The average new home price increased 0.1 percent on month to 36,191 yuan/square meters in September in south China's Shenzhen city, according to a report by 21st Century Business Herald quoting Urban Planning Land and Resources Commission of Shenzhen Municipality.
The average price of second-hand house slid 1.6 percent on month to 37,633 yuan/square meters in September in Shenzhen, according to real estate broker Lianjia. Statistics from Centaline Property showed that contract prices of new house had been declining for three weeks. The average contract price of new house stood at 31,500 square meters, down 6.4 percent in the latest week. Centaline Property said that the house prices in Shenzhen were expected to decline due to rising devaluation expectations and loan tightening.