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Supply glut puts brakes on recovery in home prices

Prices of new homes fell in 33 cities in October, compared with 21 in September

The number of unsold new homes nationwide rose 14 per cent to 437 million square metres as at Oct 31 as the pace of home sales slowed, the statistics bureau said.


CHINA'S home-price recovery slowed in October as a supply glut in less prosperous cities challenges the authorities' efforts to revive the residential market with interest-rate cuts and easing of mortgage restrictions.

New-home prices rose in 27 cities, 12 fewer than in