China’s April New-Home Prices Rise at Faster Pace, Defying Curbs
Bloomberg
Published May 16, 2018 11:41
Updated May 16, 2018 13:04
China’s April New-Home Prices Rise at Faster Pace, Defying Curbs
(Bloomberg) -- China’s home prices gained at the quickest pace in 10 months in April even as the government pressed ahead with a two-year campaign to curb property speculation.
New-home prices across 70 cities tracked by the government gained 0.57 percent from a month earlier, according to Bloomberg calculations based on Wednesday’s data from the National Bureau of Statistics. That compared with a 0.42 percent increase in March.
Local officials are trying to tame prices without causing any excessive slowdown in demand. Cities have been quick to roll out new restrictions after any signs of resurgent buying and some are offering subsidies to try to expand the rental market. Six Chinese cities, including southern Foshan and central Chengdu, have stepped up property-related restrictions after the housing ministry reiterated the central government’s priority to stabilize property markets.
The faster pace of price gains add to mixed signs for the market after home sales grew at a weaker pace in April, according to separate official data on Tuesday.
To contact Bloomberg News staff for this story: Emma Dong in Shanghai at edong10@bloomberg.net
To contact the editors responsible for this story: Andrew Davis at abdavis@bloomberg.net, Jeanette Rodrigues
©2018 Bloomberg L.P.
Get The App
Written By: Bloomberg
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.