Chinese cities lead global housing price gains in 2017

Updated 2018-03-06 09:43:07

China led global housing price gains in 2017, with seven out of the top 10 cities being Chinese ones, according to the Global House Price Index released by research firm Hurun Report on Monday.

Chinese cities also held 24 spots in the top 50 global cities in real estate price percentage gains, the report noted.

Wuxi in East China's Jiangsu Province topped with a year-on-year price gain of 18.2 percent, slowing from 34.3 percent in 2016. The city's global ranking was No.2 after Reykjavik, capital of Iceland, according to the Hurun report.

Within China, Wuxi was followed by Hefei, capital of East China's Anhui Province and Guangzhou, capital of South China's Guangdong Province, with gains of 18 percent and 16.9 percent, respectively. Their global rankings were No.3 and No.5.

But China's housing prices overall cooled last year compared with 2016 because of purchase curbs announced by the government. For example, the global rankings of first-tier cities such as Beijing and Shanghai declined by 13 slots and 20 slots to No.23 and No.27 compared with 2016.

The report also tracked the returns on Chinese investment in overseas property projects. Among the 50 cities offering the highest returns, the US led the list with 11.

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