial real estate sales

Real estate prices showed signs of recovery in the Chinese mainland during February with new home prices edging up in first-tier cities, the National Bureau of Statistics said on Friday.

According to NBS data, price growth in the four first-tier cities-Beijing, Shanghai, Guangzhou and Shenzhen was 0.3 percent from a month earlier. House prices in Beijing fell by 0.2 percent from the level in January, while Shanghai and Guangzhou saw growth of 0.3 percent and 1.1 percent respectively. Prices of previously owned homes in Beijing and Shenzhen rose by 0.2 percent and 0.5 percent respectively on a monthly basis.