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New homes becoming more costly
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October's new home prices rose both on a yearly and monthly basis for the third straight month, a survey showed yesterday.
The average price per square meter in a sample of 100 cities added 0.3 percent month on month to 10,849 yuan (US$1,709) in October, according to the survey by the China Index Academy.
The gain slightly expanded from 0.28 percent in September, the academy said.
In October, 48 cities posted monthly home price rises, 11 fewer than in September.
On an annual basis, the average price per square meter in the 100 sample cities rose 2.07 percent in October, 0.71 percentage points above September’s.
New home sales in China's 10 major cities, including Beijing and Shanghai, surged 6.65 percent yearly in October, 1.01 percentage points over September’s.
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