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MNI POLICY: China July Home Prices Rise Despite Curbs

MNI (Sydney)

Housing prices in China's largest cities continued to rise in July even as authorities reportedly took measures to cool markets and prevent real estate bubbles.

Average prices of new homes in the top-tier four cities gained 0.5% in June, compared with the 0.6% gain June-May, data from the National Bureau of Statistics on Friday showed. Prices of pre-owned homes rose 0.7%, down from 1% in the previous month.

In the 31 so-called second-tier cities, mainly provincial capitals, new and pre-owned homes both rose 0.5% m/m, according to the data. On an annual basis, prices of new and existing homes in top-tier four cities, including Beijing and Shenzhen, jumped 3.6% and 5.7%. Prices in the 31 second-tier cities rose 5.1% and 2%, respectively for new and existing homes.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
Policy NewsAPACChinaStoryRegion
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