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Property prices rising despite measures
By Zhang Fengming |
October 15, 2010, Friday
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Online Edition
Online Edition
CHINA'S urban property prices kept climbing in September although the pace was slowing on central government's rein-in measures.
Real estate prices in 70 major cities on the Chinese mainland rose 9.1 percent year-on-year last month, extending its year-on-year gain for 16 straight months, the National Bureau of Statistics said yesterday on its website.
The September rise, down from a growth of 9.3 percent in August, marked the fifth straight year-on-year growth slowdown since May. Home prices grew the fastest in April since July 2005, when the bureau doubled the number of cities it was tracking.
On a month-on-month basis, September home prices rose 0.5 percent.
"The year-on-year price growth at a decelerated rate since May indicated that the country's tightening policies since April have taken some effect, though not up to expectation," Lu Zhengwei, an Industrial Bank senior economist, said today.
Real estate prices in 70 major cities on the Chinese mainland rose 9.1 percent year-on-year last month, extending its year-on-year gain for 16 straight months, the National Bureau of Statistics said yesterday on its website.
The September rise, down from a growth of 9.3 percent in August, marked the fifth straight year-on-year growth slowdown since May. Home prices grew the fastest in April since July 2005, when the bureau doubled the number of cities it was tracking.
On a month-on-month basis, September home prices rose 0.5 percent.
"The year-on-year price growth at a decelerated rate since May indicated that the country's tightening policies since April have taken some effect, though not up to expectation," Lu Zhengwei, an Industrial Bank senior economist, said today.
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