25 Feb '13, 12am

China’s new home prices rebounded last month

Property market exuberance could prompt authorities to step up curbs: Analysts New home prices in 70 major cities across China rose an average of 0.8 per cent in January from the same month a year earlier, according to data released yesterday by the National Bureau of Statistics, snapping 10 months of decline and raising the risk that the central government may move to bolster a three-year campaign to curb property inflation. From the previous month, home prices in the cities rose by an average of 0.7 per cent in January, after a 0.4 per cent rise in December, according to Reuters’ calculations from the NBS data. The data came only two days after China’s Cabinet restated intentions to extend a pilot property-tax programme to more cities and urged local authorities to put price-control targets on new homes in a fresh bid to calm frothy real estate markets. Many investors ex...

Full article: http://lushhomemedia.com/2013/02/25/chinas-new-home-price...

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