China's March home price growth slows

[BEIJING] Price rises for new homes in China slowed in March for the third straight month, an independent survey showed, as authorities say that they are looking to curb high housing costs.

The average price of a new home in 100 major cities rose 10.04 per cent year on year in March to 11,002 yuan (S$2,236) per square metre, according to the China Index Academy, which compiled the survey, released late Monday.

The increase compared with a rise of 10.79 per cent in February, according to the academy, the research unit of real estate website operator Soufun.