China August home prices rise 9.2% y-o-y
[BEIJING] Average new home prices in China's 70 major cities rose 9.2 per cent in August from a year earlier, accelerating from a 7.9 per cent increase in July, an official survey showed on Monday.
Compared with a month earlier, home prices rose 1.5 per cent, quickening from July's 0.8 per cent, according to Reuters calculations from data issued by the National Bureau of Statistics (NBS).
Home prices in the coastal city of Xiamen and inland city Hefei had the biggest surge, rising 43.8 per cent and 40.3 per cent respectively, from a year ago.
Shanghai and Beijing prices rose 31.2 per cent and 23.5 per cent.
A booming property market has given a much-needed boost to China's economic growth this year, but concerns are rising that the upward trend in prices won't be sustainable, as a growing number of overheated cities have introduced restrictions on home purchases to prevent asset price bubbles.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Property
Private home prices ease to 1.4% rise in Q1; rents fall a further 1.9%
Singapore office rents in central region fall 1.7 per cent in Q1 after rising for 9 quarters
Singapore retail rents slip 0.4% in Q1 as vacancy rates creep up
Country Garden plans to present debt revamp plan in H2, sources say
Hong Kong home prices rise for first time in 11 months after curbs scrapped
HDB resale prices accelerate, rising 1.8% in Q1 on stronger demand