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China’s home prices rise to 2-year high in March

by ChemOrbis Editorial Team -
  • 18/04/2016 (15:53)
According to media reports, home prices in China increased at their fastest pace in 2 years in March due to high demand in big cities such as Shenzhen and Shanghai, although the risks of market overheating and tighter purchase requirements continue to weigh down the housing market.

Data released by the National Statistics Bureau (NBS) showed that average new home prices in 70 major cities rose 4.9% on the year in March compared with a 3.6% gain in February. On a monthly basis, meanwhile, home prices climbed 1.1%. Data also showed that home prices in 40 of 70 major cities posted yearly increases compared with 32 cities in February.

Meanwhile, new home prices surged 61.6% on the year in Shenzhen and 25% on the year in Shanghai in March, up 3.7% and 3.6%, respectively from February.
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